Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1371:p3
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1371 (pt 3/4)
Character Range: 5785205–5787689

for the purposes of any of the provisions of this Part.
 (2) Subject to subsection (4), for the purposes of this Part, a provision or part (the old provision or part) of the old corporations legislation of a State or Territory corresponds to a provision or part (the new provision or part) of the new corporations legislation (and vice versa) if:
 (a) the old provision or part and the new provision or part are substantially the same, unless the regulations specify that the 2 provisions or parts do not correspond; or
 (b) the regulations specify that the 2 provisions or parts correspond.
Note: The range of provisions of the new corporations legislation that may be corresponding provisions for the purposes of this Part is affected by sections 1401 and 1408, which take certain provisions of the old corporations legislation to be included in the new corporations legislation.
 (3) For the purposes of paragraph (2)(a), differences of all or any of the following kinds are not sufficient to mean that 2 provisions or parts are not substantially the same:
 (a) differences in the numbering of the provisions or parts;
 (b) differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references);
 (c) the fact that one of the provisions refers to a corresponding previous law and the other does not;
 (d) that fact that:
 (i) the old provision or part allowed a court to exercise powers on its own motion but the new provision or part does not; or
 (ii) the old provision or part required a court to apply a criterion of public interest but the new provision or part requires a court to apply a criterion of justice and equity; or
 (iii) the new provision or part requires ASIC to take account of public interest but the old provision or part did not;
 (e) other differences that are attributable to the fact that the new corporations legislation applies as a Commonwealth law throughout this jurisdiction;
 (f) other differences of a kind prescribed by the regulations for the purposes of this paragraph.
This subsection is not intended to otherwise limit the circumstances in which 2 provisions or parts are, for the purposes of paragraph (2)(a), substantially the same.
 (4) The regulations may provide that a specified provision of the old corporations legislation of a State or Territory does, or does not, correspond to a specified provision of the new corporations legislation.