{"id":"qld:act-2001-045","name":"Body Corporate and Community Management Act 1997","slug":"body-corporate-and-community-management-act-1997","collection":"act","jurisdiction":"qld","status":"in_force","isInForce":true,"actNumber":"28 of 1997","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":2357,"registerId":"qld-act-2001-045-current","compilationNumber":null,"startDate":"2026-03-29","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"pt.1","sectionType":"part","heading":"Preliminary","content":"# Preliminary","sortOrder":0},{"sectionNumber":"sec.1","sectionType":"section","heading":"Short title","content":"### sec.1 Short title\n\nThis Act may be cited as the Corporations (Ancillary Provisions) Act&#160;2001 .","sortOrder":1},{"sectionNumber":"sec.2","sectionType":"section","heading":"Commencement","content":"### sec.2 Commencement\n\nThis Act, other than schedule&#160;3 , comes into operation immediately before the Corporations Act 2001 (Cwlth) , as originally enacted, comes into operation.\nSchedule&#160;3 comes into operation when the Corporations Act 2001 (Cwlth) , as originally enacted, comes into operation.\n(sec.2-ssec.1) This Act, other than schedule&#160;3 , comes into operation immediately before the Corporations Act 2001 (Cwlth) , as originally enacted, comes into operation.\n(sec.2-ssec.2) Schedule&#160;3 comes into operation when the Corporations Act 2001 (Cwlth) , as originally enacted, comes into operation.","sortOrder":2},{"sectionNumber":"sec.3","sectionType":"section","heading":"Purpose","content":"### sec.3 Purpose\n\nThe purpose of this Act is to enact ancillary provisions, including transitional provisions, relating to the enactment by the Parliament of the Commonwealth of new corporations legislation and new ASIC legislation under its legislative powers, including powers with respect to matters referred to that Parliament for the purposes of section&#160;51 (xxxvii) of the Commonwealth Constitution .\nThe Corporations (Commonwealth Powers) Act 2001 refers certain matters relating to corporations and financial products and services to the Parliament of the Commonwealth for the purposes of section&#160;51 (xxxvii) of the Constitution .","sortOrder":3},{"sectionNumber":"sec.4","sectionType":"section","heading":"Definitions","content":"### sec.4 Definitions\n\nIn this Act—\nASIC means the Australian Securities and Investments Commission.\ncarried over provision —\nof the old corporations legislation means a provision of that legislation that—\nwas in force immediately before the relevant time; and\ncorresponds to a provision of the new corporations legislation; and\nof the old ASIC legislation means a provision of that legislation that—\nwas in force immediately before the relevant time; and\ncorresponds to a provision of the new ASIC legislation.\ncooperative scheme law has the meaning given by the Corporations (Queensland) Act 1990 , section&#160;84 .\ncorresponds has a meaning affected by section&#160;5 .\nlaw of the State includes a statutory instrument and any other instrument of a legislative character made under an Act.\nliability includes duty and obligation.\nmade includes issued, given and published.\nnational scheme law of this jurisdiction has the same meaning as in the Corporations (Queensland) Act 1990 , section&#160;3 (1) .\nnew ASIC Act means the Australian Securities and Investments Commission Act 2001 (Cwlth) .\nnew ASIC legislation means—\nthe new ASIC Act ; and\nthe new ASIC Regulations (as amended and in force from time to time) and any other regulations made under the new ASIC Act ; and\nthe laws of the Commonwealth referred to in paragraph&#160;(a) (ii) and (in relation to the State) paragraph&#160;(b) (iii) of the definition old ASIC legislation in section&#160;254 (1) of the new ASIC Act , being those laws as they apply after the relevant time; and\nthe preserved instruments.\nnew ASIC Regulations means the old ASIC Regulations that, because of section&#160;264 of the new ASIC Act , have effect as if they were made under section&#160;251 of that Act.\nnew Corporations Act means the Corporations Act 2001 (Cwlth) .\nnew corporations legislation means—\nthe new Corporations Act ; and\nthe new Corporations Regulations (as amended and in force from time to time) and any other regulations made under the new Corporations Act ; and\nthe laws of the Commonwealth referred to (in relation to the State) in paragraph&#160;(c) of the definition old corporations legislation in section&#160;1371 (1) of the new Corporations Act , being those laws as they apply after the relevant time; and\nthe preserved instruments.\nnew Corporations Regulations means the old Corporations Regulations that, because of section&#160;1380 of the new Corporations Act , have effect as if they were made under section&#160;1364 of that Act.\nold application Act means the Corporations (Queensland) Act 1990 as in force from time to time before the relevant time.\nold ASIC Act means the Australian Securities and Investments Commission Act 1989 (Cwlth) as in force from time to time before the relevant time.\nold ASIC Law means the ASIC Law of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time.\nold ASIC legislation means—\nthe old ASIC Law and the old ASIC Regulations, and any instruments made under that law or those regulations; and\nthe old application Act, and any instruments made under that Act, as applying in relation to the old ASIC Law and the old ASIC Regulations from time to time before the relevant time; and\nthe laws of the Commonwealth as applying in relation to the old ASIC Law and the old ASIC Regulations from time to time before the relevant time as laws of, or for the government of, the State because of part&#160;8 of the old application Act, and any instruments made under those laws as so applying.\nold ASIC Regulations means the ASIC Regulations of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time.\nold Corporations Law means the Corporations Law of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time.\nold corporations legislation means—\nthe old Corporations Law and the old Corporations Regulations, and any instruments made under that law or those regulations; and\nthe old application Act, and any instruments made under that Act, as applying in relation to the old Corporations Law and the old Corporations Regulations from time to time before the relevant time; and\nthe laws of the Commonwealth as applying in relation to the old Corporations Law and the old Corporations Regulations from time to time before the relevant time as laws of, or for the government of, the State because of part&#160;8 of the old application Act, and any instruments made under those laws as so applying.\nold Corporations Regulations means the Corporations Regulations of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time.\norder , in relation to a court, includes any judgment, conviction or sentence of the court.\npreserved instrument means—\nin relation to the new corporations legislation, an instrument that, because of section&#160;1399 of the new Corporations Act , has effect after the relevant time as if it were made under a provision of the new corporations legislation; and\nin relation to the new ASIC legislation, an instrument that, because of section&#160;275 of the new ASIC Act , has effect after the relevant time as if it were made under a provision of the new ASIC legislation.\nprevious State corporations law means—\nthe repealed Companies Act 1961 ; or\nthe repealed Marketable Securities Act 1970 ; or\nthe repealed Securities Industry Act 1975 ; or\na cooperative scheme law; or\nany other Act, or provision of an Act, specified under a regulation under subsection&#160;(2) .\nprovision of a law includes any portion of the law.\nreferring State has the meaning given by section&#160;4 of the new Corporations Act .\nrelevant time means the time when the new Corporations Act , as originally enacted, comes into operation.\nright includes interest and status.\nState includes the Northern Territory.\nTerritory means the Australian Capital Territory or the Jervis Bay Territory.\nA regulation may provide that a specified Act, or a specified provision of an Act, is a previous State corporations law for the purposes of this Act.\n(sec.4-ssec.1) In this Act— ASIC means the Australian Securities and Investments Commission. carried over provision — of the old corporations legislation means a provision of that legislation that— was in force immediately before the relevant time; and corresponds to a provision of the new corporations legislation; and of the old ASIC legislation means a provision of that legislation that— was in force immediately before the relevant time; and corresponds to a provision of the new ASIC legislation. cooperative scheme law has the meaning given by the Corporations (Queensland) Act 1990 , section&#160;84 . corresponds has a meaning affected by section&#160;5 . law of the State includes a statutory instrument and any other instrument of a legislative character made under an Act. liability includes duty and obligation. made includes issued, given and published. national scheme law of this jurisdiction has the same meaning as in the Corporations (Queensland) Act 1990 , section&#160;3 (1) . new ASIC Act means the Australian Securities and Investments Commission Act 2001 (Cwlth) . new ASIC legislation means— the new ASIC Act ; and the new ASIC Regulations (as amended and in force from time to time) and any other regulations made under the new ASIC Act ; and the laws of the Commonwealth referred to in paragraph&#160;(a) (ii) and (in relation to the State) paragraph&#160;(b) (iii) of the definition old ASIC legislation in section&#160;254 (1) of the new ASIC Act , being those laws as they apply after the relevant time; and the preserved instruments. new ASIC Regulations means the old ASIC Regulations that, because of section&#160;264 of the new ASIC Act , have effect as if they were made under section&#160;251 of that Act. new Corporations Act means the Corporations Act 2001 (Cwlth) . new corporations legislation means— the new Corporations Act ; and the new Corporations Regulations (as amended and in force from time to time) and any other regulations made under the new Corporations Act ; and the laws of the Commonwealth referred to (in relation to the State) in paragraph&#160;(c) of the definition old corporations legislation in section&#160;1371 (1) of the new Corporations Act , being those laws as they apply after the relevant time; and the preserved instruments. new Corporations Regulations means the old Corporations Regulations that, because of section&#160;1380 of the new Corporations Act , have effect as if they were made under section&#160;1364 of that Act. old application Act means the Corporations (Queensland) Act 1990 as in force from time to time before the relevant time. old ASIC Act means the Australian Securities and Investments Commission Act 1989 (Cwlth) as in force from time to time before the relevant time. old ASIC Law means the ASIC Law of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time. old ASIC legislation means— the old ASIC Law and the old ASIC Regulations, and any instruments made under that law or those regulations; and the old application Act, and any instruments made under that Act, as applying in relation to the old ASIC Law and the old ASIC Regulations from time to time before the relevant time; and the laws of the Commonwealth as applying in relation to the old ASIC Law and the old ASIC Regulations from time to time before the relevant time as laws of, or for the government of, the State because of part&#160;8 of the old application Act, and any instruments made under those laws as so applying. old ASIC Regulations means the ASIC Regulations of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time. old Corporations Law means the Corporations Law of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time. old corporations legislation means— the old Corporations Law and the old Corporations Regulations, and any instruments made under that law or those regulations; and the old application Act, and any instruments made under that Act, as applying in relation to the old Corporations Law and the old Corporations Regulations from time to time before the relevant time; and the laws of the Commonwealth as applying in relation to the old Corporations Law and the old Corporations Regulations from time to time before the relevant time as laws of, or for the government of, the State because of part&#160;8 of the old application Act, and any instruments made under those laws as so applying. old Corporations Regulations means the Corporations Regulations of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time. order , in relation to a court, includes any judgment, conviction or sentence of the court. preserved instrument means— in relation to the new corporations legislation, an instrument that, because of section&#160;1399 of the new Corporations Act , has effect after the relevant time as if it were made under a provision of the new corporations legislation; and in relation to the new ASIC legislation, an instrument that, because of section&#160;275 of the new ASIC Act , has effect after the relevant time as if it were made under a provision of the new ASIC legislation. previous State corporations law means— the repealed Companies Act 1961 ; or the repealed Marketable Securities Act 1970 ; or the repealed Securities Industry Act 1975 ; or a cooperative scheme law; or any other Act, or provision of an Act, specified under a regulation under subsection&#160;(2) . provision of a law includes any portion of the law. referring State has the meaning given by section&#160;4 of the new Corporations Act . relevant time means the time when the new Corporations Act , as originally enacted, comes into operation. right includes interest and status. State includes the Northern Territory. Territory means the Australian Capital Territory or the Jervis Bay Territory.\n(sec.4-ssec.2) A regulation may provide that a specified Act, or a specified provision of an Act, is a previous State corporations law for the purposes of this Act.\n- (a) of the old corporations legislation means a provision of that legislation that— (i) was in force immediately before the relevant time; and (ii) corresponds to a provision of the new corporations legislation; and\n- (i) was in force immediately before the relevant time; and\n- (ii) corresponds to a provision of the new corporations legislation; and\n- (b) of the old ASIC legislation means a provision of that legislation that— (i) was in force immediately before the relevant time; and (ii) corresponds to a provision of the new ASIC legislation.\n- (i) was in force immediately before the relevant time; and\n- (ii) corresponds to a provision of the new ASIC legislation.