Document ID: chunk:federal_register_of_legislation:C2010C00237:clause:3_17
Version: federal_register_of_legislation:C2010C00237
Segment Type: clause
Provision Reference: sch 3 cl 17
Character Range: 39443–40603

17  Internal governance rules requirements

(1) Subsection 66‑1(3) and paragraph 66‑1(5)(c) of the new Act apply in relation to a transitional corporation as if the reference in that subsection and in that paragraph to the new Act were a reference to the new Act as that Act applies in relation to the corporation.

Example: During a transitional corporation's transitional period, the corporation's constitution need not cover the matters in subsection 158‑5(3) of the new Act (see item 34).

(2) Subsection 66‑1(4) and section 66‑5 of the new Act do not apply in relation to a transitional corporation unless and until the corporation repeals its constitution after commencement.

(3) Subsection 66‑1(3A) of the new Act does not apply in relation to a transitional corporation during its transitional period.

(4) During a transitional corporation's transitional period:
 (a) the corporation's constitution must provide for a procedure for the settling of disputes between the corporation and its members; and
 (b) the requirement in paragraph (a) is taken for the purposes of the new Act to be an internal governance rules requirement for the corporation.