THE CORPORATIONS LAW

CHAPTER 11 - APPLICATION AND TRANSITIONAL PROVISIONS

PART 11.2 - COMMENCEMENT AND APPLICATION OF CERTAIN CHANGES TO THIS LAW

Division 10 - Changes resulting from the Company Law Review Act 1998

SECTION 1438   DEREGISTRATION - PROPERTY VESTED IN ASIC UNDER PREVIOUS LAWS  

1438(1)  [Division 8 of Part 5.6]  

If property vested in ASIC before commencement under Division 8 of Part 5.6, ASIC may deal with the property under Chapter 5A as if the property were vested in it under section 601AD.

1438(2)  [ASC and NCSC]  

If:

(a)  property was vested in ASC under section 254 of the ASIC Law; and

(b)  the property was previously vested in the NCSC:

(i) because of the previous law of this jurisdiction corresponding to section 576 of the old Law; and

(ii) not under section 43 of the National Companies and Securities Commission Act 1979;

ASIC may deal with the property under Chapter 5A as if it were vested in it under section 601AD.

1438(3)  [Section 601AD]  

If property vested, or vests, in ASIC under section 601, ASIC may deal with the property under Chapter 5A as if the property were vested in it under section 601AD.

1438(4)  [Section 601]  

This section has effect despite section 601.