\n- (i) was in force immediately before the relevant time; and\n- (ii) corresponds to a provision of the new corporations legislation; and\n- (i) was in force immediately before the relevant time; and\n- (ii) corresponds to a provision of the new ASIC legislation.\n- (a) the new ASIC Act ; and\n- (b) the new ASIC Regulations (as amended and in force from time to time) and any other regulations made under the new ASIC Act ; and\n- (c) the laws of the Commonwealth referred to in paragraph&#160;(a) (ii) and (in relation to the State) paragraph&#160;(b) (iii) of the definition old ASIC legislation in section&#160;254 (1) of the new ASIC Act , being those laws as they apply after the relevant time; and\n- (d) the preserved instruments.\n- (a) the new Corporations Act ; and\n- (b) the new Corporations Regulations (as amended and in force from time to time) and any other regulations made under the new Corporations Act ; and\n- (c) the laws of the Commonwealth referred to (in relation to the State) in paragraph&#160;(c) of the definition old corporations legislation in section&#160;1371 (1) of the new Corporations Act , being those laws as they apply after the relevant time; and\n- (d) the preserved instruments.\n- (a) the old ASIC Law and the old ASIC Regulations, and any instruments made under that law or those regulations; and\n- (b) the old application Act, and any instruments made under that Act, as applying in relation to the old ASIC Law and the old ASIC Regulations from time to time before the relevant time; and\n- (c) the laws of the Commonwealth as applying in relation to the old ASIC Law and the old ASIC Regulations from time to time before the relevant time as laws of, or for the government of, the State because of part&#160;8 of the old application Act, and any instruments made under those laws as so applying.\n- (a) the old Corporations Law and the old Corporations Regulations, and any instruments made under that law or those regulations; and\n- (b) the old application Act, and any instruments made under that Act, as applying in relation to the old Corporations Law and the old Corporations Regulations from time to time before the relevant time; and\n- (c) the laws of the Commonwealth as applying in relation to the old Corporations Law and the old Corporations Regulations from time to time before the relevant time as laws of, or for the government of, the State because of part&#160;8 of the old application Act, and any instruments made under those laws as so applying.\n- (a) in relation to the new corporations legislation, an instrument that, because of section&#160;1399 of the new Corporations Act , has effect after the relevant time as if it were made under a provision of the new corporations legislation; and\n- (b) in relation to the new ASIC legislation, an instrument that, because of section&#160;275 of the new ASIC Act , has effect after the relevant time as if it were made under a provision of the new ASIC legislation.\n- (a) the repealed Companies Act 1961 ; or\n- (b) the repealed Marketable Securities Act 1970 ; or\n- (c) the repealed Securities Industry Act 1975 ; or\n- (d) a cooperative scheme law; or\n- (e) any other Act, or provision of an Act, specified under a regulation under subsection&#160;(2) .","sortOrder":4},{"sectionNumber":"sec.5","sectionType":"section","heading":"Corresponding provision","content":"### sec.5 Corresponding provision\n\nFor this Act, a provision (the old provision ) of the old corporations legislation or the old ASIC legislation corresponds to a provision (the new provision ) of the new corporations legislation or the new ASIC legislation (and vice versa) if—\nthe old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or\na regulation specifies that the 2 provisions correspond.\nFor this Act, a provision (the old provision ) of a previous State corporations law corresponds to a provision (the new provision ) of a national scheme law of this jurisdiction (and vice versa) if—\nthe old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or\na regulation specifies that the 2 provisions correspond.\nFor subsection&#160;(1) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same—\nthe fact that—\nthe old provision allowed a court to exercise powers on its own initiative or motion but the new provision does not; or\nthe old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or\nthe new provision requires ASIC to take account of public interest but the old provision did not;\nother differences that are attributable to the fact that the new corporations legislation and the new ASIC legislation apply as Commonwealth laws in this and other States and in the internal Territories.\nFor subsection&#160;(1) (a) or (2) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same—\ndifferences in the numbering of the provisions;\ndifferences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references);\nthe fact that one of the provisions refers to a corresponding previous law and the other does not;\nother differences of a kind prescribed under a regulation for this paragraph.\nSubsections&#160;(3) and (4) are not intended to otherwise limit the circumstances in which 2 provisions are, for subsection&#160;(1) (a) or (2) (a) , substantially the same.\ns&#160;5 (6) exp 30 June 2003 (see s&#160;28(1))\n(sec.5-ssec.1) For this Act, a provision (the old provision ) of the old corporations legislation or the old ASIC legislation corresponds to a provision (the new provision ) of the new corporations legislation or the new ASIC legislation (and vice versa) if— the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or a regulation specifies that the 2 provisions correspond.\n(sec.5-ssec.2) For this Act, a provision (the old provision ) of a previous State corporations law corresponds to a provision (the new provision ) of a national scheme law of this jurisdiction (and vice versa) if— the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or a regulation specifies that the 2 provisions correspond.\n(sec.5-ssec.3) For subsection&#160;(1) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same— the fact that— the old provision allowed a court to exercise powers on its own initiative or motion but the new provision does not; or the old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or the new provision requires ASIC to take account of public interest but the old provision did not; other differences that are attributable to the fact that the new corporations legislation and the new ASIC legislation apply as Commonwealth laws in this and other States and in the internal Territories.\n(sec.5-ssec.4) For subsection&#160;(1) (a) or (2) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same— differences in the numbering of the provisions; differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references); the fact that one of the provisions refers to a corresponding previous law and the other does not; other differences of a kind prescribed under a regulation for this paragraph.\n(sec.5-ssec.5) Subsections&#160;(3) and (4) are not intended to otherwise limit the circumstances in which 2 provisions are, for subsection&#160;(1) (a) or (2) (a) , substantially the same.\n- (a) the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or\n- (b) a regulation specifies that the 2 provisions correspond.\n- (a) the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or\n- (b) a regulation specifies that the 2 provisions correspond.\n- (a) the fact that— (i) the old provision allowed a court to exercise powers on its own initiative or motion but the new provision does not; or (ii) the old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or (iii) the new provision requires ASIC to take account of public interest but the old provision did not;\n- (i) the old provision allowed a court to exercise powers on its own initiative or motion but the new provision does not; or\n- (ii) the old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or\n- (iii) the new provision requires ASIC to take account of public interest but the old provision did not;\n- (b) other differences that are attributable to the fact that the new corporations legislation and the new ASIC legislation apply as Commonwealth laws in this and other States and in the internal Territories.\n- (i) the old provision allowed a court to exercise powers on its own initiative or motion but the new provision does not; or\n- (ii) the old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or\n- (iii) the new provision requires ASIC to take account of public interest but the old provision did not;\n- (a) differences in the numbering of the provisions;\n- (b) differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references);\n- (c) the fact that one of the provisions refers to a corresponding previous law and the other does not;\n- (d) other differences of a kind prescribed under a regulation for this paragraph.","sortOrder":5},{"sectionNumber":"sec.6","sectionType":"section","heading":"Operation of Act","content":"### sec.6 Operation of Act\n\nThis Act has effect despite any provision of the old application Act or of the applicable provisions (as defined in that Act) of the State.","sortOrder":6},{"sectionNumber":"pt.2","sectionType":"part","heading":"Transitional provisions","content":"# Transitional provisions","sortOrder":7},{"sectionNumber":"sec.7","sectionType":"section","heading":"National scheme laws","content":"### sec.7 National scheme laws\n\nThe national scheme laws of this jurisdiction operate of their own force only in relation to—\nmatters arising before the relevant time; and\nmatters arising, directly or indirectly, out of matters mentioned in paragraph&#160;(a);\nin so far as those matters are not dealt with by the new corporations legislation, the new ASIC legislation or the cooperative scheme law.\nExcept as provided by subsection&#160;(1) and section&#160;10, the national scheme laws of this jurisdiction have no operation of their own force at and after the relevant time.\n(sec.7-ssec.1) The national scheme laws of this jurisdiction operate of their own force only in relation to— matters arising before the relevant time; and matters arising, directly or indirectly, out of matters mentioned in paragraph&#160;(a); in so far as those matters are not dealt with by the new corporations legislation, the new ASIC legislation or the cooperative scheme law.\n(sec.7-ssec.2) Except as provided by subsection&#160;(1) and section&#160;10, the national scheme laws of this jurisdiction have no operation of their own force at and after the relevant time.\n- (a) matters arising before the relevant time; and\n- (b) matters arising, directly or indirectly, out of matters mentioned in paragraph&#160;(a);","sortOrder":8},{"sectionNumber":"sec.8","sectionType":"section","heading":"Effect of section&#160;7","content":"### sec.8 Effect of section&#160;7\n\nTo the extent that a national scheme law of this jurisdiction ceases to operate of its own force because of section&#160;7, the effect is that which would have resulted had this Act and that law been Commonwealth Acts in relation to which the Acts Interpretation Act 1901 (Cwlth) as in force on 1 November 2000 applied.\nPart III of the Acts Interpretation Act 1901 (Cwlth) contains provisions dealing with the effect of repeal of an Act. These provisions protect accrued rights and liabilities and allow legal proceedings in respect of them to be commenced or continued. However, this section and section&#160;10 have the effect of cancelling certain rights and liabilities and terminating certain legal proceedings.\nDespite subsection&#160;(1), if by force of chapter&#160;10 of the new Corporations Act or part&#160;16 of the new ASIC Act a person acquires, accrues or incurs a right or liability in substitution for a pre-commencement right or liability, the pre-commencement right or liability is cancelled at the relevant time and ceases at that time to be a right or liability under a law of the State.\nDespite subsection&#160;(1), a proceeding in a court that—\nwas started before the relevant time; and\nwas—\nunder a provision of the old corporations legislation or the old ASIC legislation; or\nbrought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation; and\nwas a proceeding to which section&#160;1383 of the new Corporations Act or section&#160;267 of the new ASIC Act applies at the relevant time; and\nhad not been concluded or terminated before the relevant time;\nis terminated at the relevant time by force of this subsection.\nDespite subsection&#160;(1), if by force of a Commonwealth Act (other than the new Corporations Act ) referred to in sections&#160;1393 to 1396 of the new Corporations Act a person becomes liable to pay an amount that is the same, and is in respect of the same matter, as an amount (the pre-commencement amount ) that was payable by the person before the relevant time under a provision of the old corporations legislation, the person’s liability to pay the pre-commencement amount is cancelled at the relevant time and ceases at that time to be a liability under a law of the State.\nIn subsection&#160;(2)—\npre-commencement right or liability means a right or liability, whether civil or criminal, other than a right or liability under an order made by a court before the relevant time or a liability referred to in section&#160;1397 (4) of the new Corporations Act , that—\nwas acquired, accrued or incurred under—\na carried over provision of the old corporations legislation or the old ASIC legislation; or\na provision of the old corporations legislation or the old ASIC legislation that was no longer in force immediately before the relevant time; and\nwas in existence immediately before the relevant time.\nNothing in this Act revives the cooperative scheme law or otherwise affects the superseding of those laws by the national scheme laws of this jurisdiction as provided by division&#160;2 of part&#160;13 of the old application Act and any regulations made under section&#160;80 of that Act for the purposes of that division.\n(sec.8-ssec.1) To the extent that a national scheme law of this jurisdiction ceases to operate of its own force because of section&#160;7, the effect is that which would have resulted had this Act and that law been Commonwealth Acts in relation to which the Acts Interpretation Act 1901 (Cwlth) as in force on 1 November 2000 applied. Part III of the Acts Interpretation Act 1901 (Cwlth) contains provisions dealing with the effect of repeal of an Act. These provisions protect accrued rights and liabilities and allow legal proceedings in respect of them to be commenced or continued. However, this section and section&#160;10 have the effect of cancelling certain rights and liabilities and terminating certain legal proceedings.\n(sec.8-ssec.2) Despite subsection&#160;(1), if by force of chapter&#160;10 of the new Corporations Act or part&#160;16 of the new ASIC Act a person acquires, accrues or incurs a right or liability in substitution for a pre-commencement right or liability, the pre-commencement right or liability is cancelled at the relevant time and ceases at that time to be a right or liability under a law of the State.