Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p89
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 89/212)
Character Range: 234609–237429

an application to reserve a specified name as the name by which it is proposed that the body be registered as a company under Division 3 of Part 2.2.".

Subsections 374 (3) and (4)

  Omit the subsections, substitute:

  "(4) Subject to this Part, where, at the commencement of this Law:

  (a) a registrable Australian body (not being a body to which

SCHEDULE 1—continued

     subsection 372a (2) applies) was registered or incorporated by a particular name under the law of its place of origin; or

     (b) a foreign company (not being a foreign company to which subsection 372a (3) applies) was registered or incorporated by a particular name under the law of its place of origin;

then, so long as the registrable Australian body or foreign company continues to be registered or incorporated by that name under that law, the name is taken, except for the purposes of subsection 367 (1), to be reserved under this section in respect of the registrable Australian body or foreign company, as the case may be.".

Paragraph 374 (5) (b):

  Omit "2, 3 or 4", substitute "3".

Subsections 376 (4) and (5):

  Omit the subsections.

Subsection 383 (11):

  Omit the subsection, substitute:

  "(11) Where:

     (a) a body corporate is taken to be registered as a company under Division 2 of Part 2.2 of the Corporations Law of this jurisdiction; and

     (b) a licence under a previous law of this jurisdiction corresponding to this section was in force in respect of that body corporate immediately before its registration day;

the licence continues in force, subject to this section, as if it had been issued by the Commission under this section.".

After section 383:

  Insert in Part 4.2:

Names reserved within 2 months before commencement

"383a. Where, within 2 months before the commencement of this Part, a name was reserved under a corresponding previous law in respect of a body corporate, the name is taken to be reserved under this Part in respect of that body corporate for so much of the period of 2 months after the name was reserved as occurs after that commencement.".

Subsection 399 (1) (definition of "body corporate"):

  Omit the definition.

Subsection 399 (1) (definition of "investment company"):

  Omit "body corporate", substitute "corporation".

SCHEDULE 1—continued

Subsection 399 (1) (definition of "net tangible assets"):

  Omit "body corporate", substitute "corporation".

Subsection 399 (3):

  Omit the subsection, substitute:

"(3) The Commission may, by order published in the Gazette, declare to be an investment company a corporation that:

  (a) is:

       (i) a company; or

         (ii) a registrable Australian body that is, or is required to be, registered under Division 1 of Part 4.1; or

         (iii) a foreign company that is, or is required to be, registered