Corporations Act 2001
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
a company or other body; or
(ii) being involved in the management or control of;
(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](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.
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