\n(sec.8-ssec.3) Despite subsection&#160;(1), a proceeding in a court that— was started before the relevant time; and was— under a provision of the old corporations legislation or the old ASIC legislation; or brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation; and was a proceeding to which section&#160;1383 of the new Corporations Act or section&#160;267 of the new ASIC Act applies at the relevant time; and had not been concluded or terminated before the relevant time; is terminated at the relevant time by force of this subsection.\n(sec.8-ssec.4) Despite subsection&#160;(1), if by force of a Commonwealth Act (other than the new Corporations Act ) referred to in sections&#160;1393 to 1396 of the new Corporations Act a person becomes liable to pay an amount that is the same, and is in respect of the same matter, as an amount (the pre-commencement amount ) that was payable by the person before the relevant time under a provision of the old corporations legislation, the person’s liability to pay the pre-commencement amount is cancelled at the relevant time and ceases at that time to be a liability under a law of the State.\n(sec.8-ssec.5) In subsection&#160;(2)— pre-commencement right or liability means a right or liability, whether civil or criminal, other than a right or liability under an order made by a court before the relevant time or a liability referred to in section&#160;1397 (4) of the new Corporations Act , that— was acquired, accrued or incurred under— a carried over provision of the old corporations legislation or the old ASIC legislation; or a provision of the old corporations legislation or the old ASIC legislation that was no longer in force immediately before the relevant time; and was in existence immediately before the relevant time.\n(sec.8-ssec.6) Nothing in this Act revives the cooperative scheme law or otherwise affects the superseding of those laws by the national scheme laws of this jurisdiction as provided by division&#160;2 of part&#160;13 of the old application Act and any regulations made under section&#160;80 of that Act for the purposes of that division.\n- (a) was started before the relevant time; and\n- (b) was— (i) under a provision of the old corporations legislation or the old ASIC legislation; or (ii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation; and\n- (i) under a provision of the old corporations legislation or the old ASIC legislation; or\n- (ii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation; and\n- (c) was a proceeding to which section&#160;1383 of the new Corporations Act or section&#160;267 of the new ASIC Act applies at the relevant time; and\n- (d) had not been concluded or terminated before the relevant time;\n- (i) under a provision of the old corporations legislation or the old ASIC legislation; or\n- (ii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation; and\n- (a) was acquired, accrued or incurred under— (i) a carried over provision of the old corporations legislation or the old ASIC legislation; or (ii) a provision of the old corporations legislation or the old ASIC legislation that was no longer in force immediately before the relevant time; and\n- (i) a carried over provision of the old corporations legislation or the old ASIC legislation; or\n- (ii) a provision of the old corporations legislation or the old ASIC legislation that was no longer in force immediately before the relevant time; and\n- (b) was in existence immediately before the relevant time.\n- (i) a carried over provision of the old corporations legislation or the old ASIC legislation; or\n- (ii) a provision of the old corporations legislation or the old ASIC legislation that was no longer in force immediately before the relevant time; and","sortOrder":9},{"sectionNumber":"sec.9","sectionType":"section","heading":"Certain provisions of State law taken to operate despite national&#160;scheme&#160;law","content":"### sec.9 Certain provisions of State law taken to operate despite national&#160;scheme&#160;law\n\nAny provision of a relevant law of the State that—\nmakes (or, if not in force, would make on coming into force) provision in relation to a matter in a way that is inconsistent with a provision or provisions of a national scheme law of this jurisdiction; or\nbut for the operation of section&#160;5 of the old application Act would have made (or, if not in force, would have made on coming into force) provision in relation to a matter in a way that is inconsistent with a provision or provisions of a national scheme law of this jurisdiction;\nis declared by this subsection to have effect despite the provision or provisions of the national scheme law of this jurisdiction with which it is inconsistent and as if the relevant law, or (in the case of a relevant law that is not an Act) the Act under which the relevant law was made, had itself provided expressly for this outcome.\nSection&#160;5G of the Corporations Act applies to a provision of a State law that is inconsistent with a provision of the Corporations legislation to which part&#160;1.1A of that Act applies if that provision operated, immediately before the commencement of that Act, despite the provision of the old Corporations Law or the old ASIC Law that corresponds to the Commonwealth provision.\nAny provision of a relevant law of the State that provides that the whole of a previous State corporations law or a specified provision of a previous State corporations law does not apply to a matter is declared by this subsection to also provide that the whole of the old Corporations Law and the old ASIC Law or the corresponding provision (if any) of the old Corporations Law or the old ASIC Law (as the case requires) does not apply to that matter.\nUnder section&#160;5F (4) of the Corporations Act if the old Corporations Law or the old ASIC law, or a provision of that Law, did not apply to a matter immediately before the commencement of that Act, then the Corporations legislation to which part&#160;1.1A of that Act applies, or the corresponding provision of that legislation, does not apply to the matter.\nFor subsection&#160;(1), a provision of a relevant law of the State is inconsistent with a provision of a national scheme law of this jurisdiction if it would be inconsistent within the meaning of section&#160;109 of the Commonwealth Constitution if the national scheme law were an Act of the Commonwealth.\nNothing in this section affects the operation of section&#160;6 of the old application Act in relation to an Act (a relevant Act ) enacted before the commencement of that section or an instrument made under a relevant Act.\nIn this section—\nmatter includes act, omission, body, person or thing.\nrelevant law of the State means a law of the State enacted or made before the relevant time (whether or not it is in force before that time) other than a national scheme law of this jurisdiction or a previous State corporations law.\ns&#160;9 (3) exp 30 June 2003 (see s&#160;28(1))\n(sec.9-ssec.1) Any provision of a relevant law of the State that— makes (or, if not in force, would make on coming into force) provision in relation to a matter in a way that is inconsistent with a provision or provisions of a national scheme law of this jurisdiction; or but for the operation of section&#160;5 of the old application Act would have made (or, if not in force, would have made on coming into force) provision in relation to a matter in a way that is inconsistent with a provision or provisions of a national scheme law of this jurisdiction; is declared by this subsection to have effect despite the provision or provisions of the national scheme law of this jurisdiction with which it is inconsistent and as if the relevant law, or (in the case of a relevant law that is not an Act) the Act under which the relevant law was made, had itself provided expressly for this outcome. Section&#160;5G of the Corporations Act applies to a provision of a State law that is inconsistent with a provision of the Corporations legislation to which part&#160;1.1A of that Act applies if that provision operated, immediately before the commencement of that Act, despite the provision of the old Corporations Law or the old ASIC Law that corresponds to the Commonwealth provision.\n(sec.9-ssec.2) Any provision of a relevant law of the State that provides that the whole of a previous State corporations law or a specified provision of a previous State corporations law does not apply to a matter is declared by this subsection to also provide that the whole of the old Corporations Law and the old ASIC Law or the corresponding provision (if any) of the old Corporations Law or the old ASIC Law (as the case requires) does not apply to that matter. Under section&#160;5F (4) of the Corporations Act if the old Corporations Law or the old ASIC law, or a provision of that Law, did not apply to a matter immediately before the commencement of that Act, then the Corporations legislation to which part&#160;1.1A of that Act applies, or the corresponding provision of that legislation, does not apply to the matter.\n(sec.9-ssec.4) For subsection&#160;(1), a provision of a relevant law of the State is inconsistent with a provision of a national scheme law of this jurisdiction if it would be inconsistent within the meaning of section&#160;109 of the Commonwealth Constitution if the national scheme law were an Act of the Commonwealth.\n(sec.9-ssec.5) Nothing in this section affects the operation of section&#160;6 of the old application Act in relation to an Act (a relevant Act ) enacted before the commencement of that section or an instrument made under a relevant Act.\n(sec.9-ssec.6) In this section— matter includes act, omission, body, person or thing. relevant law of the State means a law of the State enacted or made before the relevant time (whether or not it is in force before that time) other than a national scheme law of this jurisdiction or a previous State corporations law.\n- (a) makes (or, if not in force, would make on coming into force) provision in relation to a matter in a way that is inconsistent with a provision or provisions of a national scheme law of this jurisdiction; or\n- (b) but for the operation of section&#160;5 of the old application Act would have made (or, if not in force, would have made on coming into force) provision in relation to a matter in a way that is inconsistent with a provision or provisions of a national scheme law of this jurisdiction;","sortOrder":10},{"sectionNumber":"sec.10","sectionType":"section","heading":"Court proceedings and orders","content":"### sec.10 Court proceedings and orders\n\nThis section applies to a proceeding, whether criminal or civil, in relation to which the following paragraphs are satisfied—\nthe proceeding was started in a court before the relevant time;\nthe proceeding was—\nunder a provision of the old corporations legislation or the old ASIC legislation; or\nbrought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation;\nthe proceeding was not a proceeding to which section&#160;1383 or 1384 of the new Corporations Act or section&#160;267 or 268 of the new ASIC Act applies;\nthe proceeding had not been concluded or terminated before the relevant time.\nWithout limiting section&#160;8(1) but subject to subsection&#160;(3), a proceeding (a relevant proceeding ) to which this section applies may be continued, and any order made by a court in a relevant proceeding may be appealed against, reviewed or enforced as if section&#160;7 had not been enacted.\nNothing in this part, or in the Acts Interpretation Act 1901 (Cwlth) as applying by force of section&#160;8(1), operates to preserve the effect of an order (a relevant order ) to which section&#160;1383 (5) of the new Corporations Act or section&#160;267 (5) of the new ASIC Act applies and, at the relevant time, that order ceases to have effect as an order of the court by which it was made and any proceeding in relation to a relevant order is terminated by force of this subsection.\nFor the avoidance of doubt, part&#160;9 of the old application Act continues to have the same application to a proceeding to which this section applies as it did before the relevant time.\nIn this section—\nproceeding includes—\na proceeding by way of appeal against, or otherwise seeking review of, an order made by a court; and\na proceeding to enforce an order made by a court; and\nany other proceeding in respect of a breach of an order made by a court.\n(sec.10-ssec.1) This section applies to a proceeding, whether criminal or civil, in relation to which the following paragraphs are satisfied— the proceeding was started in a court before the relevant time; the proceeding was— under a provision of the old corporations legislation or the old ASIC legislation; or brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation; the proceeding was not a proceeding to which section&#160;1383 or 1384 of the new Corporations Act or section&#160;267 or 268 of the new ASIC Act applies; the proceeding had not been concluded or terminated before the relevant time.\n(sec.10-ssec.2) Without limiting section&#160;8(1) but subject to subsection&#160;(3), a proceeding (a relevant proceeding ) to which this section applies may be continued, and any order made by a court in a relevant proceeding may be appealed against, reviewed or enforced as if section&#160;7 had not been enacted.\n(sec.10-ssec.3) Nothing in this part, or in the Acts Interpretation Act 1901 (Cwlth) as applying by force of section&#160;8(1), operates to preserve the effect of an order (a relevant order ) to which section&#160;1383 (5) of the new Corporations Act or section&#160;267 (5) of the new ASIC Act applies and, at the relevant time, that order ceases to have effect as an order of the court by which it was made and any proceeding in relation to a relevant order is terminated by force of this subsection.\n(sec.10-ssec.4) For the avoidance of doubt, part&#160;9 of the old application Act continues to have the same application to a proceeding to which this section applies as it did before the relevant time.\n(sec.10-ssec.5) In this section— proceeding includes— a proceeding by way of appeal against, or otherwise seeking review of, an order made by a court; and a proceeding to enforce an order made by a court; and any other proceeding in respect of a breach of an order made by a court.\n- (a) the proceeding was started in a court before the relevant time;\n- (b) the proceeding was— (i) under a provision of the old corporations legislation or the old ASIC legislation; or (ii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation;\n- (i) under a provision of the old corporations legislation or the old ASIC legislation; or\n- (ii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation;\n- (c) the proceeding was not a proceeding to which section&#160;1383 or 1384 of the new Corporations Act or section&#160;267 or 268 of the new ASIC Act applies;\n- (d) the proceeding had not been concluded or terminated before the relevant time.