Corporations Act 2001
For the purposes of this Division, in determining whether a benefit is given:
(a) give a broad interpretation to benefits being given, even if criminal or civil penalties may be involved; and
(b) the economic and commercial substance of conduct is to prevail over its legal form.
[ CCH Note: Act No 115 of 2009, s 3, Sch 1, Pt 3 [ 43] (effective 24 November 2009) contained the following application provision:
Part 3 - Application43 Application
The amendments made by Part 1 apply in relation to a retirement from an office, or position of employment, held under:
(a) an agreement entered into; or
(b) an agreement renewed or extended; or
(c) an agreement, for which a variation of a condition of the agreement happens;
on or after the commencement of that Part.
If the amendments made by Part 1 apply in relation to a person ' s retirement from an office or position in a company, the person ' s relevant period for the purposes of section 200F or 200G of the Corporations Act 2001 applies to managerial or executive offices held by the person:
(a) in the company or related bodies corporate; and
(b) before, on or after the commencement of that Part.
Despite the amendment made by Part 2 (the Part 2 amendment ), paragraph 200F(1)(a) of the Corporations Act 2001 (as amended by Part 1 of this Schedule) continues to apply, in relation to agreements entered into before 1 January 1991, as if the Part 2 amendment had not been made.
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