{"id":"nsw:act-1990-083","name":"Corporations (New South Wales) Act 1990","slug":"corporations-new-south-wales-act-1990","collection":"act","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"83 of 1990","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":106544,"registerId":"nsw-act-1990-083-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"# Part 1 Preliminary\n\nPart 1 Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Name of Act and purposes","content":"#### 1 Name of Act and purposes\n\n1 Name of Act and purposes\n\n> > (1) This Act may be cited as the [Corporations (New South Wales) Act 1990](/view/html/inforce/current/act-1990-083).\n> \n> > (2) The purposes of this Act are—\n> > \n> > > (a) to apply certain provisions of the [Corporations Act 1989](http://www.legislation.gov.au/) of the Commonwealth and the [Australian Securities and Investments Commission Act 1989](http://www.legislation.gov.au/) of the Commonwealth and of regulations under those Acts as laws of New South Wales, and\n> > \n> > > (b) to apply certain other laws of the Commonwealth as laws of New South Wales for the purpose of the administration and enforcement of the law relating to corporations, the securities industry, the futures industry and some other matters.","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n2 Commencement\n\n> This Act commences on a day or days to be appointed by proclamation.","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Definitions","content":"#### 3 Definitions\n\n3 Definitions\n\n> > (1) In this Act—\n> > \n> > applicable provision, in relation to a jurisdiction, means a provision of—\n> > \n> > > (a) the [Corporations Law](/view/html/inforce/current/sl-1999-0703), or Corporations Regulations, of that jurisdiction, or\n> > \n> > > (b) the ASIC Law, or ASIC Regulations, of that jurisdiction, or\n> > \n> > > (c) in the case of the Capital Territory—a Commonwealth law as applying, of its own force or because of another Commonwealth law, in relation to—\n> > > \n> > > > (i) an offence against, or\n> > > \n> > > > (ii) an act, matter or thing arising under or in respect of,\n> > > \n> > > a provision that, because of any other application or applications of this definition, is an applicable provision of the Capital Territory or any other jurisdiction, or\n> > \n> > > (d) in the case of a jurisdiction other than the Capital Territory—a Commonwealth law as applying, because of a law of that jurisdiction, in relation to—\n> > > \n> > > > (i) an offence against, or\n> > > \n> > > > (ii) an act, matter or thing arising under or in respect of,\n> > > \n> > > a provision that, because of any other application or applications of this definition, is an applicable provision of that or any other jurisdiction.\n> > \n> > ASIC Act means the [Australian Securities and Investments Commission Act 1989](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > ASIC Law has the meaning given by Part 11.\n> > \n> > ASIC Law of New South Wales means the provisions applying by reason of section 58.\n> > \n> > ASIC Regulations has the meaning given by Part 11.\n> > \n> > ASIC Regulations of New South Wales means the provisions applying by reason of section 59.\n> > \n> > authority, in relation to the Commonwealth, has the same meaning as in Part 8 of the Corporations Act.\n> > \n> > Capital Territory means the Australian Capital Territory and the Jervis Bay Territory.\n> > \n> > Commission means the Australian Securities and Investments Commission established by the ASIC Act.\n> > \n> > Commonwealth administrative laws means the following—\n> > \n> > > (a) the [Administrative Review Tribunal Act 2024](http://www.legislation.gov.au/) of the Commonwealth, excluding Part 7,\n> > \n> > > (b) (Repealed)\n> > \n> > > (c) the [Freedom of Information Act 1982](http://www.legislation.gov.au/) of the Commonwealth,\n> > \n> > > (d) the [Ombudsman Act 1976](http://www.legislation.gov.au/) of the Commonwealth,\n> > \n> > > (e) the [Privacy Act 1988](http://www.legislation.gov.au/) of the Commonwealth,\n> > \n> > and the provisions of the regulations in force for the time being under those Acts.\n> > \n> > Commonwealth law means any of the written or unwritten laws of the Commonwealth, including laws about the exercise of prerogative powers, rights and privileges, other than the Corporations Law of the Capital Territory, the ASIC Law of the Capital Territory or provisions prescribed, for the purposes of the definition of Commonwealth law in section 4 of the Corporations Act, by regulations under section 73 of the Corporations Act.\n> > \n> > Commonwealth Minister has the meaning given to the Minister by section 80A (2) of the [Corporations Law](/view/html/inforce/current/sl-1999-0703).\n> > \n> > co-operative scheme law has the meaning given by section 84.\n> > \n> > Corporations Act means the [Corporations Act 1989](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > Corporations Law has the meaning given by Part 3.\n> > \n> > Corporations Law of New South Wales means the provisions applying by reason of section 7.\n> > \n> > Corporations Regulations has the meaning given by Part 3.\n> > \n> > Corporations Regulations of New South Wales means the provisions applying by reason of section 8.\n> > \n> > corresponding law means—\n> > \n> > > (a) an Act of a jurisdiction (other than New South Wales) that corresponds to this Act, or\n> > \n> > > (b) regulations made under such an Act, or\n> > \n> > > (c) the [Corporations Law](/view/html/inforce/current/sl-1999-0703), Corporations Regulations, ASIC Law, or ASIC Regulations, or any other applicable provision, of such a jurisdiction, or\n> > \n> > > (d) rules of court made because of such an Act.\n> > \n> > Federal Court means the Federal Court of Australia.\n> > \n> > Full Court, in relation to a Supreme Court of a State or Territory, includes any court of the State or Territory to which appeals lie from a single judge of that Supreme Court.\n> > \n> > jurisdiction means a State or the Capital Territory.\n> > \n> > law in relation to the Capital Territory, means a law of or in force in the Capital Territory.\n> > \n> > Minister for this jurisdiction means the Minister.\n> > \n> > modifications includes additions, omissions and substitutions.\n> > \n> > national scheme law has the meaning given by section 60.\n> > \n> > national scheme law of this jurisdiction means—\n> > \n> > > (a) this Act, or\n> > \n> > > (b) the Corporations Law of New South Wales, or\n> > \n> > > (c) the ASIC Law of New South Wales.\n> > \n> > NCSC means the National Companies and Securities Commission.\n> > \n> > officer, in relation to the Commonwealth, has the same meaning as in Part 8 of the Corporations Act.\n> > \n> > State includes the Northern Territory.\n> > \n> > State Family Court, in relation to a State, means a court of that State to which section 41 of the [Family Law Act 1975](http://www.legislation.gov.au/) of the Commonwealth applies because of a Proclamation made under section 41 (2) of that Act.\n> > \n> > Territory does not include the Northern Territory.\n> > \n> > this jurisdiction means New South Wales.\n> \n> > (2) In this Act, a reference to a Commonwealth Act includes a reference to—\n> > \n> > > (a) that Commonwealth Act as amended and in force for the time being, and\n> > \n> > > (b) an Act passed in substitution for that Act.\n> \n> **s 3:** Am 1991, Sch 1 (1); 2000 No 80, Sch 1.4 \\[1\\]–\\[3\\]; 2025 No 38, Sch 1.5\\[1\\].","sortOrder":3},{"sectionNumber":"4","sectionType":"section","heading":"Australian Capital Territory","content":"#### 4 Australian Capital Territory\n\n4 Australian Capital Territory\n\n> For the purposes of the national scheme laws of this jurisdiction, the Jervis Bay Territory is taken to be part of the Australian Capital Territory.","sortOrder":4},{"sectionNumber":"5","sectionType":"section","heading":"This Act and applicable provisions of New South Wales not to be affected by later State laws","content":"#### 5 This Act and applicable provisions of New South Wales not to be affected by later State laws\n\n5 This Act and applicable provisions of New South Wales not to be affected by later State laws\n\n> > (1) An Act enacted, or an instrument made under an Act, after the commencement of this section is not to be interpreted as amending or repealing, or otherwise altering the effect or operation of, this Act or the applicable provisions of New South Wales.\n> \n> > (2) Subsection (1) does not affect the interpretation of an Act, or of an instrument made under an Act, so far as that Act provides expressly for that Act or instrument, as the case may be, to have effect despite a specified provision, or despite any provision, of this Act or the applicable provisions of New South Wales.","sortOrder":5},{"sectionNumber":"6","sectionType":"section","heading":"Operation of other New South Wales laws","content":"#### 6 Operation of other New South Wales laws\n\n6 Operation of other New South Wales laws\n\n> Except as otherwise provided in this Act, nothing in this Act or the applicable provisions of New South Wales affects the operation after the commencement of this section of an Act enacted before that commencement or of an instrument made under such an Act.","sortOrder":6},{"sectionNumber":"Part 2","sectionType":"part","heading":"The Corporations Law, and the Corporations Regulations, of New South Wales","content":"# Part 2 The Corporations Law, and the Corporations Regulations, of New South Wales\n\nPart 2 The [Corporations Law](/view/html/inforce/current/sl-1999-0703), and the Corporations Regulations, of New South Wales","sortOrder":7},{"sectionNumber":"7","sectionType":"section","heading":"Application in New South Wales of the Corporations Law","content":"#### 7 Application in New South Wales of the Corporations Law\n\n7 Application in New South Wales of the [Corporations Law](/view/html/inforce/current/sl-1999-0703)\n\n> The Corporations Law set out in section 82 of the Corporations Act as in force immediately before the repeal of that section—\n> \n> > (a) applies as a law of New South Wales, and\n> \n> > (b) as so applying, may be referred to as the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of New South Wales.\n> \n> **s 7:** Am 2001 No 32, Sch 2.2 \\[1\\].","sortOrder":8},{"sectionNumber":"8","sectionType":"section","heading":"Application of regulations","content":"#### 8 Application of regulations\n\n8 Application of regulations\n\n> > (1) The regulations in force, immediately before the repeal of the Corporations Act, under section 22 of that Act—\n> > \n> > > (a) apply as regulations in force for the purposes of the Corporations Law of New South Wales, and\n> > \n> > > (b) as so applying, may be referred to as the Corporations Regulations of New South Wales.\n> \n> > (2) Subject to subsection (3) of this section, where regulations under section 22 of the Corporations Act take effect from a specified day that is earlier than the day when they are notified in the Commonwealth of Australia Gazette under section 48 (1) of the [Acts Interpretation Act 1901](http://www.legislation.gov.au/) of the Commonwealth, subsection (1) of this section has effect, and is taken always to have had effect, as if those regulations had taken effect under the Corporations Act from the specified day.