CORPORATIONS ACT 2001

CHAPTER 1 - INTRODUCTORY  

PART 1.1A - INTERACTION BETWEEN CORPORATIONS LEGISLATION AND STATE AND TERRITORY LAWS  

SECTION 5E   CONCURRENT OPERATION INTENDED  

5E(1)   [ Concurrent operation]  

The Corporations legislation is not intended to exclude or limit the concurrent operation of any law of a State or Territory.

5E(2)   [ Particular laws]  

Without limiting subsection (1), the Corporations legislation is not intended to exclude or limit the concurrent operation of a law of a State or Territory that:


(a) imposes additional obligations or liabilities (whether criminal or civil) on:


(i) a director or other officer of a company or other corporation; or

(ii) a company or other body; or


(b) confers additional powers on:


(i) a director or other officer of a company or other corporation; or

(ii) a company or other body; or


(c) provides for the formation of a body corporate; or


(d) imposes additional limits on the interests a person may hold or acquire in a company or other body; or


(e) prevents a person from:


(i) being a director of; or

(ii) being involved in the management or control of;
a company or other body; or


(f) requires a company:


(i) to have a constitution; or

(ii) to have particular rules in its constitution.

Note: Paragraph (a) - this includes imposing additional reporting obligations on a company or other body.

5E(3)   [ Reference to law of State or Territory imposing obligations, etc]  

Without limiting subsection (2), a reference in that subsection to a law of a State or Territory imposing obligations or liabilities, or conferring powers, includes a reference to a law of a State or Territory imposing obligations or liabilities, or conferring powers, by reference to the State or Territory in which a company is taken to be registered.

5E(4)   [ Direct inconsistency]  

This section does not apply to the law of the State or Territory if there is a direct inconsistency between the Corporations legislation and that law.

Note: Section 5G prevents direct inconsistencies arising in some cases by limiting the operation of the Corporations legislation.

5E(5)   [ Double jeopardy]  

If:


(a) an act or omission of a person is both an offence against the Corporations legislation and an offence under the law of a State or Territory; and


(b) the person is convicted of either of those offences;

the person is not liable to be convicted of the other of those offences.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.