\n- (i) under a provision of the old corporations legislation or the old ASIC legislation; or\n- (ii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation or the old ASIC legislation;\n- (a) a proceeding by way of appeal against, or otherwise seeking review of, an order made by a court; and\n- (b) a proceeding to enforce an order made by a court; and\n- (c) any other proceeding in respect of a breach of an order made by a court.","sortOrder":11},{"sectionNumber":"sec.11","sectionType":"section","heading":"Existing rules of court continue to have effect","content":"### sec.11 Existing rules of court continue to have effect\n\nThe corporation rules of court, as in force immediately before the relevant time, continue to have effect (and may be dealt with) at and after the relevant time as if—\nthey were rules of court in force under section&#160;24 and the Supreme Court of Queensland Act 1991 ; and\nthey were made for the purposes of the provisions of the corporations legislation (within the meaning of section&#160;24) that correspond to the provisions of the old Corporations Law for which they were made.\nIn this section—\ncorporation rules of court means rules of court made under the Supreme Court of Queensland Act 1991 , section&#160;85 in relation to a matter mentioned in schedule&#160;1 , section&#160;25 , and all other enabling powers.\ns&#160;11 amd 1991 No.&#160;68 s&#160;122 sch&#160;1C renum as 1991 No.&#160;68 s&#160;96 sch&#160;4 (amd 2011 No.&#160;45 ss&#160;207 , 209 )\n(sec.11-ssec.1) The corporation rules of court, as in force immediately before the relevant time, continue to have effect (and may be dealt with) at and after the relevant time as if— they were rules of court in force under section&#160;24 and the Supreme Court of Queensland Act 1991 ; and they were made for the purposes of the provisions of the corporations legislation (within the meaning of section&#160;24) that correspond to the provisions of the old Corporations Law for which they were made.\n(sec.11-ssec.2) In this section— corporation rules of court means rules of court made under the Supreme Court of Queensland Act 1991 , section&#160;85 in relation to a matter mentioned in schedule&#160;1 , section&#160;25 , and all other enabling powers.\n- (a) they were rules of court in force under section&#160;24 and the Supreme Court of Queensland Act 1991 ; and\n- (b) they were made for the purposes of the provisions of the corporations legislation (within the meaning of section&#160;24) that correspond to the provisions of the old Corporations Law for which they were made.","sortOrder":12},{"sectionNumber":"sec.12","sectionType":"section","heading":"References to old/new corporations legislation or old/new ASIC&#160;legislation","content":"### sec.12 References to old/new corporations legislation or old/new ASIC&#160;legislation\n\nSubject to subsections&#160;(2) and (3), a reference in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to—\na law, regulations or instrument of a kind specified in column 1 of the table in schedule&#160;1 is taken, at and after the relevant time, to include a reference to the Act , regulations or instrument of the kind specified opposite it in column 2 of that table; or\na provision or group of provisions of a law, regulations or instrument of a kind specified in column 1 of the table in schedule&#160;1 is taken, at and after the relevant time, to include a reference to the corresponding provision or provisions (if any) of the Act , regulations or instrument of the kind specified opposite it in column 2 of that table.\nSubsection&#160;(1) does not apply in relation to references in, or taken immediately before the relevant time to be in—\nthe old application Act or the applicable provisions (as defined in that Act) of the State; or\na previous State corporations law or an instrument made under a previous State corporations law; or\nthis Act or any regulation made under this Act; or\nthe Acts Interpretation Act 1954 ; or\nany other Act, or any provision of an Act, or any kind of Act or provision of an Act, specified under a regulation; or\nan instrument made under an Act, or any provision of an instrument made under an Act, or any kind of instrument (an identified instrument ) made under an Act or provision of an identified instrument, specified under a regulation; or\na law applying as a law of the State by force of an Act, or any provision of a law applying as a law of the State by force of an Act, or any kind of law (an identified law ) applying as a law of the State by force of an Act or provision of an identified law, specified under a regulation.\nAn express reference in an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to—\nan Act, regulations or other instrument forming part of the new corporations legislation or the new ASIC legislation; or\na provision or group of provisions of an Act, regulations or other instrument mentioned in paragraph&#160;(a);\nis taken, in relation to events, circumstances or things that happened or arose at a time before the relevant time, to include (unless the contrary intention appears or the context of the reference otherwise requires) a reference to the corresponding provision or provisions of the old corporations legislation, or the old ASIC legislation, as the case requires, of this jurisdiction and of each other jurisdiction referred to in sections&#160;12 (2) and (3) and 64 (2) and (3) of the old application Act.\ns&#160;12 (2), (4) and (6) exp 30 June 2003 (see s&#160;28(1))\n(sec.12-ssec.1) Subject to subsections&#160;(2) and (3), a reference in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to— a law, regulations or instrument of a kind specified in column 1 of the table in schedule&#160;1 is taken, at and after the relevant time, to include a reference to the Act , regulations or instrument of the kind specified opposite it in column 2 of that table; or a provision or group of provisions of a law, regulations or instrument of a kind specified in column 1 of the table in schedule&#160;1 is taken, at and after the relevant time, to include a reference to the corresponding provision or provisions (if any) of the Act , regulations or instrument of the kind specified opposite it in column 2 of that table.\n(sec.12-ssec.3) Subsection&#160;(1) does not apply in relation to references in, or taken immediately before the relevant time to be in— the old application Act or the applicable provisions (as defined in that Act) of the State; or a previous State corporations law or an instrument made under a previous State corporations law; or this Act or any regulation made under this Act; or the Acts Interpretation Act 1954 ; or any other Act, or any provision of an Act, or any kind of Act or provision of an Act, specified under a regulation; or an instrument made under an Act, or any provision of an instrument made under an Act, or any kind of instrument (an identified instrument ) made under an Act or provision of an identified instrument, specified under a regulation; or a law applying as a law of the State by force of an Act, or any provision of a law applying as a law of the State by force of an Act, or any kind of law (an identified law ) applying as a law of the State by force of an Act or provision of an identified law, specified under a regulation.\n(sec.12-ssec.5) An express reference in an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to— an Act, regulations or other instrument forming part of the new corporations legislation or the new ASIC legislation; or a provision or group of provisions of an Act, regulations or other instrument mentioned in paragraph&#160;(a); is taken, in relation to events, circumstances or things that happened or arose at a time before the relevant time, to include (unless the contrary intention appears or the context of the reference otherwise requires) a reference to the corresponding provision or provisions of the old corporations legislation, or the old ASIC legislation, as the case requires, of this jurisdiction and of each other jurisdiction referred to in sections&#160;12 (2) and (3) and 64 (2) and (3) of the old application Act.\n- (a) a law, regulations or instrument of a kind specified in column 1 of the table in schedule&#160;1 is taken, at and after the relevant time, to include a reference to the Act , regulations or instrument of the kind specified opposite it in column 2 of that table; or\n- (b) a provision or group of provisions of a law, regulations or instrument of a kind specified in column 1 of the table in schedule&#160;1 is taken, at and after the relevant time, to include a reference to the corresponding provision or provisions (if any) of the Act , regulations or instrument of the kind specified opposite it in column 2 of that table.\n- (a) the old application Act or the applicable provisions (as defined in that Act) of the State; or\n- (b) a previous State corporations law or an instrument made under a previous State corporations law; or\n- (c) this Act or any regulation made under this Act; or\n- (d) the Acts Interpretation Act 1954 ; or\n- (e) any other Act, or any provision of an Act, or any kind of Act or provision of an Act, specified under a regulation; or\n- (f) an instrument made under an Act, or any provision of an instrument made under an Act, or any kind of instrument (an identified instrument ) made under an Act or provision of an identified instrument, specified under a regulation; or\n- (g) a law applying as a law of the State by force of an Act, or any provision of a law applying as a law of the State by force of an Act, or any kind of law (an identified law ) applying as a law of the State by force of an Act or provision of an identified law, specified under a regulation.\n- (a) an Act, regulations or other instrument forming part of the new corporations legislation or the new ASIC legislation; or\n- (b) a provision or group of provisions of an Act, regulations or other instrument mentioned in paragraph&#160;(a);","sortOrder":13},{"sectionNumber":"sec.13","sectionType":"section","heading":"References to companies incorporated in a State or Territory","content":"### sec.13 References to companies incorporated in a State or Territory\n\nUnless the contrary intention appears and subject to subsections&#160;(2) and (4), a reference (however expressed) in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to—\na company (within the meaning of the Corporations Law of Queensland or of another State or a Territory) incorporated in Queensland or that other State or that Territory; or\na company that is incorporated under the Corporations Law of Queensland or of another State or a Territory; or\na company that is registered or taken to be registered under the Corporations Law of Queensland or of another State or a Territory; or\na body that is taken to be registered as a company under the Corporations Law of Queensland or of another State or a Territory;\nis taken, after the relevant time, to be a reference to a company that, under section&#160;119A or 1378 (4) of the new Corporations Act , is taken to be registered in Queensland or that other State or that Territory, as the case requires.\nUnless the contrary intention appears and subject to subsection&#160;(4), a reference (however expressed) in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to a foreign company (within the meaning of the Corporations Law of Queensland or of another State or a Territory) is taken, after the relevant time, to be a reference to a foreign company within the meaning of the new Corporations Act .\nUnless the contrary intention appears and subject to subsection&#160;(4), a reference (however expressed) in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to the jurisdiction of incorporation of a corporation, being a company registered or taken to be registered under the Corporations Law of Queensland or of another State or a Territory, is taken, after the relevant time, to be a reference to the State or Territory in which the corporation is taken to be registered under section&#160;119A or 1378 (4) of the new Corporations Act .\ns&#160;13 (4) exp 30 June 2003 (see s&#160;28(1))\n(sec.13-ssec.1) Unless the contrary intention appears and subject to subsections&#160;(2) and (4), a reference (however expressed) in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to— a company (within the meaning of the Corporations Law of Queensland or of another State or a Territory) incorporated in Queensland or that other State or that Territory; or a company that is incorporated under the Corporations Law of Queensland or of another State or a Territory; or a company that is registered or taken to be registered under the Corporations Law of Queensland or of another State or a Territory; or a body that is taken to be registered as a company under the Corporations Law of Queensland or of another State or a Territory; is taken, after the relevant time, to be a reference to a company that, under section&#160;119A or 1378 (4) of the new Corporations Act , is taken to be registered in Queensland or that other State or that Territory, as the case requires.\n(sec.13-ssec.2) Unless the contrary intention appears and subject to subsection&#160;(4), a reference (however expressed) in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to a foreign company (within the meaning of the Corporations Law of Queensland or of another State or a Territory) is taken, after the relevant time, to be a reference to a foreign company within the meaning of the new Corporations Act .\n(sec.13-ssec.3) Unless the contrary intention appears and subject to subsection&#160;(4), a reference (however expressed) in, or taken immediately before the relevant time to be in, an Act, an instrument made under an Act or a law applying as a law of the State by force of an Act to the jurisdiction of incorporation of a corporation, being a company registered or taken to be registered under the Corporations Law of Queensland or of another State or a Territory, is taken, after the relevant time, to be a reference to the State or Territory in which the corporation is taken to be registered under section&#160;119A or 1378 (4) of the new Corporations Act .\n- (a) a company (within the meaning of the Corporations Law of Queensland or of another State or a Territory) incorporated in Queensland or that other State or that Territory; or\n- (b) a company that is incorporated under the Corporations Law of Queensland or of another State or a Territory; or\n- (c) a company that is registered or taken to be registered under the Corporations Law of Queensland or of another State or a Territory; or\n- (d) a body that is taken to be registered as a company under the Corporations Law of Queensland or of another State or a Territory;","sortOrder":14},{"sectionNumber":"pt.3","sectionType":"part","heading":"Application of Commonwealth Corporations legislation to State matters","content":"# Application of Commonwealth Corporations legislation to State matters","sortOrder":15},{"sectionNumber":"sec.14","sectionType":"section","heading":"Definitions for pt&#160;3","content":"### sec.14 Definitions for pt&#160;3\n\nIn this part—\napplied law means a provision or provisions of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, that this part applies to a matter as if the provision or provisions were a law or laws of the State.