Corporations Act 2001
The period of 7 years referred to in paragraphs 206EAB(2)(a) and 206GAA(2)(a) may include any period that is not more than 5 years before the day (the commencement day ) that Part 3 of Schedule 1 to the Corporations Amendment (Strengthening Protections for Employee Entitlements) Act 2019 commences (subject to the time limit of 7 years in those paragraphs). 1649(2)
However, a person may only be disqualified from managing corporations under section 206EAB or 206GAA if at least one of the contraventions referred to in paragraph 206EAB(2)(d) or 206GAA(2)(d), as the case may be, occurs on or after the commencement day. 1649(3)
A permission given under subsection 206F(5) that was in force immediately before the commencement day continues in force (and may be dealt with) as if it had been given under section 206GAB as inserted by Part 3 of Schedule 1 to the Corporations Amendment (Strengthening Protections for Employee Entitlements) Act 2019 .
[ CCH Note 1: Pt 10.35 will be inserted by No 69 of 2020, s 3, Sch 1 (effective 22 June 2022 or a day or days to be fixed by Proclamation). Pt 10.35 will read:
PART 10.35 - TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 1 TO THE TREASURY LAWS AMENDMENT (REGISTRIES MODERNISATION AND OTHER MEASURES) ACT 2020SECTION 1650 APPLICATION OF AMENDMENTS RELATING TO REGISTERS UNDER THIS ACT
The amendments made by items 360 to 1371 of Schedule 1 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 apply on and after the day (the appointment day ) the Minister appoints, under section 1270 of this Act, a Commonwealth body to be the Registrar. SECTION 1651 THINGS STARTED BUT NOT FINISHED BY ASIC
(a) before the appointment day, ASIC started doing a thing under this Act as in force immediately before the appointment day; and
(b) immediately before that day, ASIC had not finished doing that thing; and
(c) after that day, that thing falls within the powers or functions of the Registrar;
then, on and after that day:
(d) ASIC may finish doing the thing as if the thing were being done by the Registrar in the performance or exercise of the Registrar ' s functions or powers; or
(e) if ASIC does not finish doing the thing under paragraph (d) - the Registrar may finish doing the thing in the performance or exercise of the Registrar ' s functions or powers. SECTION 1652 REGISTER OF LIQUIDATORS
The Registrar must include in the record maintained under section 15-1 of Schedule 2 details contained, immediately before the appointment day, in the Register of Liquidators formerly established and maintained under section 15-1 of Schedule 2 as in force immediately before the appointment day.]
[ CCH Note 2: Pt 10.35A will be inserted by No 69 of 2020, s 3, Sch 2 (effective 22 June 2022 or a day or days to be fixed by Proclamation). Pt 10.35A will read:
PART 10.35A - TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 2 TO THE TREASURY LAWS AMENDMENT (REGISTRIES MODERNISATION AND OTHER MEASURES) ACT 2020SECTION 1653 DIRECTOR IDENTIFICATION NUMBERS
Part 9.1A applies on and after the day (the application day ) the Minister appoints, under section 1270 :
(a) a Commonwealth body to be the Registrar; or
(b) if more than one such body is appointed - such a body with functions and powers in connection with Part 9.1A .
If a person was an eligible officer immediately before the application day:
(a) if a period (the transitional application period ) is specified under subsection (3) of this section - section 1272C applies to the person as if:
(i) the reference in subparagraph 1272C(2)(a)(ii) to an application period specified by regulations were instead a reference to the transitional application period; and
(ii) references in paragraph 1272C(2)(a) to the day the person first became an eligible officer (or an eligible officer within the meaning of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 ) were instead references to the day the transitional application period came into effect; and
(b) until the transitional application period comes into effect - section 1272C does not apply to the person.
The Minister may, by legislative instrument, specify the transitional application period for the purposes of subsection (2).
If a person:
(a) was not an eligible officer immediately before the application day; and
(b) becomes an eligible officer within the 12 month period starting on the application day;
section 1272C applies to the person as if a period of 28 days were the application period specified in regulations made for the purposes of paragraph 1272C(2)(b) .]
[ CCH Note: S 1653(4) will be amended by No 141 of 2020, s 3, Sch 4, by substituting " subparagraph 1272C(2)(a)(ii) " for " paragraph 1272C(2)(b) " , (effective on the later of: (a) 18 December 2020; and (b) immediately after the commencement of Schedule 2 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 .)]
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