\n> \n> > (3) To the extent that a provision of the Corporations Regulations of New South Wales is taken because of a particular application of subsection (2) to have effect, or to have had effect, before the day of notification of the regulations referred to in that subsection, the provision does not operate so as to—\n> > \n> > > (a) affect a private person’s rights as at that day so as to disadvantage that person, or\n> > \n> > > (b) impose a liability on a private person in respect of anything done or omitted to be done before that day.\n> \n> > (4) In subsection (3)—\n> > \n> > private person means a person other than—\n> > \n> > > (a) the Commonwealth, a State or the Capital Territory, or\n> > \n> > > (b) an authority of the Commonwealth, of a State or of the Capital Territory.\n> \n> > (5) Subsection (3) does not affect any other operation that the provision has because of subsection (2) or otherwise.\n> \n> **s 8:** Am 2001 No 32, Sch 2.2 \\[2\\] \\[3\\].","sortOrder":9},{"sectionNumber":"9","sectionType":"section","heading":"Interpretation of some expressions in the Corporations Law, and the Corporations Regulations, of New South Wales","content":"#### 9 Interpretation of some expressions in the Corporations Law, and the Corporations Regulations, of New South Wales\n\n9 Interpretation of some expressions in the [Corporations Law](/view/html/inforce/current/sl-1999-0703), and the Corporations Regulations, of New South Wales\n\n> In the [Corporations Law](/view/html/inforce/current/sl-1999-0703), and the Corporations Regulations, of New South Wales—\n> \n> the Minister for this jurisdiction means the Minister.\n> \n> this jurisdiction means New South Wales.","sortOrder":10},{"sectionNumber":"10","sectionType":"section","heading":"Interpretation law","content":"#### 10 Interpretation law\n\n10 Interpretation law\n\n> > (1) Subject to Part 1.2 of the Corporations Law of New South Wales, the [Acts Interpretation Act 1901](http://www.legislation.gov.au/) of the Commonwealth as in force at the commencement of section 8 of the Corporations Act, applies as a law of New South Wales in relation to the [Corporations Law](/view/html/inforce/current/sl-1999-0703), and the Corporations Regulations, of New South Wales and any instrument made, granted or issued under that Law or those Regulations (other than application orders under section 111A of that Law) and so applies as if that Law were an Act of the Commonwealth and those Regulations or instruments were regulations or instruments made under such an Act.\n> \n> > (2) The [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) does not apply in relation to the [Corporations Law](/view/html/inforce/current/sl-1999-0703), or the Corporations Regulations, of New South Wales or an application order or any other instrument made, granted or issued under that Law or those Regulations.","sortOrder":11},{"sectionNumber":"Part 3","sectionType":"part","heading":"Citing the Corporations Law and the Corporations Regulations","content":"# Part 3 Citing the Corporations Law and the Corporations Regulations\n\nPart 3 Citing the [Corporations Law](/view/html/inforce/current/sl-1999-0703) and the Corporations Regulations","sortOrder":12},{"sectionNumber":"11","sectionType":"section","heading":"Simpler citation of Corporations Law, and Corporations Regulations, of New South Wales","content":"#### 11 Simpler citation of Corporations Law, and Corporations Regulations, of New South Wales\n\n11 Simpler citation of [Corporations Law](/view/html/inforce/current/sl-1999-0703), and Corporations Regulations, of New South Wales\n\n> > (1) The Corporations Law of New South Wales may be referred to simply as the [Corporations Law](/view/html/inforce/current/sl-1999-0703).\n> \n> > (2) The Corporations Regulations of New South Wales may be referred to simply as the Corporations Regulations.\n> \n> > (3) This section has effect subject to section 13.","sortOrder":13},{"sectionNumber":"12","sectionType":"section","heading":"References to Corporations Law, and Corporations Regulations, of other jurisdictions","content":"#### 12 References to Corporations Law, and Corporations Regulations, of other jurisdictions\n\n12 References to [Corporations Law](/view/html/inforce/current/sl-1999-0703), and Corporations Regulations, of other jurisdictions\n\n> > (1) This section has effect for the purposes of an Act, a law of New South Wales or an instrument made under an Act or under such a law.\n> \n> > (2) Where a law of a jurisdiction other than New South Wales that corresponds to section 7 of this Act provides that the [Corporations Law](/view/html/inforce/current/sl-1999-0703) set out in section 82 of the Corporations Act applies as law of that jurisdiction, the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of that jurisdiction is the [Corporations Law](/view/html/inforce/current/sl-1999-0703) so set out, applying as law of that jurisdiction.\n> \n> > (3) Where a law of a jurisdiction other than New South Wales that corresponds to section 8 of this Act provides that the regulations under section 22 of the Corporations Act apply for the purposes of the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of that jurisdiction, the Corporations Regulations of that jurisdiction are those regulations as so applying.\n> \n> **s 12:** Am 2001 No 32, Sch 2.2 \\[4\\] \\[5\\].","sortOrder":14},{"sectionNumber":"13","sectionType":"section","heading":"References to Corporations Law and Corporations Regulations","content":"#### 13 References to Corporations Law and Corporations Regulations\n\n13 References to [Corporations Law](/view/html/inforce/current/sl-1999-0703) and Corporations Regulations\n\n> > (1) The object of this section is to help ensure that the Corporations Law of New South Wales operates, so far as possible, as if that Law, together with the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of each jurisdiction other than New South Wales, constituted a single national [Corporations Law](/view/html/inforce/current/sl-1999-0703) applying of its own force throughout Australia.\n> \n> > (2) Subject to this section, a reference in an instrument to the [Corporations Law](/view/html/inforce/current/sl-1999-0703), or to the Corporations Regulations, is to be taken, for the purposes of the laws of New South Wales—\n> > \n> > > (a) to be a reference to the [Corporations Law](/view/html/inforce/current/sl-1999-0703), or to the Corporations Regulations, of New South Wales, and\n> > \n> > > (b) to include a separate reference to the [Corporations Law](/view/html/inforce/current/sl-1999-0703), or to the Corporations Regulations, of each jurisdiction other than New South Wales.\n> \n> > (3) Subsection (2) has effect except so far as the contrary intention appears in the instrument, or the context of the reference otherwise requires.\n> \n> > (4) Without limiting subsection (3), subsection (2) does not apply in relation to a reference expressed as a reference to the [Corporations Law](/view/html/inforce/current/sl-1999-0703), or to the Corporations Regulations, of a jurisdiction.\n> \n> > (5) In this section—\n> > \n> > instrument means—\n> > \n> > > (a) an Act or an instrument made under an Act, or\n> > \n> > > (b) a law of New South Wales or an instrument made under such a law, or\n> > \n> > > (c) an award or other industrial determination or order, or an industrial agreement, or\n> > \n> > > (d) any other order (whether executive, judicial or otherwise), or\n> > \n> > > (e) a notice, certificate or licence, or\n> > \n> > > (f) an agreement, or\n> > \n> > > (g) an application made, information laid, affidavit sworn, or warrant issued, for any purpose, or\n> > \n> > > (h) an indictment, presentment, summons or writ, or\n> > \n> > > (i) any other pleading in, or process issued in connection with, a legal or other proceeding, or\n> > \n> > > (j) any other document whatever.","sortOrder":15},{"sectionNumber":"Part 4","sectionType":"part","heading":"Application of the Corporations Law to the Crown","content":"# Part 4 Application of the Corporations Law to the Crown\n\nPart 4 Application of the [Corporations Law](/view/html/inforce/current/sl-1999-0703) to the Crown","sortOrder":16},{"sectionNumber":"14","sectionType":"section","heading":"Interpretation","content":"#### 14 Interpretation\n\n14 Interpretation\n\n> To avoid doubt, a reference in this Part to the Crown in a particular right includes a reference to an instrumentality or agency (whether a body corporate or not) of the Crown in that right.","sortOrder":17},{"sectionNumber":"15","sectionType":"section","heading":"Corporations Law of New South Wales","content":"#### 15 Corporations Law of New South Wales\n\n15 Corporations Law of New South Wales\n\n> > (1) Chapter 5 (except Part 5.8) of the Corporations Law of New South Wales binds the Crown not only in right of the State of New South Wales but also, so far as the legislative power of the Parliament permits, the Crown in right of the Commonwealth, of each of the other States, of the Capital Territory, of the Northern Territory and of Norfolk Island.\n> \n> > (1A) Chapters 6, 6A, 6B, 6C and 6D of the Corporations Law of New South Wales—\n> > \n> > > (a) bind the Crown in right of the Commonwealth so far as the legislative power of the Parliament permits, but\n> > \n> > > (b) do not bind the Crown in right of the State of New South Wales, of any other State, of the Capital Territory, of the Northern Territory or of Norfolk Island.\n> \n> > (2) To avoid doubt, Chapter 7 of the Corporations Law of New South Wales does not bind the Crown in right of the State of New South Wales, of the Commonwealth, of any other State, of the Capital Territory, of the Northern Territory or of Norfolk Island.\n> \n> **s 15:** Am 2000 No 80, Sch 1.4 \\[4\\].","sortOrder":18},{"sectionNumber":"16","sectionType":"section","heading":"Corporations Law of other jurisdictions","content":"#### 16 Corporations Law of other jurisdictions\n\n16 [Corporations Law](/view/html/inforce/current/sl-1999-0703) of other jurisdictions\n\n> Chapter 5 (except Part 5.8) of the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of each jurisdiction other than New South Wales binds the Crown in right of the State of New South Wales.","sortOrder":19},{"sectionNumber":"17","sectionType":"section","heading":"Crown not liable to prosecution","content":"#### 17 Crown not liable to prosecution\n\n17 Crown not liable to prosecution\n\n> Nothing in this Part, or in the [Corporations Law](/view/html/inforce/current/sl-1999-0703), renders the Crown in any right liable to be prosecuted for an offence.","sortOrder":20},{"sectionNumber":"18","sectionType":"section","heading":"This Part overrides the prerogative","content":"#### 18 This Part overrides the prerogative\n\n18 This Part overrides the prerogative\n\n> Where, because of this Part, a provision of a law of another jurisdiction binds the Crown in right of the State of New South Wales, the Crown in that right is subject to that provision despite any prerogative right or privilege.","sortOrder":21},{"sectionNumber":"Part 5","sectionType":"part","heading":"Application orders","content":"# Part 5 Application orders\n\nPart 5 Application orders","sortOrder":22},{"sectionNumber":"19","sectionType":"section","heading":"Commonwealth Minister to obtain consent of State Minister","content":"#### 19 Commonwealth Minister to obtain consent of State Minister\n\n19 Commonwealth Minister to obtain consent of State Minister\n\n> Despite Part 1.3 of the Corporations Law of New South Wales and section 20 of this Act, the Commonwealth Minister may only make an order under section 111A of