Document ID: chunk:federal_register_of_legislation:C2010C00237:clause:3_6
Version: federal_register_of_legislation:C2010C00237
Segment Type: clause
Provision Reference: sch 3 cl 6
Character Range: 29683–31345

6  Circumstances existing before commencement

(1) For the purposes of applying a provision of the new Act or this Schedule to a transitional corporation after commencement, a reference in that provision to circumstances of a particular kind in relation to the corporation includes a reference to circumstances of that kind existing before commencement.

Example 1: A person who stopped being a member of the Governing Committee of a transitional corporation before commencement will be able to inspect the corporation's books under subsection 274‑15(2) of the new Act.

Example 2: Oppressive conduct before commencement can be considered under paragraph 487‑5(1)(e) of the new Act for determining whether a transitional corporation should be under special administration.

Example 3: The CATSI Registrar can give a notice under subsection 439‑20(1) of the new Act in relation to an irregularity in a transitional corporation's affairs before commencement, or in relation to a transitional corporation's failure to comply with a provision of the old Act or the corporation's Rules.

(2) The provision referred to in subitem (1) applies to the transitional corporation with such modifications as are necessary, including the transitional modifications.

(3) Nothing in this item has the effect of giving a provision of the new Act or this Schedule any effect or operation before commencement.

Example: The offence provisions of the new Act (for example, the provisions that create offences for breaches of directors' duties) will not apply in relation to conduct that was engaged in before commencement.

Division 2—Classification of transitional corporations