Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006 (125 of 2006)

Schedule 3   Transitional provisions

Part 2   Bringing transitional corporations across to new system

Division 13   Enforcement

69   Enforcement under Part 10-3 of the new Act

(1) Section 450-1 of the new Act applies in relation to a transitional corporation as if:

(a) the reference in paragraph (a) of that section to the new Act included a reference to this Schedule; and

(b) the reference in paragraph (b) of that section to the new Act included a reference to the old Act, the corporation's Rules and this Schedule; and

(c) the reference in subparagraph (c)(i) of that section to the new Act included a reference to this Schedule.

Note 1: This subitem will not extend to an obligation under the old Act that is covered by an exemption under that Act.

Note 2: The operation of section 450-1 of the new Act is also extended by item 6. That item, for example, treats the reference in subparagraph 450-1(c)(i) of the new Act to a contravention of the new Act as including a reference to a contravention of the old Act (see item 6 and paragraph (2)(g) of item 1).

(2) Section 453-1 of the new Act applies in relation to a transitional corporation as if the reference in paragraph (1)(a) of that section to the new Act included a reference to this Schedule.

Note 1: This subitem will not extend to an obligation under the old Act that is covered by an exemption under that Act.

Note 2: The operation of section 453-1 of the new Act is also extended by item 6. That item, treats the reference in paragraph 453-1(1)(a) of the new Act to a failure to comply with a provision of the new Act as including a reference to a failure to comply with a provision of the old Act (see paragraph (3)(g) of item 6). It also treats the reference in that paragraph to a failure to comply with a provision of the corporation's constitution as including a failure to comply with a provision of the corporation's Rules (see item 6 and paragraph (2)(f) of item 1).

(3) Without limiting item 4 or 6:

(a) section 453-1 of the new Act extends to a transitional corporation's books created before commencement; and

(b) section 453-5 of the new Act extends to a transitional corporation's examinable affairs existing before commencement.

(4) Subitems (1) and (2) do not limit item 6.