that Law, or that section as applying because of section 20 of this Act, with the consent of the Minister for this jurisdiction.","sortOrder":23},{"sectionNumber":"20","sectionType":"section","heading":"Application orders for ASIC Law","content":"#### 20 Application orders for ASIC Law\n\n20 Application orders for ASIC Law\n\n> Part 1.3 of the Corporations Law of New South Wales applies for the purposes of the ASIC Law of New South Wales as if the provisions of the ASIC Law of New South Wales were provisions of the Corporations Law of New South Wales.","sortOrder":24},{"sectionNumber":"Part 6","sectionType":"part","heading":null,"content":"# Part 6\n\nPart 6\n\n21 (Repealed)\n\n**pt 6 (s 21):** Rep 1999 No 1, Sch 1 \\[3\\].","sortOrder":25},{"sectionNumber":"Part 7","sectionType":"part","heading":"Imposition of fees and taxes","content":"# Part 7 Imposition of fees and taxes\n\nPart 7 Imposition of fees and taxes","sortOrder":26},{"sectionNumber":"22","sectionType":"section","heading":"Fees (including taxes) for chargeable matters","content":"#### 22 Fees (including taxes) for chargeable matters\n\n22 Fees (including taxes) for chargeable matters\n\n> This section imposes the fees (including fees that are taxes) that the Corporations Regulations of New South Wales prescribe.","sortOrder":27},{"sectionNumber":"23","sectionType":"section","heading":"Contributions and levies for fidelity funds of securities exchanges","content":"#### 23 Contributions and levies for fidelity funds of securities exchanges\n\n23 Contributions and levies for fidelity funds of securities exchanges\n\n> > (1) This section imposes—\n> > \n> > > (a) the contribution payable under section 902 (1) of the Corporations Law of New South Wales by a person who wishes to be admitted to membership of a securities exchange, or to a partnership in a member firm recognised by a securities exchange, and\n> > \n> > > (b) the annual contribution payable under section 902 (2) of that Law by a member of a securities exchange, and\n> > \n> > > (c) any levy payable under section 904 of that Law by a member of a securities exchange.\n> \n> > (2) An expression has in subsection (1) the meaning it would have if this section were in Part 7.9 of the Corporations Law of New South Wales.","sortOrder":28},{"sectionNumber":"24","sectionType":"section","heading":"Levies for National Guarantee Fund","content":"#### 24 Levies for National Guarantee Fund\n\n24 Levies for National Guarantee Fund\n\n> This section imposes any levy that is payable under section 938, 940 or 941 of the Corporations Law of New South Wales.","sortOrder":29},{"sectionNumber":"25","sectionType":"section","heading":"Contributions and levies for fidelity funds of futures organisations","content":"#### 25 Contributions and levies for fidelity funds of futures organisations\n\n25 Contributions and levies for fidelity funds of futures organisations\n\n> > (1) This section imposes—\n> > \n> > > (a) the contribution payable under section 1234 (1) of the Corporations Law of New South Wales by a person who wishes to be admitted to membership of a futures organisation, and\n> > \n> > > (b) the annual contribution payable under section 1234 (2) of that Law by a contributing member of a futures organisation, and\n> > \n> > > (c) any levy payable under section 1235 of that Law by a contributing member of a futures organisation.\n> \n> > (2) An expression has in subsection (1) the meaning it would have if this section were in Part 8.6 of the Corporations Law of New South Wales.","sortOrder":30},{"sectionNumber":"Part 8","sectionType":"part","heading":"National administration and enforcement of the Corporations Law","content":"# Part 8 National administration and enforcement of the Corporations Law\n\nPart 8 National administration and enforcement of the [Corporations Law](/view/html/inforce/current/sl-1999-0703)","sortOrder":31},{"sectionNumber":"Division 1","sectionType":"division","heading":"Preliminary","content":"## Division 1 Preliminary\n\nDivision 1 Preliminary","sortOrder":32},{"sectionNumber":"26","sectionType":"section","heading":"Object","content":"#### 26 Object\n\n26 Object\n\n> The object of this Part is to help ensure that—\n> \n> > (a) the Corporations Law of New South Wales, and the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of each jurisdiction other than New South Wales, are administered and enforced on a national basis, in the same way as if those Laws constituted a single law of the Commonwealth, and\n> \n> > (b) the ASIC Law of New South Wales, and the ASIC Law of each jurisdiction other than New South Wales, are administered and enforced on a national basis, in the same way as if those Laws constituted a single law of the Commonwealth.","sortOrder":33},{"sectionNumber":"27","sectionType":"section","heading":"Effect of Part","content":"#### 27 Effect of Part\n\n27 Effect of Part\n\n> > (1) This Part has effect subject to this Act (in particular Part 9), the Corporations Law of New South Wales and the ASIC Law of New South Wales.\n> \n> > (2) Nothing in this Part limits the generality of anything else in it.","sortOrder":34},{"sectionNumber":"Division 2","sectionType":"division","heading":"Offences against applicable provisions","content":"## Division 2 Offences against applicable provisions\n\nDivision 2 Offences against applicable provisions","sortOrder":35},{"sectionNumber":"28","sectionType":"section","heading":"Object","content":"#### 28 Object\n\n28 Object\n\n> > (1) The object of this Division is to further the object of this Part by providing—\n> > \n> > > (a) for an offence against an applicable provision of New South Wales to be treated as if it were an offence against a law of the Commonwealth, and\n> > \n> > > (b) for an offence against an applicable provision of another jurisdiction to be treated in New South Wales as if it were an offence against a law of the Commonwealth.\n> \n> > (2) The purposes for which an offence is to be treated as mentioned in subsection (1) include, for example (but without limitation)—\n> > \n> > > (a) the investigation and prosecution of offences, and\n> > \n> > > (b) the arrest, custody, bail, trial and conviction of offenders or persons charged with offences, and\n> > \n> > > (c) proceedings relating to a matter referred to in paragraph (a) or (b), and\n> > \n> > > (d) appeals and review relating to criminal proceedings and to proceedings of the kind referred to in paragraph (c), and\n> > \n> > > (e) the sentencing, punishment and release of persons convicted of offences, and\n> > \n> > > (f) fines, penalties and forfeitures, and\n> > \n> > > (g) liability to make reparation in connection with offences, and\n> > \n> > > (h) proceeds of crime, and\n> > \n> > > (i) spent convictions.","sortOrder":36},{"sectionNumber":"29","sectionType":"section","heading":"Application of Commonwealth laws in relation to offences against applicable provisions","content":"#### 29 Application of Commonwealth laws in relation to offences against applicable provisions\n\n29 Application of Commonwealth laws in relation to offences against applicable provisions\n\n> > (1) The Commonwealth laws apply as laws of New South Wales in relation to an offence against the applicable provisions of New South Wales as if those provisions were laws of the Commonwealth and were not laws of New South Wales.\n> \n> > (2) For the purposes of a law of New South Wales, an offence against the applicable provisions of New South Wales—\n> > \n> > > (a) is taken to be an offence against the laws of the Commonwealth, in the same way as if those provisions were laws of the Commonwealth, and\n> > \n> > > (b) is taken not to be an offence against the laws of New South Wales.\n> \n> > (3) Subsection (2) has effect for the purposes of a law of New South Wales except as prescribed by regulations under section 80.","sortOrder":37},{"sectionNumber":"30","sectionType":"section","heading":"Application of Commonwealth laws in relation to offences against applicable provisions of other jurisdictions","content":"#### 30 Application of Commonwealth laws in relation to offences against applicable provisions of other jurisdictions\n\n30 Application of Commonwealth laws in relation to offences against applicable provisions of other jurisdictions\n\n> > (1) The Commonwealth laws apply as laws of New South Wales in relation to an offence against the applicable provisions of another jurisdiction as if those provisions were laws of the Commonwealth and were not laws of that other jurisdiction.\n> \n> > (2) For the purposes of a law of New South Wales, an offence against the applicable provisions of another jurisdiction—\n> > \n> > > (a) is taken to be an offence against the laws of the Commonwealth, in the same way as if those provisions were laws of the Commonwealth, and\n> > \n> > > (b) is taken not to be an offence against the laws of that jurisdiction.\n> \n> > (3) Subsection (2) has effect for the purposes of a law of New South Wales except as prescribed by regulations under section 80.\n> \n> > (4) This section does not require, prohibit, empower, authorise or otherwise provide for, the doing of an act outside New South Wales.\n> \n> **s 30:** Am 1991 No 52, Sch 1 (2).","sortOrder":38},{"sectionNumber":"31","sectionType":"section","heading":"Functions and powers conferred on Commonwealth authorities","content":"#### 31 Functions and powers conferred on Commonwealth authorities\n\n31 Functions and powers conferred on Commonwealth authorities\n\n> > (1) A Commonwealth law applying because of section 29 that confers on an officer or authority of the Commonwealth a function or power in relation to an offence against the applicable provisions of the Capital Territory also confers on the officer or authority the same function or power in relation to an offence against the corresponding applicable provision of New South Wales.\n> \n> > (2) A Commonwealth law applying because of section 30 that confers on an officer or authority of the Commonwealth a function or power in relation to an offence against an applicable provision of the Capital Territory also confers on the officer or authority the same function or power in relation to an offence against the corresponding applicable provision of another jurisdiction.\n> \n> > (3) The function or power referred to in subsection (2) may only be performed or exercised in New South Wales.\n> \n> > (4) In performing a function or exercising a power conferred by subsection (1) or (2), an officer or authority of the Commonwealth must act as nearly as practicable as the officer or authority would act in performing or exercising the same function or power in relation to an offence against the corresponding applicable provision of the Capital Territory.\n> \n> > (5) A Commonwealth law applying because of section 29 or 30 applies as if it did not contain any provision empowering a Minister of State for the Commonwealth to give any directions in relation to the performance of a function or the exercise of a power conferred by subsection (1) or (2).