Document ID: chunk:federal_register_of_legislation:C2024A00027:clause:1_23
Version: federal_register_of_legislation:C2024A00027
Segment Type: clause
Provision Reference: sch 1 cl 23
Character Range: 11615–12466

23  Validation—acquisition of shares in company etc.
(1) This item applies if, at a time before the commencement of this item (the relevant time):
 (a) the Commonwealth purported to acquire shares in, or become a member of, a company under section 39B of the Financial Framework (Supplementary Powers) Act 1997 as in force at the relevant time (the old Act); and
 (b) the Commonwealth did not (apart from this item) have the power under section 39B of the old Act to acquire shares in, or become a member of, the company merely because it had the power to do so apart from subsection (2) of that section.
(2) The Commonwealth is taken to have had, at the relevant time, the power under section 39B of the old Act to acquire shares in, or become a member of, the company even though it had the power to do so apart from subsection (2) of that section.