\nconfer includes impose.\nCorporations legislation means the Corporations legislation to which part&#160;1.1 A of the new Corporations Act applies.\ndeclaratory provision means a provision of a law of the State to which this part applies by operation of section&#160;15 .\nfunction includes power.\nmatter includes act, omission, body, person or thing.\nchange includes addition, exception, omission or substitution.\nperform includes exercise.","sortOrder":16},{"sectionNumber":"sec.15","sectionType":"section","heading":"State provisions to which this part applies","content":"### sec.15 State provisions to which this part applies\n\nThis part applies to a provision of a law of the State if the provision declares a matter to be an applied Corporations legislation matter for the purposes of this part in relation to any of the following (whether with or without changes)—\nthe whole of the Corporations legislation;\na specified Act, regulations or other instrument forming part of the Corporations legislation;\na specified provision or provisions of the Corporations legislation or of an Act, regulations or other instrument forming part of the Corporations legislation.\nSubsection&#160;(1) does not apply to a provision of a law of the State to the extent that it declares a matter to be an applied Corporations legislation matter for the purposes of this part in relation to a provision or provisions of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, that already applies to the matter as a law of the Commonwealth.\n(sec.15-ssec.1) This part applies to a provision of a law of the State if the provision declares a matter to be an applied Corporations legislation matter for the purposes of this part in relation to any of the following (whether with or without changes)— the whole of the Corporations legislation; a specified Act, regulations or other instrument forming part of the Corporations legislation; a specified provision or provisions of the Corporations legislation or of an Act, regulations or other instrument forming part of the Corporations legislation.\n(sec.15-ssec.2) Subsection&#160;(1) does not apply to a provision of a law of the State to the extent that it declares a matter to be an applied Corporations legislation matter for the purposes of this part in relation to a provision or provisions of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, that already applies to the matter as a law of the Commonwealth.\n- (a) the whole of the Corporations legislation;\n- (b) a specified Act, regulations or other instrument forming part of the Corporations legislation;\n- (c) a specified provision or provisions of the Corporations legislation or of an Act, regulations or other instrument forming part of the Corporations legislation.","sortOrder":17},{"sectionNumber":"sec.16","sectionType":"section","heading":"Effect of declaratory provisions","content":"### sec.16 Effect of declaratory provisions\n\nSubject to this part, a declaratory provision has effect in relation to a matter as follows—\nif the declaratory provision is one to which section&#160;15 (1) (a) applies—the whole of the Corporations legislation applies to the matter as if it were a law of the State;\nif the declaratory provision is one to which section&#160;15 (1) (b) applies—the Act , regulations or other instrument specified by the declaratory provision applies or apply to the matter as if it or they were a law or laws of the State;\nif the declaratory provision is one to which section&#160;15 (1) (c) applies—the provision or provisions specified by the declaratory provision applies or apply in relation to the matter as if it or they were a law or laws of the State.\nA provision applied to a matter by a declaratory provision, or taken by force of section&#160;20 (1) to apply to the matter, is applied as in force for the time being unless the declaratory provision applies it as in force at a particular time specified by the declaratory provision.\n(sec.16-ssec.1) Subject to this part, a declaratory provision has effect in relation to a matter as follows— if the declaratory provision is one to which section&#160;15 (1) (a) applies—the whole of the Corporations legislation applies to the matter as if it were a law of the State; if the declaratory provision is one to which section&#160;15 (1) (b) applies—the Act , regulations or other instrument specified by the declaratory provision applies or apply to the matter as if it or they were a law or laws of the State; if the declaratory provision is one to which section&#160;15 (1) (c) applies—the provision or provisions specified by the declaratory provision applies or apply in relation to the matter as if it or they were a law or laws of the State.\n(sec.16-ssec.2) A provision applied to a matter by a declaratory provision, or taken by force of section&#160;20 (1) to apply to the matter, is applied as in force for the time being unless the declaratory provision applies it as in force at a particular time specified by the declaratory provision.\n- (a) if the declaratory provision is one to which section&#160;15 (1) (a) applies—the whole of the Corporations legislation applies to the matter as if it were a law of the State;\n- (b) if the declaratory provision is one to which section&#160;15 (1) (b) applies—the Act , regulations or other instrument specified by the declaratory provision applies or apply to the matter as if it or they were a law or laws of the State;\n- (c) if the declaratory provision is one to which section&#160;15 (1) (c) applies—the provision or provisions specified by the declaratory provision applies or apply in relation to the matter as if it or they were a law or laws of the State.","sortOrder":18},{"sectionNumber":"sec.17","sectionType":"section","heading":"Changes to applied law","content":"### sec.17 Changes to applied law\n\nThis part operates to apply a provision of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, as a law of the State subject to the following changes—\nthe changes that may be specified by or under the law containing the declaratory provision;\na reference to ASIC is (unless a function under an applied law is conferred on ASIC as referred to in section&#160;18 ) taken to be a reference to—\nthe Minister administering the declaratory provision or the other person (or person belonging to a class of person) who may be specified under a regulation (whether generally or in relation to a particular applied law); or\nanother person who may be specified by or under the declaratory provision;\na reference to the gazette is a reference to the Queensland Government Gazette;\na reference to the Minister is a reference to the Minister administering the declaratory provision;\na reference to this jurisdiction is a reference to Queensland.\nExcept as provided by subsection&#160;(1) , definitions and other interpretation provisions of the Corporations legislation, or of the Act , regulations or other instrument forming part of the Corporations legislation, relevant to the applied law are taken also to apply to the matter that is the subject of the declaratory provision.\nThis section has effect subject to sections&#160;18 to 21 .\ns&#160;17 (1)(f) and (2) exp 30 June 2003 (see s&#160;28(1))\n(sec.17-ssec.1) This part operates to apply a provision of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, as a law of the State subject to the following changes— the changes that may be specified by or under the law containing the declaratory provision; a reference to ASIC is (unless a function under an applied law is conferred on ASIC as referred to in section&#160;18 ) taken to be a reference to— the Minister administering the declaratory provision or the other person (or person belonging to a class of person) who may be specified under a regulation (whether generally or in relation to a particular applied law); or another person who may be specified by or under the declaratory provision; a reference to the gazette is a reference to the Queensland Government Gazette; a reference to the Minister is a reference to the Minister administering the declaratory provision; a reference to this jurisdiction is a reference to Queensland.\n(sec.17-ssec.3) Except as provided by subsection&#160;(1) , definitions and other interpretation provisions of the Corporations legislation, or of the Act , regulations or other instrument forming part of the Corporations legislation, relevant to the applied law are taken also to apply to the matter that is the subject of the declaratory provision.\n(sec.17-ssec.4) This section has effect subject to sections&#160;18 to 21 .\n- (a) the changes that may be specified by or under the law containing the declaratory provision;\n- (b) a reference to ASIC is (unless a function under an applied law is conferred on ASIC as referred to in section&#160;18 ) taken to be a reference to— (i) the Minister administering the declaratory provision or the other person (or person belonging to a class of person) who may be specified under a regulation (whether generally or in relation to a particular applied law); or (ii) another person who may be specified by or under the declaratory provision;\n- (i) the Minister administering the declaratory provision or the other person (or person belonging to a class of person) who may be specified under a regulation (whether generally or in relation to a particular applied law); or\n- (ii) another person who may be specified by or under the declaratory provision;\n- (c) a reference to the gazette is a reference to the Queensland Government Gazette;\n- (d) a reference to the Minister is a reference to the Minister administering the declaratory provision;\n- (e) a reference to this jurisdiction is a reference to Queensland.\n- (i) the Minister administering the declaratory provision or the other person (or person belonging to a class of person) who may be specified under a regulation (whether generally or in relation to a particular applied law); or\n- (ii) another person who may be specified by or under the declaratory provision;","sortOrder":19},{"sectionNumber":"sec.18","sectionType":"section","heading":"Conferral of functions on ASIC","content":"### sec.18 Conferral of functions on ASIC\n\nNeither a declaratory provision nor an applied law operates to confer a function on ASIC in relation to the applied law unless—\nthe declaratory provision provides for ASIC to perform that function pursuant to an agreement or arrangement of the kind referred to in section&#160;11 (8) or (9A) (b) of the new ASIC Act ; and\nASIC is authorised to perform that function under section&#160;11 of the new ASIC Act .\nIf a declaratory provision operates to confer a function on ASIC in relation to an applied law, the conferral of that function is taken not to impose a duty to perform that function despite anything to the contrary in the applied law.\n(sec.18-ssec.1) Neither a declaratory provision nor an applied law operates to confer a function on ASIC in relation to the applied law unless— the declaratory provision provides for ASIC to perform that function pursuant to an agreement or arrangement of the kind referred to in section&#160;11 (8) or (9A) (b) of the new ASIC Act ; and ASIC is authorised to perform that function under section&#160;11 of the new ASIC Act .\n(sec.18-ssec.2) If a declaratory provision operates to confer a function on ASIC in relation to an applied law, the conferral of that function is taken not to impose a duty to perform that function despite anything to the contrary in the applied law.\n- (a) the declaratory provision provides for ASIC to perform that function pursuant to an agreement or arrangement of the kind referred to in section&#160;11 (8) or (9A) (b) of the new ASIC Act ; and\n- (b) ASIC is authorised to perform that function under section&#160;11 of the new ASIC Act .","sortOrder":20},{"sectionNumber":"sec.19","sectionType":"section","heading":"Conferral of functions or duties on State courts","content":"### sec.19 Conferral of functions or duties on State courts\n\nAn applied law that confers a function or duty on a court or on the Court is taken to confer that function or duty (along with the jurisdiction to perform that function or duty) on the Supreme Court or another court of the State that may be specified by or under the declaratory provision.","sortOrder":21},{"sectionNumber":"sec.20","sectionType":"section","heading":"Implied application of regulations and other provisions of Corporations&#160;legislation","content":"### sec.20 Implied application of regulations and other provisions of Corporations&#160;legislation\n\nUnless a declaratory provision provides otherwise, the following provisions of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, are also taken to apply to a matter that is the subject of a declaratory provision as if they were laws of the State—\nthe provisions of any regulations made under the applied law;\nany provision of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, that creates an offence in relation to a contravention of the applied law or specifies the penalty for an offence created by a provision of the applied law;\nthe provisions of part&#160;9.4 B of the new Corporations Act for the purposes of any provision of the applied law that is a civil penalty provision within the meaning of that part.\nThe regulations may prescribe changes (whether generally or in relation to a particular applied law) of any of the provisions that are also taken to apply to a matter by force of subsection&#160;(1) for the purposes of that application.\n(sec.20-ssec.1) Unless a declaratory provision provides otherwise, the following provisions of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, are also taken to apply to a matter that is the subject of a declaratory provision as if they were laws of the State— the provisions of any regulations made under the applied law; any provision of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, that creates an offence in relation to a contravention of the applied law or specifies the penalty for an offence created by a provision of the applied law; the provisions of part&#160;9.4 B of the new Corporations Act for the purposes of any provision of the applied law that is a civil penalty provision within the meaning of that part.\n(sec.20-ssec.2) The regulations may prescribe changes (whether generally or in relation to a particular applied law) of any of the provisions that are also taken to apply to a matter by force of subsection&#160;(1) for the purposes of that application.