\n> \n> **s 31:** Am 2001 No 32, Sch 2.2 \\[6\\].","sortOrder":39},{"sectionNumber":"32","sectionType":"section","heading":"Reference in Commonwealth law to a provision of another law","content":"#### 32 Reference in Commonwealth law to a provision of another law\n\n32 Reference in Commonwealth law to a provision of another law\n\n> A reference in a Commonwealth law to a provision of that or another Commonwealth law is taken, for the purposes of section 29 or 30, to be a reference to that provision as applying because of that section.","sortOrder":40},{"sectionNumber":"33","sectionType":"section","heading":null,"content":"#### 33\n\n33 (Repealed)","sortOrder":41},{"sectionNumber":"Division 3","sectionType":"division","heading":"Administrative law","content":"## Division 3 Administrative law\n\nDivision 3 Administrative law","sortOrder":43},{"sectionNumber":"34","sectionType":"section","heading":"Object","content":"#### 34 Object\n\n34 Object\n\n> The object of this Division is to further the object of this Part by providing that the Commonwealth administrative laws—\n> \n> > (a) apply to the applicable provisions of New South Wales, and\n> \n> > (b) apply, in New South Wales, to the applicable provisions of another jurisdiction,\n> \n> as if the applicable provisions were those of the Capital Territory.","sortOrder":44},{"sectionNumber":"35","sectionType":"section","heading":"Application of Commonwealth administrative laws in relation to applicable provisions","content":"#### 35 Application of Commonwealth administrative laws in relation to applicable provisions\n\n35 Application of Commonwealth administrative laws in relation to applicable provisions\n\n> > (1) The Commonwealth administrative laws apply as laws of New South Wales in relation to any act, matter or thing arising under or in respect of the applicable provisions of New South Wales as if those provisions were laws of the Commonwealth and were not laws of New South Wales.\n> \n> > (2) For the purposes of a law of New South Wales, an act, matter or thing arising under or in respect of the applicable provisions of New South Wales—\n> > \n> > > (a) is taken to be an act, matter or thing arising under or in respect of the laws of the Commonwealth, in the same way as if those provisions were laws of the Commonwealth, and\n> > \n> > > (b) is taken not to be an act, matter or thing arising under or in respect of the laws of New South Wales.\n> \n> > (3) Subsection (2) has effect for the purposes of a law of New South Wales except as prescribed by regulations under section 80.","sortOrder":45},{"sectionNumber":"36","sectionType":"section","heading":"Application of Commonwealth administrative laws in relation to applicable provisions of other jurisdictions","content":"#### 36 Application of Commonwealth administrative laws in relation to applicable provisions of other jurisdictions\n\n36 Application of Commonwealth administrative laws in relation to applicable provisions of other jurisdictions\n\n> > (1) The Commonwealth administrative laws apply as laws of New South Wales in relation to any act, matter or thing arising under or in respect of the applicable provisions of another jurisdiction as if those provisions were laws of the Commonwealth and were not laws of that jurisdiction.\n> \n> > (2) For the purposes of a law of New South Wales, an act, matter or thing arising under or in respect of the applicable provisions of another jurisdiction—\n> > \n> > > (a) is taken to be an act, matter or thing arising under or in respect of the laws of the Commonwealth, in the same way as if those provisions were laws of the Commonwealth, and\n> > \n> > > (b) is taken not to be an act, matter or thing arising under or in respect of the laws of that jurisdiction.\n> \n> > (3) Subsection (2) has effect for the purposes of a law of New South Wales except as prescribed by regulations under section 80.\n> \n> > (4) This section does not require, prohibit, empower, authorise or otherwise provide for the doing of an act outside New South Wales.","sortOrder":46},{"sectionNumber":"36A","sectionType":"section","heading":"Construction of references to Commonwealth ART Act, Part 7","content":"#### 36A Construction of references to Commonwealth ART Act, Part 7\n\n36A Construction of references to Commonwealth ART Act, Part 7\n\n> For sections 35 and 36, a reference in a provision of the [Administrative Review Tribunal Act 2024](http://www.legislation.gov.au/) of the Commonwealth, as the provision applies as a law of this jurisdiction, to the whole or a part of that Act, Part 7 is taken to be a reference to the whole or a part of that Act, Part 7 as it has effect as a law of the Commonwealth.\n> \n> **s 36A:** Ins 2000 No 80, Sch 1.4 \\[5\\]. Am 2025 No 38, Sch 1.5\\[2\\].","sortOrder":47},{"sectionNumber":"37","sectionType":"section","heading":"Functions and powers conferred on Commonwealth authorities","content":"#### 37 Functions and powers conferred on Commonwealth authorities\n\n37 Functions and powers conferred on Commonwealth authorities\n\n> > (1) A Commonwealth administrative law applying because of section 35 that confers on an officer or authority of the Commonwealth a function or power in relation to an act, matter or thing arising under or in respect of an applicable provision of the Capital Territory also confers on the officer or authority the same function or power in relation to an act, matter or thing arising under or in respect of the corresponding applicable provision of New South Wales.\n> \n> > (2) A Commonwealth administrative law applying because of section 36 that confers on an officer or authority of the Commonwealth a function or power in relation to an act, matter or thing arising under or in respect of an applicable provision of the Capital Territory also confers on the officer or authority the same function or power in relation to an act, matter or thing arising under or in respect of the corresponding applicable provision of another jurisdiction.\n> \n> > (3) The function or power referred to in subsection (2) may only be performed or exercised in New South Wales.\n> \n> > (4) In performing a function or exercising a power conferred by subsection (1) or (2), an officer or authority of the Commonwealth must act as nearly as practicable as the officer or authority would act in performing or exercising the same function or power in relation to an act, matter or thing arising under or in respect of the corresponding applicable provision of the Capital Territory.\n> \n> > (5) A Commonwealth law applying because of section 35 or 36 applies as if it did not contain any provision empowering a Minister of State for the Commonwealth to give any directions in relation to the performance of a function or the exercise of a power conferred by subsection (1) or (2).\n> \n> **s 37:** Am 2001 No 32, Sch 2.2 \\[8\\].","sortOrder":48},{"sectionNumber":"38","sectionType":"section","heading":"Reference in Commonwealth administrative law to a provision of another law","content":"#### 38 Reference in Commonwealth administrative law to a provision of another law\n\n38 Reference in Commonwealth administrative law to a provision of another law\n\n> A reference in a Commonwealth administrative law to a provision of that or another Commonwealth administrative law is taken for the purposes of section 35 or 36, to be a reference to that provision as applying because of that section.","sortOrder":49},{"sectionNumber":"39","sectionType":"section","heading":null,"content":"#### 39\n\n39 (Repealed)","sortOrder":50},{"sectionNumber":"Part 9","sectionType":"part","heading":"Jurisdiction and procedure of courts","content":"# Part 9 Jurisdiction and procedure of courts\n\nPart 9 Jurisdiction and procedure of courts","sortOrder":52},{"sectionNumber":"40","sectionType":"section","heading":"Operation of Division","content":"#### 40 Operation of Division\n\n40 Operation of Division\n\n> > (1) This Division provides in relation to—\n> > \n> > > (a) the jurisdiction of courts in respect of civil matters arising under the Corporations Law of New South Wales, and\n> > \n> > > (b) the jurisdiction of the courts of New South Wales in respect of civil matters arising under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of another State or the Capital Territory, and\n> > \n> > > (c) the jurisdiction of courts in respect of matters arising under the [Administrative Decisions (Judicial Review) Act 1977](http://www.legislation.gov.au/) of the Commonwealth involving or related to decisions made under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of a State or the Capital Territory by Commonwealth authorities and officers of the Commonwealth, and\n> > \n> > > (d) the jurisdiction of courts in civil matters in respect of decisions made by officers of the Commonwealth to prosecute persons for offences against the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of a State or the Capital Territory and related criminal justice process decisions,\n> > \n> > and so provides to the exclusion of the [Jurisdiction of Courts (Cross-vesting) Act 1987](/view/html/inforce/current/act-1987-125).\n> \n> > (2) Nothing in this Division affects any other jurisdiction of any court.\n> \n> **s 40:** Am 1995 No 20, Sch 1 (1); 2000 No 80, Sch 1.4 \\[6\\].","sortOrder":54},{"sectionNumber":"41","sectionType":"section","heading":"Interpretation","content":"#### 41 Interpretation\n\n41 Interpretation\n\n> > (1) In this Division—\n> > \n> > civil matter means a matter other than a criminal matter.\n> > \n> > Commonwealth authority means an authority or body (whether incorporated or not) that is established or continued in existence by or under an Act of the Commonwealth.\n> > \n> > Corporations Law has the extended meaning given by subsection (2).\n> > \n> > judgment means a judgment, decree or order, whether final or interlocutory.\n> > \n> > lower court means a court of a State or Territory that is not a superior court.\n> > \n> > officer of the Commonwealth has the same meaning as in section 75 (v) of the [Commonwealth Constitution](http://www.legislation.gov.au/).\n> > \n> > superior court means the Supreme Court of a State or Territory or a State Family Court.\n> > \n> > superior court matter means a civil matter that the [Corporations Law](/view/html/inforce/current/sl-1999-0703) clearly intends (for example, by use of the expression “the Court”) to be dealt with only by a superior court.\n> \n> > (2) In this Division—\n> > \n> > > (a) a reference to the Corporations Law of New South Wales includes a reference to—\n> > > \n> > > > (i) the Corporations Regulations of New South Wales, and\n> > > \n> > > > (ii) the ASIC Law of New South Wales, and\n> > > \n> > > > (iii) the ASIC Regulations of New South Wales, and\n> > > \n> > > > (iv) any other applicable provisions (as defined in section 3) of New South Wales, and\n> > > \n> > > > (v) this Act, and\n> > > \n> > > > (vi) regulations made under this Act, and\n> > > \n> > > > (vii) rules of court made by the Supreme Court of New South Wales because of a provision of this Act, and\n> > > \n> > > > (viii) (Repealed)\n> > > \n> > > > (ix) rules of court applied by the Supreme Court of another State, or of the Capital Territory, or a State Family Court of another State, when exercising jurisdiction conferred by this Division (including jurisdiction conferred by virtue of any previous application or applications of this subparagraph), and\n> > \n> > > (b) a reference to the Corporations Law of another State or of the Capital Territory is a reference to the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of that other State or of the Capital Territory within the meaning of the law of that other State or the Capital Territory corresponding to this Division.\n> \n> **s 41:** Am 1991 No 52, Sch 1 (3); 1995 No 20, Sch 1 (2); 2000 No 80, Sch 1.4 \\[7\\]–\\[9\\].","sortOrder":55},{"sectionNumber":"42","sectionType":"section","heading":"Jurisdiction of Federal Court and State and Territory Supreme Courts","content":"#### 42 Jurisdiction of Federal Court and State and Territory Supreme Courts\n\n42 Jurisdiction of Federal Court and State and Territory Supreme Courts\n\n> > (1) Subject to section 9 of the [Administrative Decisions (Judicial Review) Act 1977](http://www.legislation.gov.au/) of the Commonwealth, jurisdiction is conferred on the Supreme Court of New South Wales and of each other State and the Capital Territory with respect to civil matters arising under the Corporations Law of New South Wales.\n> \n> > (1A) Despite section 9 of the [Administrative Decisions (Judicial Review) Act 1977](http://www.legislation.gov.au/) of the Commonwealth, jurisdiction is conferred on the Supreme Court of New South Wales and of each other State and the Capital Territory with respect to matters arising under that Act involving or related to decisions made, or proposed to be made, under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of a State or the Capital Territory by a Commonwealth authority or an officer of the Commonwealth.\n> \n> > (1B) Subsection (1A) applies to a decision made, or proposed or required to be made—\n> > \n> > > (a) whether or not in the exercise of a discretion, and\n> > \n> > > (b) whether before or after the commencement of Schedule 1 \\[11\\] to the [Federal Courts (Consequential Provisions) Act 2000](/view/html/repealed/current/act-2000-080).\n> \n> > (2) The jurisdiction conferred on a Supreme Court by subsection (1) or (1A) is not limited by any limits to which any other jurisdiction of that Supreme Court may be subject.\n> \n> > (3) This section has effect subject to section 42AA.\n> \n> **s 42:** Am 1991 No 52, Sch 1 (4); 2000 No 80, Sch 1.4 \\[10\\]–\\[13\\].","sortOrder":56},{"sectionNumber":"42A","sectionType":"section","heading":"Jurisdiction of Family Court and State Family Courts","content":"#### 42A Jurisdiction of Family Court and State Family Courts\n\n42A Jurisdiction of Family Court and State Family Courts\n\n> > (1) (Repealed)\n> \n> > (2) Subject to section 9 of the [Administrative Decisions (Judicial Review) Act 1977](http://www.legislation.gov.au/) of the Commonwealth, jurisdiction is conferred on each State Family Court with respect to civil matters arising under the Corporations Law of New South Wales.\n> \n> > (3) The jurisdiction conferred on a State Family Court by subsection (2) is not limited by any limits to which any other jurisdiction of the State Family Court may be subject.\n> \n> > (4) This section has effect subject to section 42AA.\n> \n> **s 42A:** Ins 1991 No 52, Sch 1 (5). Am 2000 No 80, Sch 1.4 \\[14\\]–\\[16\\].","sortOrder":57},{"sectionNumber":"42AA","sectionType":"section","heading":"Jurisdiction of Supreme Court in relation to certain decisions made by Commonwealth officers","content":"#### 42AA Jurisdiction of Supreme Court in relation to certain decisions made by Commonwealth officers\n\n42AA Jurisdiction of Supreme Court in relation to certain decisions made by Commonwealth officers\n\n> > (1) If a decision to prosecute a person for an offence against the Corporations Law of New South Wales has been made by an officer or officers of the Commonwealth and the prosecution is proposed to be commenced in a court of New South Wales, jurisdiction is conferred on the Supreme Court with respect to any matter in which a person seeks a writ of mandamus or prohibition or an injunction against the officer or officers in relation to that decision.\n> \n> > (2) At any time when—\n> > \n> > > (a) a prosecution for an offence against the Corporations Law of New South Wales is before a court of New South Wales, or\n> > \n> > > (b) an appeal arising out of such a prosecution is before a court of New South Wales,\n> > \n> > jurisdiction is conferred on the Supreme Court with respect to any matter in which the person who is or was the defendant in the prosecution seeks a writ of mandamus or prohibition or an injunction against an officer or officers of the Commonwealth in relation to a related criminal justice process decision.\n> \n> > (3) Subsections (1) and (2) have effect despite anything in this Act or in any other law.\n> \n> > (4) In this section—\n> > \n> > appeal includes an application for a new trial and a proceeding to review or call in question the proceedings, decision or jurisdiction of a court or judge.\n> > \n> > related criminal justice process decision, in relation to an offence, means a decision (other than a decision to prosecute) made in the criminal justice process in relation to the offence, including—\n> > \n> > > (a) a decision in connection with the investigation, committal for trial or prosecution of the defendant, and\n> > \n> > > (b) a decision in connection with the appointment of investigators or inspectors for the purposes of such an investigation, and\n> > \n> > > (c) a decision in connection with the issue of a warrant, including a search warrant or a seizure warrant, and\n> > \n> > > (d) a decision requiring the production of documents, the giving of information or the summoning of persons as witnesses, and\n> > \n> > > (e) a decision in connection with an appeal arising out of the prosecution.\n> \n> **s 42AA:** Ins 2000 No 80, Sch 1.4 \\[17\\].","sortOrder":58},{"sectionNumber":"42B","sectionType":"section","heading":"Jurisdiction of lower courts","content":"#### 42B Jurisdiction of lower courts\n\n42B Jurisdiction of lower courts\n\n> > (1) Subject to section 9 of the [Administrative Decisions (Judicial Review) Act 1977](http://www.legislation.gov.au/) of the Commonwealth, jurisdiction is conferred on the lower courts of New South Wales and of each other State and the Capital Territory with respect to civil matters, other than superior court matters, arising under the Corporations Law of New South Wales.\n> \n> > (2) The jurisdiction conferred on a lower court by subsection (1)—\n> > \n> > > (a) is subject to the court’s general jurisdictional limits, so far as they relate to the amounts, or the value of property, with which the court may deal, but\n> > \n> > > (b) is not subject to the court’s other jurisdictional limits.\n> \n> **s 42B:** Ins 1995 No 20, Sch 1 (3). Am 2000 No 80, Sch 1.4 \\[18\\].","sortOrder":59},{"sectionNumber":"43","sectionType":"section","heading":"Appeals","content":"#### 43 Appeals\n\n43 Appeals\n\n> > (1) An appeal may not be instituted from a decision of a court of New South Wales to a court of another State or of the Capital Territory.\n> \n> > (2), (3) (Repealed)\n> \n> > (4) An appeal may not be instituted from a decision of a court (not being a State Family Court) of another State to a State Family Court of that State or to a court of a different State or of the Capital Territory.\n> \n> > (5) An appeal may not be instituted from a decision of a court of the Capital Territory to a court of a State.\n> \n> > (6) An appeal may not be instituted from a decision of a State Family Court of a State to a court of the Capital Territory or of another State, or (except in accordance with the law of the State under which the State Family Court is constituted) to the Supreme Court of that State.\n> \n> **s 43:** Subst 1991 No 52, Sch 1 (6). Am 1995 No 20, Sch 1 (4); 2000 No 80, Sch 1.4 \\[19\\]–\\[23\\].","sortOrder":60},{"sectionNumber":"44","sectionType":"section","heading":"Transfer of proceedings","content":"#### 44 Transfer of proceedings\n\n44 Transfer of proceedings\n\n> > (1) This section applies to the following—\n> > \n> > > (a) a proceeding with respect to a civil matter arising under the Corporations Law of New South Wales that is in a court having jurisdiction under section 42 (1) or (2),\n> > \n> > > (b) a proceeding with respect to a matter referred to in section 42 (1A) that is in a court having jurisdiction under that subsection or in the Federal Court.\n> \n> > (2) Subject to subsections (3), (4) and (5), if it appears to the court that, having regard to the interests of justice, it is more appropriate for the proceeding, or an application in the proceeding, to be determined by another court having jurisdiction in the matters for determination in the proceeding or application, the first-mentioned court may transfer the proceeding or application to that other court.\n> \n> > (3) If a proceeding with respect to a matter referred to in section 42 (1A) is pending in the Supreme Court of a State or the Capital Territory (the relevant jurisdiction), the court must transfer the proceeding to the Federal Court unless the matter for determination in it arises out of, or relates to, another proceeding pending in any court of the relevant jurisdiction—\n> > \n> > > (a) that arises, or a substantial part of which arises, under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of a State or the Capital Territory, and\n> > \n> > > (b) that is not with respect to a matter referred to in section 42 (1A),\n> > \n> > regardless of which proceeding was commenced first.\n> \n> > (4) Even if the Supreme Court of a State or the Capital Territory is not required by subsection (3) to transfer a proceeding with respect to a matter referred to in section 42 (1A) to the Federal Court, it may nevertheless do so if it considers that to be appropriate, having regard to the interests of justice, including the desirability of related proceedings being heard in the same jurisdiction.\n> \n> > (5) If a proceeding with respect to a matter referred to in section 42 (1A) is pending in the Federal Court, the Federal Court may only transfer the proceeding, or an application in the proceeding, to the Supreme Court of a State or the Capital Territory (the relevant jurisdiction) if—\n> > \n> > > (a) the matter arises out of, or relates to, another proceeding pending in any court of the relevant jurisdiction—\n> > > \n> > > > (i) that arises, or a substantial part of which arises, under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of a State or the Capital Territory, and\n> > > \n> > > > (ii) that is not a proceeding with respect to a matter referred to in section 42 (1A),\n> > > \n> > > regardless of which proceeding was commenced first, and\n> > \n> > > (b) the Federal Court considers the transfer to be appropriate, having regard to the interests of justice, including the desirability of related proceedings being heard in the same jurisdiction.\n> \n> > (6) Nothing in this section confers on a court jurisdiction that the court would not otherwise have.\n> \n> > (7) The fact that some references in this section to the interests of justice include the desirability of related proceedings being heard in the same jurisdiction does not of itself mean that other references to the interests of justice, in this section or elsewhere in this Act, do not include that matter.\n> \n> **s 44:** Am 1991 No 52, Sch 1 (7); 2000 No 80, Sch 1.4 \\[24\\]–\\[26\\].","sortOrder":61},{"sectionNumber":"44A","sectionType":"section","heading":"Transfer of proceedings by Family Court and State Family Courts","content":"#### 44A Transfer of proceedings by Family Court and State Family Courts\n\n44A Transfer of proceedings by Family Court and State Family Courts\n\n> > (1) This section applies to a proceeding with respect to a civil matter arising under the Corporations Law of New South Wales in a State Family Court (in this section called the first court) having jurisdiction under section 42A.