\n- (a) the provisions of any regulations made under the applied law;\n- (b) any provision of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, that creates an offence in relation to a contravention of the applied law or specifies the penalty for an offence created by a provision of the applied law;\n- (c) the provisions of part&#160;9.4 B of the new Corporations Act for the purposes of any provision of the applied law that is a civil penalty provision within the meaning of that part.","sortOrder":22},{"sectionNumber":"sec.21","sectionType":"section","heading":"Proceedings for offences","content":"### sec.21 Proceedings for offences\n\nProceedings for an offence against an applied law may be dealt with as an offence against a law of the State.\nFor the purposes of an offence against an applied law—\nthe amount of a penalty unit specified in relation to that offence by the applied law, or a provision taken by force of section&#160;20 (1) to apply to the matter that is the subject of the declaratory provision, is the amount stated in the Penalties and Sentences Act 1992 , section&#160;5 (1) (b) ; and\nthe laws of the State apply in relation to that offence as if the applied law, or a provision taken by force of section&#160;20 (1) to apply to the matter that is the subject of the declaratory provision, were a law or laws of the State.\nWithout limiting subsection&#160;(2) (b) , the laws of the State referred to in that subsection as applying in relation to an offence include laws with respect to—\nthe investigation and prosecution of offences; and\nthe arrest, custody, bail, trial, finding of guilt and conviction of persons charged with offences; and\nproceedings relating to a matter mentioned in paragraph&#160;(a) or (b) ; and\nthe classification of offences as indictable or summary or indictable offences that may be prosecuted summarily; and\nappeals and reviews relating to criminal proceedings and to proceedings of the kind mentioned in paragraph&#160;(c) ; and\nthe sentencing, punishment and release of persons found guilty or convicted of offences; and\nfines, penalties and forfeitures; and\nconfiscation of the proceeds of crime.\n(sec.21-ssec.1) Proceedings for an offence against an applied law may be dealt with as an offence against a law of the State.\n(sec.21-ssec.2) For the purposes of an offence against an applied law— the amount of a penalty unit specified in relation to that offence by the applied law, or a provision taken by force of section&#160;20 (1) to apply to the matter that is the subject of the declaratory provision, is the amount stated in the Penalties and Sentences Act 1992 , section&#160;5 (1) (b) ; and the laws of the State apply in relation to that offence as if the applied law, or a provision taken by force of section&#160;20 (1) to apply to the matter that is the subject of the declaratory provision, were a law or laws of the State.\n(sec.21-ssec.3) Without limiting subsection&#160;(2) (b) , the laws of the State referred to in that subsection as applying in relation to an offence include laws with respect to— the investigation and prosecution of offences; and the arrest, custody, bail, trial, finding of guilt and conviction of persons charged with offences; and proceedings relating to a matter mentioned in paragraph&#160;(a) or (b) ; and the classification of offences as indictable or summary or indictable offences that may be prosecuted summarily; and appeals and reviews relating to criminal proceedings and to proceedings of the kind mentioned in paragraph&#160;(c) ; and the sentencing, punishment and release of persons found guilty or convicted of offences; and fines, penalties and forfeitures; and confiscation of the proceeds of crime.\n- (a) the amount of a penalty unit specified in relation to that offence by the applied law, or a provision taken by force of section&#160;20 (1) to apply to the matter that is the subject of the declaratory provision, is the amount stated in the Penalties and Sentences Act 1992 , section&#160;5 (1) (b) ; and\n- (b) the laws of the State apply in relation to that offence as if the applied law, or a provision taken by force of section&#160;20 (1) to apply to the matter that is the subject of the declaratory provision, were a law or laws of the State.\n- (a) the investigation and prosecution of offences; and\n- (b) the arrest, custody, bail, trial, finding of guilt and conviction of persons charged with offences; and\n- (c) proceedings relating to a matter mentioned in paragraph&#160;(a) or (b) ; and\n- (d) the classification of offences as indictable or summary or indictable offences that may be prosecuted summarily; and\n- (e) appeals and reviews relating to criminal proceedings and to proceedings of the kind mentioned in paragraph&#160;(c) ; and\n- (f) the sentencing, punishment and release of persons found guilty or convicted of offences; and\n- (g) fines, penalties and forfeitures; and\n- (h) confiscation of the proceeds of crime.","sortOrder":23},{"sectionNumber":"sec.22","sectionType":"section","heading":"Application of Corporations legislation by other means","content":"### sec.22 Application of Corporations legislation by other means\n\nNothing in this part prevents a law of the State from applying any provision of the Corporations legislation, or of an Act, regulations or other instrument forming part of the Corporations legislation, as a law of the State otherwise than by means of a declaratory provision.","sortOrder":24},{"sectionNumber":"pt.4","sectionType":"part","heading":"General","content":"# General","sortOrder":25},{"sectionNumber":"sec.23","sectionType":"section","heading":"Power to amend certain statutory instruments","content":"### sec.23 Power to amend certain statutory instruments\n\nThe Governor in Council may make a regulation amending a statutory instrument made or approved by the Governor in Council in the exercise of a power conferred by any Act.\nThe Minister may recommend the making of a regulation under subsection&#160;(1) only if he or she considers that each amendment proposed to be made by a regulation is consequential on the enactment, or the proposed enactment, by the Parliament of the Commonwealth of—\nthe Australian Securities and Investments Commission Act 1989 ; or\nthe Corporations Act 1989 ; or\nan Act amending an Act referred to in paragraph&#160;(a) or (b) ; or\nthe new ASIC Act ; or\nthe new Corporations Act ; or\nan Act amending an Act referred to in paragraph&#160;(d) or (e) .\nNothing in this section prevents a statutory instrument from being amended otherwise than by a regulation made under this section, including an amendment of a kind mentioned in subsection&#160;(2) .\ns&#160;23 amd 2003 No.&#160;4 s&#160;8 ; 2012 No.&#160;25 s&#160;195 sch\n(sec.23-ssec.1) The Governor in Council may make a regulation amending a statutory instrument made or approved by the Governor in Council in the exercise of a power conferred by any Act.\n(sec.23-ssec.2) The Minister may recommend the making of a regulation under subsection&#160;(1) only if he or she considers that each amendment proposed to be made by a regulation is consequential on the enactment, or the proposed enactment, by the Parliament of the Commonwealth of— the Australian Securities and Investments Commission Act 1989 ; or the Corporations Act 1989 ; or an Act amending an Act referred to in paragraph&#160;(a) or (b) ; or the new ASIC Act ; or the new Corporations Act ; or an Act amending an Act referred to in paragraph&#160;(d) or (e) .\n(sec.23-ssec.4) Nothing in this section prevents a statutory instrument from being amended otherwise than by a regulation made under this section, including an amendment of a kind mentioned in subsection&#160;(2) .\n- (a) the Australian Securities and Investments Commission Act 1989 ; or\n- (b) the Corporations Act 1989 ; or\n- (c) an Act amending an Act referred to in paragraph&#160;(a) or (b) ; or\n- (d) the new ASIC Act ; or\n- (e) the new Corporations Act ; or\n- (f) an Act amending an Act referred to in paragraph&#160;(d) or (e) .","sortOrder":26},{"sectionNumber":"sec.23A","sectionType":"section","heading":"Power to make interim regulations construing certain references&#160;in&#160;Acts","content":"### sec.23A Power to make interim regulations construing certain references&#160;in&#160;Acts\n\nThe Governor in Council may make a regulation providing that an affected reference in any Act is to be construed as set out in the regulation.\nThe Minister may recommend the making of a regulation under subsection&#160;(1) only if he or she considers that—\neach substantive provision of the proposed regulation is necessary as a consequence of the enactment, or proposed enactment, by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act ; and\nsubject to subsection&#160;(3) , the proposed regulation does not deal with any other matter.\nA regulation made under this section may deal with matters of a transitional nature (including matters of an application or savings nature) consequent on the enactment of the amending Act referred to in subsection&#160;(2) (a) .\nSection&#160;27 (7) and (8) enable a provision of the regulation made under this section to have effect from a time that is earlier than the day on which it is made.\nA regulation made under this section has effect according to its tenor.\nA regulation made under this section expires 1 year after it is made.\nIn this section—\naffected reference means—\na reference in an Act to a provision of the new ASIC Act or the new Corporations Act ; or\na reference in an Act to a term, expression or concept defined or used in the new ASIC Act or the new Corporations Act ;\nthat is, or is to be, affected in any way by the enactment or proposed enactment by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act .\ns&#160;23A ins 2003 No.&#160;4 s&#160;9\n(sec.23A-ssec.1) The Governor in Council may make a regulation providing that an affected reference in any Act is to be construed as set out in the regulation.\n(sec.23A-ssec.2) The Minister may recommend the making of a regulation under subsection&#160;(1) only if he or she considers that— each substantive provision of the proposed regulation is necessary as a consequence of the enactment, or proposed enactment, by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act ; and subject to subsection&#160;(3) , the proposed regulation does not deal with any other matter.\n(sec.23A-ssec.3) A regulation made under this section may deal with matters of a transitional nature (including matters of an application or savings nature) consequent on the enactment of the amending Act referred to in subsection&#160;(2) (a) . Section&#160;27 (7) and (8) enable a provision of the regulation made under this section to have effect from a time that is earlier than the day on which it is made.\n(sec.23A-ssec.4) A regulation made under this section has effect according to its tenor.\n(sec.23A-ssec.5) A regulation made under this section expires 1 year after it is made.\n(sec.23A-ssec.6) In this section— affected reference means— a reference in an Act to a provision of the new ASIC Act or the new Corporations Act ; or a reference in an Act to a term, expression or concept defined or used in the new ASIC Act or the new Corporations Act ; that is, or is to be, affected in any way by the enactment or proposed enactment by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act .\n- (a) each substantive provision of the proposed regulation is necessary as a consequence of the enactment, or proposed enactment, by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act ; and\n- (b) subject to subsection&#160;(3) , the proposed regulation does not deal with any other matter.\n- (a) a reference in an Act to a provision of the new ASIC Act or the new Corporations Act ; or\n- (b) a reference in an Act to a term, expression or concept defined or used in the new ASIC Act or the new Corporations Act ;","sortOrder":27},{"sectionNumber":"sec.24","sectionType":"section","heading":"Rules of the Supreme Court","content":"### sec.24 Rules of the Supreme Court\n\nRules of court may be made in accordance with the Supreme Court of Queensland Act 1991 , part&#160;10 —\nwith respect to proceedings, and the practice and procedure, of the Supreme Court under the Corporations legislation; and\nwith respect to any matter or thing that is—\nrequired or permitted by the Corporations legislation to be prescribed by rules within the meaning of the Corporations legislation; or\nnecessary or convenient to be prescribed by those rules for carrying out or giving effect to the Corporations legislation; and\nwithout limitation, with respect to costs, and with respect to rules as to meetings ordered by the Supreme Court.\nWhen a lower court of Queensland is exercising jurisdiction with respect to matters arising under the Corporations legislation, the court must apply the rules of court made under subsection&#160;(1) with the alterations that are necessary.\nIn this section—\nCorporations legislation means—\nthe new Corporations Act ; and\nthe new ASIC Act ; and\nthe regulations made under the new Corporations Act and the new ASIC Act .\ns&#160;24 amd 1991 No.&#160;68 s&#160;122 sch&#160;1C renum as 1991 No.&#160;68 s&#160;96 sch&#160;4 (amd 2011 No.&#160;45 ss&#160;207 , 209 )\n(sec.24-ssec.1) Rules of court may be made in accordance with the Supreme Court of Queensland Act 1991 , part&#160;10 — with respect to proceedings, and the practice and procedure, of the Supreme Court under the Corporations legislation; and with respect to any matter or thing that is— required or permitted by the Corporations legislation to be prescribed by rules within the meaning of the Corporations legislation; or necessary or convenient to be prescribed by those rules for carrying out or giving effect to the Corporations legislation; and without limitation, with respect to costs, and with respect to rules as to meetings ordered by the Supreme Court.\n(sec.24-ssec.2) When a lower court of Queensland is exercising jurisdiction with respect to matters arising under the Corporations legislation, the court must apply the rules of court made under subsection&#160;(1) with the alterations that are necessary.\n(sec.24-ssec.3) In this section— Corporations legislation means— the new Corporations Act ; and the new ASIC Act ; and the regulations made under the new Corporations Act and the new ASIC Act .\n- (a) with respect to proceedings, and the practice and procedure, of the Supreme Court under the Corporations legislation; and\n- (b) with respect to any matter or thing that is— (i) required or permitted by the Corporations legislation to be prescribed by rules within the meaning of the Corporations legislation; or (ii) necessary or convenient to be prescribed by those rules for carrying out or giving effect to the Corporations legislation; and\n- (i) required or permitted by the Corporations legislation to be prescribed by rules within the meaning of the Corporations legislation; or\n- (ii) necessary or convenient to be prescribed by those rules for carrying out or giving effect to the Corporations legislation; and\n- (c) without limitation, with respect to costs, and with respect to rules as to meetings ordered by the Supreme Court.\n- (i) required or permitted by the Corporations legislation to be prescribed by rules within the meaning of the Corporations legislation; or\n- (ii) necessary or convenient to be prescribed by those rules for carrying out or giving effect to the Corporations legislation; and\n- (a) the new Corporations Act ; and\n- (b) the new ASIC Act ; and\n- (c) the regulations made under the new Corporations Act and the new ASIC Act .","sortOrder":28},{"sectionNumber":"sec.25","sectionType":"section","heading":"ASIC has certain functions and powers","content":"### sec.25 ASIC has certain functions and powers\n\nThe Minister, or a person authorised in writing by the Minister, may enter into an agreement or arrangement with ASIC for the performance of functions or the exercise of powers by ASIC as an agent of the State, even if those functions or powers are or may be conferred on another person or body by or under a law of the State.\nAn agreement or arrangement of a kind mentioned in subsection&#160;(1) has effect by force of this section despite any provision of a law of the State with respect to any function or power that is the subject of the agreement or arrangement.\nSection&#160;11 (9) of the Australian Securities and Investments Commission Act 2001 (Cwlth) provides that ASIC has, but is not under a duty to perform, the functions and powers that are the subject of the agreement or arrangement with the State.\n(sec.25-ssec.1) The Minister, or a person authorised in writing by the Minister, may enter into an agreement or arrangement with ASIC for the performance of functions or the exercise of powers by ASIC as an agent of the State, even if those functions or powers are or may be conferred on another person or body by or under a law of the State.\n(sec.25-ssec.2) An agreement or arrangement of a kind mentioned in subsection&#160;(1) has effect by force of this section despite any provision of a law of the State with respect to any function or power that is the subject of the agreement or arrangement. Section&#160;11 (9) of the Australian Securities and Investments Commission Act 2001 (Cwlth) provides that ASIC has, but is not under a duty to perform, the functions and powers that are the subject of the agreement or arrangement with the State.","sortOrder":29},{"sectionNumber":"sec.26","sectionType":"section","heading":"Notes in Act","content":"### sec.26 Notes in Act\n\nA note in the text of this Act is part of the Act .","sortOrder":30},{"sectionNumber":"sec.27","sectionType":"section","heading":"Regulation-making power","content":"### sec.27 Regulation-making power\n\nThe Governor in Council may make regulations under this Act.\ns&#160;27 amd 2003 No.&#160;4 s&#160;10\n(2)–(10) exp 30 June 2003 (see s&#160;28(1))","sortOrder":31},{"sectionNumber":"sec.28","sectionType":"section","heading":"Transitional regulation-making powers","content":"### sec.28 Transitional regulation-making powers\n\nThe following provisions, and any regulations made under the provisions, expire at the end of 30 June 2003—\nsection&#160;5 (6) ;\nsection&#160;9 (3) ;\nsection&#160;12 (2) , (4) and (6) ;\nsection&#160;13 (4) ;\nsection&#160;17 (1) (f) and (2) ;\nsection&#160;27 (2) to (10) .\nSubsection&#160;(1) does not prevent the regulations expiring or being repealed before that time.\nA regulation made under a provision mentioned in subsection&#160;(1) must declare that it is expires at the end of 30 June 2003.\n(sec.28-ssec.1) The following provisions, and any regulations made under the provisions, expire at the end of 30 June 2003— section&#160;5 (6) ; section&#160;9 (3) ; section&#160;12 (2) , (4) and (6) ; section&#160;13 (4) ; section&#160;17 (1) (f) and (2) ; section&#160;27 (2) to (10) .\n(sec.28-ssec.2) Subsection&#160;(1) does not prevent the regulations expiring or being repealed before that time.\n(sec.28-ssec.3) A regulation made under a provision mentioned in subsection&#160;(1) must declare that it is expires at the end of 30 June 2003.\n- (a) section&#160;5 (6) ;\n- (b) section&#160;9 (3) ;\n- (c) section&#160;12 (2) , (4) and (6) ;\n- (d) section&#160;13 (4) ;\n- (e) section&#160;17 (1) (f) and (2) ;\n- (f) section&#160;27 (2) to (10) .","sortOrder":32},{"sectionNumber":"pt.5","sectionType":"part","heading":"Validation provisions consequent on Financial Services Reform Act 2001 (Cwlth)","content":"# Validation provisions consequent on Financial Services Reform Act 2001 (Cwlth)","sortOrder":33},{"sectionNumber":"sec.29","sectionType":"section","heading":"Validation","content":"### sec.29 Validation\n\nAnything done or omitted to be done by a person or body during the relevant period that would have been valid and lawful had the amending Act been in operation at the time at which the thing was done or omitted, must be taken to be, and to have always been, valid and lawful.\nAnything done or omitted to be done by a person or body during the relevant period that would have been valid and lawful had none of the provisions of the Financial Services Reform Act 2001 (Cwlth) been in operation at the time at which the thing was done or omitted, must be taken to be, and to have always been, valid and lawful.\nIn this section—\namending Act means the Financial Services Reform (Consequential Amendments) Act 2003 .\nrelevant period means the period—\nstarting on the commencement of the Financial Services Reform Act 2001 (Cwlth) , schedule&#160;1 , part&#160;1 ; and\nending immediately before the date of assent of the amending Act .\ns&#160;29 prev s&#160;29 om 15 July 2001 RA s&#160;40\npres s&#160;29 ins 2003 No.&#160;4 s&#160;11\n(sec.29-ssec.1) Anything done or omitted to be done by a person or body during the relevant period that would have been valid and lawful had the amending Act been in operation at the time at which the thing was done or omitted, must be taken to be, and to have always been, valid and lawful.\n(sec.29-ssec.2) Anything done or omitted to be done by a person or body during the relevant period that would have been valid and lawful had none of the provisions of the Financial Services Reform Act 2001 (Cwlth) been in operation at the time at which the thing was done or omitted, must be taken to be, and to have always been, valid and lawful.\n(sec.29-ssec.3) In this section— amending Act means the Financial Services Reform (Consequential Amendments) Act 2003 . relevant period means the period— starting on the commencement of the Financial Services Reform Act 2001 (Cwlth) , schedule&#160;1 , part&#160;1 ; and ending immediately before the date of assent of the amending Act .\n- (a) starting on the commencement of the Financial Services Reform Act 2001 (Cwlth) , schedule&#160;1 , part&#160;1 ; and\n- (b) ending immediately before the date of assent of the amending Act .","sortOrder":34}],"analysis":{"issue_detection":{"absurdities":[{"type":"other","section":"sec.1 Short title","severity":"high","reasoning":"The heading of the document purports to be the Body Corporate and Community Management Act 1997, but section 1 unambiguously states the short title is the Corporations (Ancillary Provisions) Act 2001. Every substantive provision in the body of the Act relates to corporations transitional law, not body corporate/strata management. The Act identity is fundamentally wrong at the header level, or alternatively all content below the header belongs to a different Act entirely. This is almost certainly a document assembly error, but as presented it creates an impossible identification problem — the Act cannot simultaneously be both.","confidence":0.97,"description":"The Act is titled 'Body Corporate and Community Management Act 1997' in the header, but section 1 declares its short title to be the 'Corporations (Ancillary Provisions) Act 2001'. These are two entirely different Acts — one is Queensland strata title legislation, the other is corporations transitional law. The short title provision belongs to a completely different piece of legislation."},{"type":"retroactive_impossibility","section":"sec.2 Commencement","severity":"medium","reasoning":"The concept of 'immediately before' a specified legislative commencement has been used in Australian legislation as a legal fiction to establish priority of operation, but it is logically incoherent: if this Act is in force immediately before the Corporations Act commences, it technically has no legal effect until it itself commences, creating a bootstrapping problem. Courts have managed similar provisions through purposive construction, but it remains a logical absurdity. Additionally, the body of s.2 is reproduced verbatim as s.2-ssec.1 and s.2-ssec.2, suggesting structural duplication errors.","confidence":0.75,"description":"Section 2 provides that this Act comes into operation 'immediately before' the Corporations Act 2001 (Cwlth) comes into operation. This is a temporal impossibility: an Act cannot meaningfully come into force at a moment that does not exist in law — there is no legally cognisable instant 'immediately before' the commencement of another Act. Moreover, the same commencement point is stated twice (once in the body text and once in numbered subsections), creating duplicated and potentially inconsistent text."},{"type":"other","section":"sec.28(3)","severity":"low","reasoning":"While this is likely a drafting or typographical error ('it is' should be either omitted or 'it' alone used before 'expires'), the provision as written creates a mandatory obligation ('must declare') to include a statement that is grammatically nonsensical. A regulation cannot strictly comply with an obligation to declare something that cannot be coherently expressed. In a strict textual reading, no regulation could ever satisfy this requirement as written.","confidence":0.92,"description":"Section 28(3) contains a grammatical error that creates a self-referential absurdity: 'A regulation made under a provision mentioned in subsection (1) must declare that it is expires at the end of 30 June 2003.' The phrase 'it is expires' is grammatically incorrect and renders the mandatory declaration requirement incoherent."},{"type":"self_contradicting","section":"sec.29(1) and sec.29(2)","severity":"high","reasoning":"The 'amending Act' (Financial Services Reform (Consequential Amendments) Act 2003) was enacted precisely to deal with the consequences of the Financial Services Reform Act 2001. An action taken during the relevant period might be valid under the FSR Act regime (s.29(2)) but invalid under the Consequential Amendments regime (s.29(1)), or vice versa. Both subsections apply to the same persons, the same period, and declare things 'valid and lawful' under mutually exclusive hypothetical legal frameworks. Where an action falls into neither category, or falls into both with contradictory results, the provision gives no resolution mechanism.","confidence":0.82,"description":"Sections 29(1) and 29(2) simultaneously validate contradictory states of affairs for the same 'relevant period'. Section 29(1) validates anything that would have been lawful IF the amending Act HAD been in operation. Section 29(2) validates anything that would have been lawful if NONE of the Financial Services Reform Act 2001 provisions HAD BEEN in operation. These two conditions are mutually exclusive — the amending Act is itself consequential on the Financial Services Reform Act. An act done during the relevant period that was only valid under one regime but not the other is simultaneously declared both valid and invalid."},{"type":"circular_definition","section":"sec.4 — definition of 'new ASIC legislation' and 'new corporations legislation'","severity":"low","reasoning":"The definition of 'new corporations legislation' includes 'preserved instruments', which are defined as instruments that have effect as if made under the 'new corporations legislation'. Similarly for 'new ASIC legislation'. While this circularity is a common feature of transitional legislative drafting and courts would apply a purposive reading, strictly speaking the definitions are partially self-referential. The circle is: new corporations legislation → includes preserved instruments → preserved instruments defined by reference to new corporations legislation.","confidence":0.72,"description":"Both 'new ASIC legislation' and 'new corporations legislation' include 'the preserved instruments' as a component. 'Preserved instruments' are defined by reference to instruments that 'have effect after the relevant time as if they were made under a provision of the new corporations legislation' or 'new ASIC legislation'. This means each definition partially includes itself: the new legislation includes instruments that have effect as if made under the new legislation, which itself includes those instruments."},{"type":"self_contradicting","section":"sec.8(1) and sec.8 (note within ssec.1)","severity":"medium","reasoning":"The note is declared by section 26 to be 'part of the Act'. Section 8(1) triggers the protective operation of the Acts Interpretation Act 1901 (Cwlth) (Part III), which is designed to preserve accrued rights upon repeal. The embedded note, being part of the Act, then states that the very section invoking those protections also cancels rights and terminates proceedings. Sections 8(2), 8(3) and 8(4) then confirm this cancellation. The provision thus simultaneously invokes a rights-protection mechanism and negates its protective effect, creating internal self-contradiction within the one subsection.","confidence":0.78,"description":"Section 8(1) states the effect of cessation of national scheme laws is as if the Acts Interpretation Act 1901 (Cwlth) applied, which protects accrued rights and allows proceedings to continue. The explanatory note embedded within section 8(1) then immediately acknowledges that 'this section and section 10 have the effect of cancelling certain rights and liabilities and terminating certain legal proceedings' — directly contradicting the protection just invoked."}],"contradictions":[{"severity":"high","section_a":"sec.1 (Short title / Act identity)","section_b":"sec.3 (Purpose)","confidence":0.97,"description":"The document header identifies this as the 'Body Corporate and Community Management Act 1997', but section 1 declares the short title is the 'Corporations (Ancillary Provisions) Act 2001', and section 3 states the purpose is to enact ancillary provisions relating to Commonwealth corporations legislation. The Act cannot simultaneously be a 1997 Queensland strata title Act and a 2001 corporations ancillary provisions Act. Every substantive provision is irreconcilable with the header identity."