\n> \n> > (2) If it appears to the first court that—\n> > \n> > > (a) the proceeding arises out of, or is related to, another proceeding pending in another court of a State or of the Capital Territory, and that the court in which the other proceeding is pending is the most appropriate court to determine the first-mentioned proceeding, or\n> > \n> > > (b) having regard to—\n> > > \n> > > > (i) whether, in the first court’s opinion, apart from this Division or a law of another State or the Capital Territory corresponding to this Division, the proceeding, or a substantial part of it, would have been incapable of being instituted in the first court, and\n> > > \n> > > > (ii) the extent to which, in the first court’s opinion, the matters for determination in the proceeding are matters not within the first court’s jurisdiction apart from this Division or such a law, and\n> > > \n> > > > (iii) the interests of justice,\n> > > \n> > > another court of a State or of the Capital Territory, is the most appropriate court to determine the proceeding, or\n> > \n> > > (c) it is otherwise in the interests of justice that another court of a State or of the Capital Territory determine the proceeding,\n> > \n> > the first court must transfer the proceeding to that other court.\n> \n> > (3) Subject to subsection (2), if it appears to the first court that—\n> > \n> > > (a) the proceeding arises out of, or is related to, another proceeding pending in another State Family Court having jurisdiction under section 42A in the matters for determination in the first-mentioned proceeding, and that the other court is the most appropriate court to determine the first-mentioned proceeding, or\n> > \n> > > (b) it is otherwise in the interests of justice that the proceeding be determined by another State Family Court having jurisdiction under section 42A in the matters for determination in the proceeding,\n> > \n> > the first court must transfer the proceeding to the other court.\n> \n> > (4) If—\n> > \n> > > (a) the first court transfers the proceeding to another court, and\n> > \n> > > (b) it appears to the first court that—\n> > > \n> > > > (i) there is another proceeding pending in the first court that arises out of, or is related to, the first-mentioned proceeding, and\n> > > \n> > > > (ii) it is in the interests of justice that the other court also determine the other proceeding,\n> > \n> > the first court must also transfer the other proceeding to the other court.\n> \n> > (5) Nothing in this section confers on a court jurisdiction that the court would not otherwise have.\n> \n> **s 44A:** Ins 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1 (5) (6); 2000 No 80, Sch 1.4 \\[27\\]–\\[33\\].","sortOrder":62},{"sectionNumber":"44AA","sectionType":"section","heading":"Transfer of proceedings in lower courts","content":"#### 44AA Transfer of proceedings in lower courts\n\n44AA Transfer of proceedings in lower courts\n\n> > (1) This section applies to a proceeding with respect to a civil matter arising under the Corporations Law of New South Wales in a lower court (the first court) having jurisdiction under section 42B.\n> \n> > (2) If it appears to the first court that, having regard to the interests of justice, it is more appropriate for the proceeding, or an application in the proceeding, to be determined by another court (the second court) having jurisdiction in the matters for determination in the proceeding or application, the first court may take action under whichever of subsections (3) and (4) applies.\n> \n> > (3) If the second court is also a lower court, the first court may transfer the proceeding or application to the second court.\n> \n> > (4) If the second court is a superior court, the first court may transfer the proceeding or application to the relevant Supreme Court and recommend that the proceeding or application be transferred by the Supreme Court to the second court.\n> \n> > (5) The relevant Supreme Court is not bound to comply with a recommendation under subsection (4) and it may instead decide—\n> > \n> > > (a) to deal with the proceeding or application itself, or\n> > \n> > > (b) to transfer the proceeding or application to some other court (which could be the first court).\n> \n> > (6) Nothing in this section allows the relevant Supreme Court to transfer the proceeding or application to another court otherwise than in accordance with section 44 and the other requirements of this Division.\n> \n> > (6A) Nothing in this section confers on a court jurisdiction that the court would not otherwise have.\n> \n> > (7) In this section—\n> > \n> > relevant Supreme Court means the Supreme Court of the State or Territory of which the first court is a court.\n> \n> **s 44AA:** Ins 1995 No 20, Sch 1 (7). Am 2000 No 80, Sch 1.4 \\[34\\].","sortOrder":63},{"sectionNumber":"44B","sectionType":"section","heading":"Further matters for a court to consider when deciding whether to transfer a proceeding","content":"#### 44B Further matters for a court to consider when deciding whether to transfer a proceeding\n\n44B Further matters for a court to consider when deciding whether to transfer a proceeding\n\n> In deciding whether to transfer under section 44, 44A or 44AA a proceeding or application, a court must have regard to—\n> \n> > (a) the principal place of business of any body corporate concerned in the proceeding or application, and\n> \n> > (b) the place or places where the events that are the subject of the proceeding or application took place, and\n> \n> > (c) the other courts that have jurisdiction to deal with the proceeding or application.\n> \n> **s 44B:** Ins 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1 (8) (9).","sortOrder":64},{"sectionNumber":"44C","sectionType":"section","heading":"Transfer may be made at any stage","content":"#### 44C Transfer may be made at any stage\n\n44C Transfer may be made at any stage\n\n> A court may transfer under section 44, 44A or 44AA a proceeding or application—\n> \n> > (a) on the application of a party made at any stage, or\n> \n> > (b) of the court’s own motion.\n> \n> **s 44C:** Ins 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1 (10).","sortOrder":65},{"sectionNumber":"44D","sectionType":"section","heading":"Transfer of documents","content":"#### 44D Transfer of documents\n\n44D Transfer of documents\n\n> Where, under section 44, 44A or 44AA, a court transfers a proceeding, or an application in a proceeding, to another court—\n> \n> > (a) the Registrar or other proper officer of the first-mentioned court must transmit to the Registrar or other proper officer of the other court all documents filed in the first-mentioned court in respect of the proceeding or application, as the case may be, and\n> \n> > (b) the other court must proceed as if—\n> > \n> > > (i) the proceeding had been originally instituted in the other court, and\n> > \n> > > (ii) the same proceedings had been taken in the other court as were taken in the first-mentioned court, and\n> > \n> > > (iii) in a case where an application is transferred—the application had been made in the other court.\n> \n> **s 44D:** Ins 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1 (11).","sortOrder":66},{"sectionNumber":"45","sectionType":"section","heading":"Conduct of proceedings","content":"#### 45 Conduct of proceedings\n\n45 Conduct of proceedings\n\n> > (1) Subject to sections 51, 52 and 52A, where it appears to a court that, in determining a matter for determination in a proceeding, the court will, or will be likely to, be exercising relevant jurisdiction, the rules of evidence and procedure to be applied in dealing with the matter are to be such as the court considers appropriate in the circumstances, being rules that are applied in a superior court in Australia or in an external Territory.\n> \n> > (2) Where a proceeding is transferred or removed to a court (in this subsection called the transferee court) from another court (in this subsection called the transferor court), the transferee court must deal with the proceeding as if, subject to any order of the transferee court, the steps that had been taken for the purposes of the proceeding in the transferor court (including the making of an order), or similar steps, had been taken in the transferee court.\n> \n> > (3) In this section—\n> > \n> > relevant jurisdiction means—\n> > \n> > > (a), (b) (Repealed)\n> > \n> > > (c) jurisdiction conferred on a court of New South Wales with respect to civil matters arising under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of another State or the Capital Territory, or\n> > \n> > > (d) jurisdiction conferred on a court of another State or the Capital Territory with respect to civil matters arising under the Corporations Law of New South Wales, or\n> > \n> > > (e) jurisdiction conferred on a court of a State or the Capital Territory with respect to matters referred to in section 42 (1A).\n> \n> **s 45:** Am 1991 No 52, Sch 1 (9); 1995 No 20, Sch 1 (12) (13); 2000 No 80, Sch 1.4 \\[35\\] \\[36\\].","sortOrder":67},{"sectionNumber":"46","sectionType":"section","heading":"Courts to act in aid of each other","content":"#### 46 Courts to act in aid of each other\n\n46 Courts to act in aid of each other\n\n> All courts having jurisdiction in civil matters arising under the Corporations Law of New South Wales, or in matters referred to in section 42 (1A) and the officers of, or under the control of, those courts must severally act in aid of, and be auxiliary to, each other in all such matters.\n> \n> **s 46:** Am 1995 No 20, Sch 1 (14); 2000 No 80, Sch 1.4 \\[37\\].","sortOrder":68},{"sectionNumber":"47","sectionType":"section","heading":"Exercise of jurisdiction pursuant to cross-vesting provisions","content":"#### 47 Exercise of jurisdiction pursuant to cross-vesting provisions\n\n47 Exercise of jurisdiction pursuant to cross-vesting provisions\n\n> A court of New South Wales may—\n> \n> > (a) exercise jurisdiction (whether original or appellate) conferred on it by a law of another State or the Capital Territory corresponding to this Division with respect to matters arising under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of that State or Territory, and\n> \n> > (b) hear and determine a proceeding transferred to it under such a provision.\n> \n> **s 47:** Am 1995 No 20, Sch 1 (15) (16).","sortOrder":69},{"sectionNumber":"48","sectionType":"section","heading":"Rights of appearance","content":"#### 48 Rights of appearance\n\n48 Rights of appearance\n\n> A person who is entitled to practise as a barrister or a solicitor, or as both a barrister and a solicitor, in a court has, if a proceeding (in this subsection referred to as the transferred proceeding) in that court is transferred to another court under this Division or a law of another State or the Capital Territory that corresponds to this Division, the same entitlements to practise in relation to—\n> \n> > (a) the transferred proceeding, and\n> \n> > (b) any other proceeding out of which the transferred proceeding arises or to which the transferred proceeding is related, being another proceeding that is to be determined together with the transferred proceeding,\n> \n> in the other court that the person would have if the other court were a federal court exercising federal jurisdiction.","sortOrder":70},{"sectionNumber":"49","sectionType":"section","heading":"Limitation on appeals","content":"#### 49 Limitation on appeals\n\n49 Limitation on appeals\n\n> An appeal does not lie from a decision of a court—\n> \n> > (a) in relation to the transfer of a proceeding under this Division, or\n> \n> > (b) as to which rules of evidence and procedure are to be applied pursuant to section 45 (1).","sortOrder":71},{"sectionNumber":"50","sectionType":"section","heading":"Enforcement of judgments","content":"#### 50 Enforcement of judgments\n\n50 Enforcement of judgments\n\n> > (1) A judgment of a court of New South Wales that is entirely or partly given in the exercise of jurisdiction conferred by this Division, or by a law of another State that corresponds to this Division, is enforceable in New South Wales as if the judgment had been given by that court entirely in the exercise of the jurisdiction of that court apart from this Division or any such law.