},{"severity":"medium","section_a":"sec.7(2)","section_b":"sec.10(2)","confidence":0.8,"description":"Section 7(2) provides that national scheme laws 'have no operation of their own force at and after the relevant time' (subject to s.7(1) and s.10). Section 10(2) then provides that a relevant proceeding 'may be continued... as if section 7 had not been enacted.' This means s.10(2) purports to resurrect the operation of national scheme laws for certain proceedings by fictionally treating s.7 as non-existent, while s.7(2) expressly strips those laws of force. The two provisions pull in opposite directions for the category of proceedings caught by s.10."},{"severity":"medium","section_a":"sec.8(3)","section_b":"sec.10(1)(c)","confidence":0.73,"description":"Section 8(3) terminates proceedings that were started before the relevant time AND to which section 1383 of the new Corporations Act or section 267 of the new ASIC Act applies. Section 10(1)(c) defines the scope of section 10 as proceedings to which section 1383 or 1384 of the new Corporations Act or section 267 or 268 of the new ASIC Act does NOT apply. These sections therefore partition the same universe of pre-commencement proceedings. However, section 10(3) then steps back in to terminate orders to which s.1383(5) applies even within s.10 proceedings, creating an overlap where both s.8(3) termination and s.10 continuation could arguably be engaged for the same proceeding depending on which sub-provision of s.1383 applies."},{"severity":"medium","section_a":"sec.18(1)","section_b":"sec.25(1)","confidence":0.68,"description":"Section 18(1) provides that neither a declaratory provision nor an applied law can confer a function on ASIC unless two specific conditions are met (agreement/arrangement under s.11(8) or (9A)(b) of the new ASIC Act, and authorisation under s.11). Section 25(1) separately allows the Minister to enter into an agreement with ASIC for the performance of functions 'even if those functions or powers are or may be conferred on another person or body by or under a law of the State', with s.25(2) stating this has effect 'despite any provision of a law of the State'. If section 18 is a 'provision of a law of the State', then section 25(2) could override section 18(1)'s preconditions, allowing ASIC functions to be conferred without satisfying the s.18(1) requirements — directly contradicting the gatekeeping role of s.18."},{"severity":"high","section_a":"sec.29(1)","section_b":"sec.29(2)","confidence":0.85,"description":"Section 29(1) validates acts done during the relevant period that would have been lawful IF the amending Act (Financial Services Reform (Consequential Amendments) Act 2003) had been in force. Section 29(2) validates acts done during the same relevant period that would have been lawful if NONE of the Financial Services Reform Act 2001 provisions had been in force. Since the amending Act was enacted as a consequence of the FSR Act, these two hypothetical frameworks are mutually exclusive. An act that was only valid under one hypothetical legal regime but not the other is simultaneously declared valid under both regimes, with no mechanism to resolve the conflict where the two validations produce different or contradictory legal consequences."}]},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":false,"description":"No. The Act remains limited to ancillary and transitional implementation of Commonwealth corporations and ASIC legislation for the State: mapping old provisions to new ones, prescribing which Commonwealth provisions operate as State law, handling the fate of pre‑existing rights and proceedings, and enabling agreements with ASIC and rules for enforcement (see secs.3, 5, 8–10, 15–21, 23–25, 28, 29)."},"complexity_factors":["Extensive cross-references between State and Commonwealth instruments and multiple defined ‘old’ and ‘new’ concept sets (see sec.4).","Substantive transitional rules that preserve, substitute or cancel rights and proceedings depending on detailed conditions (secs.7–10, 8).","Rules for deciding when an old provision ‘corresponds’ to a new provision involve substantial-sameness tests and delegated regulation (sec.5).","Declaratory mechanism that applies Commonwealth Corporations legislation as State law subject to specified changes and alterations (secs.15–17).","Limits and conditions on conferring functions to ASIC, and on conferring duties/jurisdiction to State courts (secs.18–19, 25).","Implied application of regulations, civil penalty machinery and State prosecution/sentencing rules to applied laws (secs.20–21).","Regulation-making and time-limited transitional powers with prescribed expiries add procedural complexity (secs.23, 23A, 27, 28).","Validation clause addressing a specific amendment period (Financial Services Reform consequences) introduces retroactive legal effect (sec.29)."],"plain_english_summary":"This Act provides transitional and ancillary measures to implement the Commonwealth Corporations Act 2001 and the new ASIC Act in Queensland. Mechanically it maps ‘old’ State corporations and ASIC provisions to the new Commonwealth regime, preserves or cancels pre‑existing rights and proceedings in specified cases, and lets State laws declare which Commonwealth corporations provisions will operate as State law.\n\nIt affects companies, courts, regulators and persons in existing proceedings, assigns State enforcement (including penalty‑unit treatment), and permits the Minister to contract ASIC to perform State functions."},"kimi_summary":{"content_quality":"ok","complexity_score":8,"scope_assessment":{"changed":false,"description":"The legislation appears to be functioning as originally intended—as a transitional and ancillary mechanism supporting the national corporations scheme. While it contains validation provisions added later (Part 5 regarding the Financial Services Reform Act 2003), these are consistent with the Act's original purpose of managing transitions between corporate regulatory regimes. The core structure remains focused on the 2001 handover from state to federal corporations law."},"complexity_factors":["Extensive cross-referencing to multiple Commonwealth Acts (Corporations Act 2001, ASIC Act 2001, Financial Services Reform Act 2001) and their state predecessors","47+ defined terms in section 4 alone, many with nested sub-definitions (e.g., 'new corporations legislation' has 4 components, 'old corporations legislation' has 3 components)","Complex temporal logic involving 'relevant time' (the moment of transition from old to new laws) with different rules applying before, at, and after this time","Multiple overlapping categories of laws: old corporations legislation, new corporations legislation, old ASIC legislation, new ASIC legislation, national scheme laws, cooperative scheme laws, previous State corporations laws","Conditional application rules with exceptions (e.g., section 12 has 7 categories of excluded references)","Sunset clauses and transitional provisions with specific expiry dates (30 June 2003 for several sections)","Mechanism for 'applying' Commonwealth laws as State laws with modifications (Part 3), requiring tracking of two parallel legal systems","Nested exceptions in section 8 preserving some rights while cancelling others based on Commonwealth Act provisions"],"plain_english_summary":"The Corporations (Ancillary Provisions) Act 2001 manages Queensland’s handover from state-based corporate regulation to the national Corporations Act framework, validating past actions, updating references, and allowing specific state laws to adopt Commonwealth corporate rules where needed. \n\nIt affects Queensland companies, courts, ASIC interactions, and anyone with rights under the old laws by ensuring continuity and clarity during the transition to a national corporate regime."},"summary":{"complexity_score":8,"scope_assessment":{"changed":false,"description":"The Act is internally consistent with its stated purpose in s.3 — to provide ancillary and transitional provisions for Queensland consequent on the Commonwealth's enactment of new corporations and ASIC legislation. The later addition of Part 5 (the validation provision relating to the Financial Services Reform Act 2001) and s.23A (interim regulation-making power) are modest extensions that remain within the same subject-matter domain — managing the interface between Queensland law and evolving Commonwealth corporations legislation. There is no evidence that the Act has grown beyond its original transitional and supporting purpose."},"complexity_factors":["Approximately 30+ defined terms in the definitions section (s.4), many of which are interdependent and layered (e.g. 'new corporations legislation' is defined by reference to 'new Corporations Act', 'new Corporations Regulations', 'preserved instruments', and cross-references to specific provisions of Commonwealth Acts)","Heavy cross-referencing between State and Commonwealth legislation — the Act constantly refers to specific section numbers of the Corporations Act 2001 (Cwlth), the ASIC Act 2001 (Cwlth), the old Corporations Act 1989, and the Corporations (Queensland) Act 1990","Nested conditional logic throughout — particularly in s.8 (multiple 'despite subsection (1)' carve-outs), s.5 (tiered definition of 'corresponds' with multiple sub-exceptions), and s.12 (reference-updating rules with multiple exclusion categories)","Exceptions to exceptions: s.8(1) sets the default rule, then ss.8(2), (3) and (4) each override it with 'despite subsection (1)' carve-outs, some of which themselves incorporate further conditions","Time-sensitive and now-expired provisions: several subsections (e.g. s.5(6), s.9(3), s.12(2)(4)(6), s.17(1)(f)) have already expired as of 30 June 2003, making it difficult to assess the Act's current operative state without tracking amendments","Dual legislative framework: the Act must be read alongside both old State legislation and the new Commonwealth legislation simultaneously, requiring the reader to understand two parallel legal systems and their interaction","Constitutional complexity: s.9 invokes s.109 of the Commonwealth Constitution (the inconsistency rule for conflicting Commonwealth and State laws) as a definitional tool, requiring constitutional law knowledge to interpret","Title mismatch/metadata error: the document header names it the 'Body Corporate and Community Management Act 1997' but the content is the 'Corporations (Ancillary Provisions) Act 2001', creating potential for confusion in interpretation","Validation provision in Part 5 operates retrospectively ('taken to be, and to have always been, valid and lawful'), adding a retroactive legal fiction layer to an already complex scheme"],"plain_english_summary":"**What this law is actually about**\n\nDespite what the title at the top of the document says, this is **not** the Body Corporate and Community Management Act 1997. This is Queensland's **Corporations (Ancillary Provisions) Act 2001** — a transitional and supporting law designed to manage the handover from Queensland's old corporations laws to the new national Commonwealth corporations framework.\n\n---\n\n**The big picture**\n\nIn 2001, Australia replaced a patchwork of State-based corporations laws with a single national system run by the Commonwealth — the *Corporations Act 2001 (Cwlth)* and the *Australian Securities and Investments Commission Act 2001 (Cwlth)*. Queensland needed bridging legislation to make that switch work cleanly. This Act is that bridge.\n\n---\n\n**Who does it affect?**\n\n- **Companies and businesses** previously registered or operating under the old Queensland Corporations Law\n- **Courts** that had active proceedings under the old law at the time of the switchover\n- **ASIC** (the Australian Securities and Investments Commission — the national corporate regulator) and State regulatory agencies\n- **Anyone with rights, duties or liabilities** under the old Queensland corporate law framework\n\n---\n\n**What does it actually do?**\n\n- **Switches off the old law:** The old Queensland Corporations Law and ASIC Law stop operating in their own right once the new Commonwealth law kicks in (called \"the relevant time\"). Only pre-existing matters that aren't covered by the new law are allowed to continue under the old rules.\n\n- **Protects existing rights — but with limits:** Normally, when a law is repealed, your existing rights and legal proceedings survive. This Act mostly follows that principle, but makes important exceptions — some pre-existing rights are cancelled if the new Commonwealth law replaces them with an equivalent right, and some court proceedings are terminated if the new Commonwealth law takes them over.\n\n- **Keeps court cases alive (selectively):** Court proceedings that were underway before the switchover and that the new Commonwealth law *doesn't* absorb can keep going as if the old law still applied.\n\n- **Updates legal cross-references automatically:** Any Queensland law that referred to the old Corporations Law or ASIC Law is automatically read as referring to the new Commonwealth equivalents after the switchover.\n\n- **Allows Commonwealth law to be \"borrowed\" for State purposes:** Part 3 sets up a mechanism where a Queensland law can declare that Commonwealth corporations law applies to a specific State-level matter — effectively letting Queensland \"borrow\" Commonwealth law as if it were a State law. Various adjustments are made automatically when this happens (e.g. references to ASIC become references to the relevant State Minister unless ASIC has been formally engaged).\n\n- **Lets ASIC act as Queensland's agent:** The State Minister can enter into agreements with ASIC to perform functions on Queensland's behalf.\n\n- **Validates past conduct:** A later addition to the Act validates anything done during a gap period around the Financial Services Reform Act 2001 (Cwlth), so no one is penalised for acting reasonably during the legislative transition.\n\n- **Gives the Governor in Council power to make regulations** to update statutory instruments and interpret legislative references as consequential changes flow through from Commonwealth amendments.\n\n---\n\n**Why does it matter?**\n\nThis Act ensured that the transition to the national corporations law system was legally seamless for Queensland. Without it, there would have been gaps, conflicting legal obligations, and uncertainty about which law applied to companies, court cases, and regulatory decisions during and after the switchover."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/body-corporate-and-community-management-act-1997","history":"/api/acts/body-corporate-and-community-management-act-1997/history","analysis":"/api/acts/body-corporate-and-community-management-act-1997/analysis","conflicts":"/api/acts/body-corporate-and-community-management-act-1997/conflicts","importantCases":"/api/acts/body-corporate-and-community-management-act-1997/important-cases","documents":"/api/acts/body-corporate-and-community-management-act-1997/documents"}}