\n> \n> > (2) Where—\n> > \n> > > (a) a provision of a law of New South Wales (not being a law in relation to the enforcement of judgments) refers to a thing done by the Supreme Court of New South Wales or of another State or of the Capital Territory, a State Family Court or a particular lower court of New South Wales or of another State or of the Capital Territory, and\n> > \n> > > (b) that thing is done by another court in the exercise of jurisdiction conferred by this Division or a law of another State or the Capital Territory corresponding to this Division,\n> > \n> > the reference in that provision to the Supreme Court of New South Wales or of the other State or Territory, that State Family Court or that lower court, as the case may be, is taken as a reference to that other court.\n> \n> **s 50:** Am 1991 No 52, Sch 1 (10); 1995 No 20, Sch 1 (17)–(20); 2000 No 80, Sch 1.4 \\[38\\] \\[39\\].","sortOrder":72},{"sectionNumber":"51","sectionType":"section","heading":"Rules of the Supreme Court","content":"#### 51 Rules of the Supreme Court\n\n51 Rules of the Supreme Court\n\n> > (1) Rules of court, not inconsistent with the Corporations Law of New South Wales, may be made under the [Supreme Court Act 1970](/view/html/inforce/current/act-1970-052)—\n> > \n> > > (a) with respect to proceedings, and the practice and procedure, of that Court under that Law, and\n> > \n> > > (b) with respect to any matter or thing that is—\n> > > \n> > > > (i) required or permitted by that Law to be prescribed by rules within the meaning of that Law, or\n> > > \n> > > > (ii) necessary or convenient to be prescribed by such rules for carrying out or giving effect to that Law, and\n> > \n> > > (c) without limitation, with respect to costs, and with respect to rules as to meetings ordered by that Court.\n> > \n> > This subsection does not limit the rule-making powers conferred by the [Supreme Court Act 1970](/view/html/inforce/current/act-1970-052).\n> \n> > (1A) When a lower court of New South Wales is exercising jurisdiction with respect to matters arising under the Corporations Law of New South Wales, the court must apply the rules of court made under subsection (1), with such alterations as are necessary.\n> \n> > (2) When a court of New South Wales is exercising jurisdiction with respect to matters arising under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of another State or the Capital Territory, being jurisdiction conferred by a law of another State or the Capital Territory that corresponds to this Division, that court must apply the rules of court made under subsection (1), with such alterations as are necessary.\n> \n> > (3) When a court of another State or the Capital Territory is exercising jurisdiction with respect to matters arising under the Corporations Law of New South Wales, being jurisdiction conferred by this Division, that court must apply the rules of court made under the law of the State or Territory corresponding to subsection (1), with such alterations as are necessary.\n> \n> > (4) In this section—\n> > \n> > Corporations Law of another State or the Capital Territory does not include rules of court.\n> > \n> > Corporations Law of New South Wales does not include rules of court.\n> \n> **s 51:** Am 1995 No 20, Sch 1 (21)–(23).","sortOrder":73},{"sectionNumber":"52","sectionType":"section","heading":null,"content":"#### 52\n\n52 (Repealed)","sortOrder":74},{"sectionNumber":"52A","sectionType":"section","heading":"Rules of a State Family Court","content":"#### 52A Rules of a State Family Court\n\n52A Rules of a State Family Court\n\n> > (1) (Repealed)\n> \n> > (2) When a State Family Court of another State is exercising jurisdiction with respect to matters arising under the Corporations Law of New South Wales, being jurisdiction conferred by this Division, that Court must apply the rules of court made under the law of the State corresponding to section 61A (1) of the Corporations Act, with such alterations as are necessary.\n> \n> > (3) In this section—\n> > \n> > Corporations Law of New South Wales does not include rules of court.\n> \n> **s 52A:** Ins 1991 No 52, Sch 1 (11). Am 2000 No 80, Sch 1.4 \\[41\\].","sortOrder":76},{"sectionNumber":"53","sectionType":"section","heading":"Operation of Division","content":"#### 53 Operation of Division\n\n53 Operation of Division\n\n> This Division provides in relation to—\n> \n> > (a) the jurisdiction of courts in respect of criminal matters arising under the Corporations Law of New South Wales, and\n> \n> > (b) the jurisdiction of the courts of New South Wales in respect of criminal matters arising under the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of any jurisdiction.","sortOrder":78},{"sectionNumber":"54","sectionType":"section","heading":"Interpretation","content":"#### 54 Interpretation\n\n54 Interpretation\n\n> > (1) In this Division—\n> > \n> > magistrate means a magistrate who is remunerated by salary or otherwise.\n> \n> > (2) In this Division—\n> > \n> > > (a) a reference to the Corporations Law of New South Wales includes a reference to—\n> > > \n> > > > (i) the Corporations Regulations of New South Wales, and\n> > > \n> > > > (ii) the ASIC Law of New South Wales, and\n> > > \n> > > > (iii) the ASIC Regulations of New South Wales, and\n> > > \n> > > > (iv) any other applicable provisions (as defined in section 3) of New South Wales, and\n> > > \n> > > > (v) this Act, and\n> > > \n> > > > (vi) regulations made under this Act, and\n> > > \n> > > > (vii) rules of court made by the Supreme Court of New South Wales and rules of court applied by the Supreme Court of another State, or of the Capital Territory, when exercising jurisdiction conferred by this Division (including jurisdiction conferred by virtue of any previous application or applications of this subparagraph), and\n> > \n> > > (b) a reference to the Corporations Law of another State or of the Capital Territory is a reference to the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of that other State or of the Capital Territory within the meaning of the law of that other State or the Capital Territory corresponding to this Division.\n> \n> **s 54:** Am 2000 No 80, Sch 1.4 \\[42\\].","sortOrder":79},{"sectionNumber":"55","sectionType":"section","heading":"Jurisdiction of courts","content":"#### 55 Jurisdiction of courts\n\n55 Jurisdiction of courts\n\n> > (1) Subject to this section, the several courts of each State and the Capital Territory exercising jurisdiction—\n> > \n> > > (a) with respect to—\n> > > \n> > > > (i) the summary conviction, or\n> > > \n> > > > (ii) the examination and commitment for trial on indictment, or\n> > > \n> > > > (iii) the trial and conviction on indictment,\n> > > \n> > > of offenders or persons charged with offences against the laws of the State or Capital Territory, and with respect to—\n> > > \n> > > > (iv) their sentencing, punishment and release, or\n> > > \n> > > > (v) their liability to make reparation in connection with their offences, or\n> > > \n> > > > (vi) the forfeiture of property in connection with their offences, or\n> > > \n> > > > (vii) the proceeds of their crimes, and\n> > \n> > > (b) with respect to the hearing and determination of—\n> > > \n> > > > (i) proceedings connected with, or\n> > > \n> > > > (ii) appeals arising out of, or\n> > > \n> > > > (iii) appeals arising out of proceedings connected with,\n> > > \n> > > any such trial or conviction or any matter of a kind referred to in paragraph (a) (iv), (v), (vi) or (vii),\n> > \n> > have the equivalent jurisdiction with respect to offenders or persons charged with offences against the Corporations Law of New South Wales.\n> \n> > (2) Where a provision of a law of another State or the Capital Territory corresponding to subsection (1) is expressed to confer jurisdiction with respect to offenders or persons who are charged with offences against the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of that State or the Capital Territory upon a court of New South Wales, the court may exercise that jurisdiction.\n> \n> > (3) The jurisdiction conferred by subsection (1) is not to be exercised with respect to the summary conviction, or examination and commitment for trial, of any person except by a magistrate.\n> \n> > (4) The jurisdiction conferred by subsection (1) includes jurisdiction in accordance with provisions of a relevant law of another State or the Capital Territory, and—\n> > \n> > > (a) the reference in subsection (1) (b) to “any such trial or conviction” includes a reference to any conviction or sentencing in accordance with the provisions of a relevant law, and\n> > \n> > > (b) unless the contrary intention appears, a reference to jurisdiction conferred by subsection (1) includes a reference to such included jurisdiction.\n> \n> > (5) A person may be dealt with in accordance with a relevant law even if, apart from this section, the offence concerned—\n> > \n> > > (a) would be required to be prosecuted on indictment, or\n> > \n> > > (b) would be required to be prosecuted either summarily or on indictment.\n> \n> > (6) For the purposes of the application of a relevant law as provided by subsection (4)—\n> > \n> > > (a) a reference in that law to an indictable offence is taken to include a reference to an offence that may be prosecuted on indictment, and\n> > \n> > > (b) in order to determine the sentence that may be imposed on a person by a court pursuant to the relevant law, the person is taken to have been prosecuted and convicted on indictment in that court.\n> \n> > (7) Subject to subsections (9) and (10), the jurisdiction conferred on a court of a State or the Capital Territory by subsection (1) is conferred despite any limits as to locality of the jurisdiction of that court under the law of that State or of the Capital Territory.\n> \n> > (8) Subject to subsection (9), the jurisdiction conferred on a court of New South Wales by a law of another State or the Capital Territory corresponding to subsection (1) may be exercised despite any limits as to locality of the jurisdiction of that court under the law of New South Wales.\n> \n> > (9) Where—\n> > \n> > > (a) jurisdiction is conferred on a court of New South Wales in relation to the summary conviction of persons charged with offences against the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of this or another jurisdiction by subsection (1) or a corresponding provision of a law of another State or of the Capital Territory, and\n> > \n> > > (b) the court is satisfied that it is appropriate to do so, having regard to all the circumstances including the public interest,\n> > \n> > the court may decline to exercise that jurisdiction in relation to an offence committed in another State or the Capital Territory.\n> \n> > (10) The jurisdiction conferred on a court of another State or the Capital Territory by subsection (1) in relation to—\n> > \n> > > (a) the examination and commitment for trial on indictment, and\n> > \n> > > (b) the trial and conviction on indictment,\n> > \n> > of offenders or persons charged with offences against the Corporations Law of New South Wales is conferred only in relation to—\n> > \n> > > (c) offences committed outside Australia, and\n> > \n> > > (d) offences committed, begun or completed within the State or Territory concerned.\n> \n> > (11) In this section—\n> > \n> > Australia does not include the coastal sea.\n> > \n> > relevant law means a law providing that where, in proceedings before a court, a person pleads guilty to a charge for which he or she could be prosecuted on indictment, the person may be committed, to a court having jurisdiction to try offences on indictment, to be sentenced or otherwise dealt with without being tried in that last-mentioned court.","sortOrder":80},{"sectionNumber":"56","sectionType":"section","heading":"Laws to be applied","content":"#### 56 Laws to be applied\n\n56 Laws to be applied\n\n> > (1) Subject to this Division, the laws of New South Wales respecting—\n> > \n> > > (a) the arrest and custody in New South Wales of offenders or persons charged with offences, and\n> > \n> > > (b) criminal procedure in New South Wales in relation to such persons,\n> > \n> > apply in New South Wales, so far as they are applicable, to persons who are charged with offences against the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of New South Wales or of another State or the Capital Territory in respect of whom jurisdiction is conferred on a court of New South Wales by this Division or a corresponding law of another State or the Capital Territory.\n> \n> > (2) Subject to this Division, the laws of each other State and the Capital Territory respecting—\n> > \n> > > (a) the arrest and custody in that State or Territory of offenders or persons charged with offences, and\n> > \n> > > (b) criminal procedure in that State or Territory in relation to such persons,\n> > \n> > apply in that State or Territory, so far as they are applicable, to persons who are charged with offences against the Corporations Law of New South Wales in respect of whom jurisdiction is conferred on a court of that State or Territory by this Division.\n> \n> > (3) The application of laws by subsections (1) and (2) is in addition to, and not in derogation from, the application of laws effected by Part 8 or the corresponding law of another State or the Capital Territory.\n> \n> > (4) In this section—\n> > \n> > criminal procedure means the procedure for—\n> > \n> > > (a) the summary conviction, and\n> > \n> > > (b) the examination and commitment for trial and indictment, and\n> > \n> > > (c) the trial and conviction on indictment, and\n> > \n> > > (d) the hearing and determination of appeals arising out of any such trial or conviction or out of any related proceedings,\n> > \n> > of offenders or persons charged with offences, and includes the procedure for holding accused persons to bail.\n> > \n> > laws of each other State and the Capital Territory means the laws that apply in relation to offenders, or persons charged with offences, against the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of the State or Territory concerned.","sortOrder":81},{"sectionNumber":"Part 10","sectionType":"part","heading":"Companies Liquidation Account","content":"# Part 10 Companies Liquidation Account\n\nPart 10 Companies Liquidation Account","sortOrder":82},{"sectionNumber":"57","sectionType":"section","heading":"Companies Liquidation Account","content":"#### 57 Companies Liquidation Account\n\n57 Companies Liquidation Account\n\n> > (1) In this section—\n> > \n> > relevant money means—\n> > \n> > > (a) money that, immediately before the commencement of this section, stood to the credit of the Companies Liquidation Account established by section 428 of the [Companies (New South Wales) Code](/view/pdf/asmade/act-1981-122a), and\n> > \n> > > (b) money that, after the commencement of this section, is paid into the Companies Liquidation Account under provisions of the [Companies (New South Wales) Code](/view/pdf/asmade/act-1981-122a) that are taken to continue in force after the commencement of Chapter 5 of the [Corporations Law](/view/html/inforce/current/sl-1999-0703) for the purposes of windings up started before the commencement of that Chapter.\n> \n> > (2) Relevant money is to be dealt with in accordance with section 427 of the [Companies (New South Wales) Code](/view/pdf/asmade/act-1981-122a).","sortOrder":83},{"sectionNumber":"Part 11","sectionType":"part","heading":"The ASIC Law, and the ASIC Regulations, of New South Wales","content":"# Part 11 The ASIC Law, and the ASIC Regulations, of New South Wales\n\nPart 11 The ASIC Law, and the ASIC Regulations, of New South Wales","sortOrder":84},{"sectionNumber":"58","sectionType":"section","heading":"Application in New South Wales of the ASIC Act","content":"#### 58 Application in New South Wales of the ASIC Act\n\n58 Application in New South Wales of the ASIC Act\n\n> > (1) The ASIC Act as in force immediately before its repeal, other than the excluded provisions—\n> > \n> > > (a) applies as a law of New South Wales, and\n> > \n> > > (b) as so applying, may be referred to as the ASIC Law of New South Wales.\n> \n> > (2) The excluded provisions of the ASIC Act are—\n> > \n> > > Part 1, except section 6A\n> > \n> > > Part 2\n> > \n> > > Section 88\n> > \n> > > Divisions 1 and 4 of Part 4\n> > \n> > > Part 5\n> > \n> > > Part 6\n> > \n> > > Division 1 of Part 7\n> > \n> > > Part 8\n> > \n> > > Part 9\n> > \n> > > Division 1 of Part 10\n> > \n> > > Division 1 of Part 11\n> > \n> > > Part 12\n> > \n> > > Part 14\n> > \n> > > Sections 251 and 252\n> \n> **s 58:** Am 2001 No 32, Sch 2.2 \\[10\\].","sortOrder":86},{"sectionNumber":"59","sectionType":"section","heading":"Application of regulations","content":"#### 59 Application of regulations\n\n59 Application of regulations\n\n> The regulations in force, immediately before the repeal of the ASIC Act, under section 251 of that Act—\n> \n> > (a) apply as regulations in force for the purposes of the ASIC Law of New South Wales, and\n> \n> > (b) as so applying, may be referred to as the ASIC Regulations of New South Wales.\n> \n> **s 59:** Am 2001 No 32, Sch 2.2 \\[11\\] \\[12\\].","sortOrder":87},{"sectionNumber":"60","sectionType":"section","heading":"Interpretation of some expressions in the ASIC Law, and the ASIC Regulations, of New South Wales","content":"#### 60 Interpretation of some expressions in the ASIC Law, and the ASIC Regulations, of New South Wales\n\n60 Interpretation of some expressions in the ASIC Law, and the ASIC Regulations, of New South Wales\n\n> > (1) In this Part, and in the ASIC Law, and the ASIC Regulations, of New South Wales—\n> > \n> > Advisory Committee means the Companies and Securities Advisory Committee established by section 145 of the ASIC Act.\n> > \n> > affairs, in relation to a body corporate, has the same meaning as in section 246AA of the [Corporations Law](/view/html/inforce/current/sl-1999-0703).\n> > \n> > assist, in relation to a Commission delegate, means—\n> > \n> > > (a) to perform functions—\n> > > \n> > > > (i) as a member, officer or employee of the Commission delegate, and\n> > > \n> > > > (ii) in connection with the Commission delegate’s performance or exercise of a function or power delegated under section 102 of the ASIC Law, or\n> > \n> > > (b) to perform services for the Commission delegate in connection with the Commission delegate’s performance or exercise of a function or power delegated under section 102 of the ASIC Law.\n> > \n> > Australia includes any external Territory to which the ASIC Act extends.\n> > \n> > books includes—\n> > \n> > > (a) a register, and\n> > \n> > > (b) financial reports or financial records, however compiled, recorded or stored, and\n> > \n> > > (c) a document, and\n> > \n> > > (d) banker’s books, and\n> > \n> > > (e) any other record of information.\n> > \n> > Chairperson means—\n> > \n> > > (a) except in Part 11 of the ASIC Law or in relation to the Disciplinary Board—the Chairperson of the Commission, and\n> > \n> > > (b) in Part 11 of that Law or in relation to the Disciplinary Board—the Chairperson of the Disciplinary Board.\n> > \n> > Commission means the Australian Securities and Investments Commission established by section 7 of the ASIC Act.\n> > \n> > Commission delegate means a person to whom, or a body to which, a function or power is delegated under section 102 of the ASIC Law.\n> > \n> > contravention, in relation to a law, includes an ancillary offence relating to an offence against that law.\n> > \n> > court, except in section 248 of the ASIC Law, includes a tribunal having power to require the production of documents or the answering of questions.\n> > \n> > Deputy Chairperson means the Deputy Chairperson of the Commission.\n> > \n> > Disciplinary Board means the Companies Auditors and Liquidators Disciplinary Board established by section 202 of the ASIC Act.\n> > \n> > eligible person, in relation to a person, means a person who—\n> > \n> > > (a) if the first-mentioned person is a body corporate—is or has been an officer of the body within the meaning of a national scheme law or a corresponding previous law, or\n> > \n> > > (b) in any case—\n> > > \n> > > > (i) is or has been an employee, agent, banker, solicitor or auditor of, or\n> > > \n> > > > (ii) is acting, or has acted, in any other capacity on behalf of,\n> > > \n> > > the first-mentioned person.\n> > \n> > examination means—\n> > \n> > > (a) in this section and Part 3 (other than section 27 (2) and Division 9) of the ASIC Law—an examination of a person pursuant to a requirement made under section 19 of that Law, or\n> > \n> > > (b) in section 27 (2) and Division 9 of Part 3 of the ASIC Law—an examination of a person pursuant to a requirement made under section 19 of the ASIC Law or a corresponding provision of the ASIC Law of another jurisdiction.\n> > \n> > expenses, in relation to an investigation under Division 1 of Part 3 of the ASIC Law, includes costs and expenses incurred in relation to a proceeding begun under section 50 of the ASIC Law as a result of the investigation.\n> > \n> > fail means refuse or fail.\n> > \n> > foreign country means—\n> > \n> > > (a) an external Territory to which the ASIC Act does not extend, or\n> > \n> > > (b) a country outside Australia and the external Territories, or\n> > \n> > > (c) a part of such a country.\n> > \n> > give has—\n> > \n> > > (a) in relation to a document—a meaning affected by section 86 of the ASIC Law, and\n> > \n> > > (b) in relation to information—a meaning affected by section 61 of this Act.\n> > \n> > hearing, in this section and Part 3 of the ASIC Law, means a hearing before the Commission and, in sections 52, 54, 55 and 56 of that Law, includes a part of such a hearing.\n> > \n> > information has a meaning affected by section 61 of this Act.\n> > \n> > investigate, in relation to the Commission, means investigate in the course of performing or exercising any of the Commission’s functions and powers.\n> > \n> > meeting means—\n> > \n> > > (a) in Part 4 of the ASIC Law—a meeting of the Commission, and\n> > \n> > > (b) in Part 11 of that Law—a meeting of the Disciplinary Board.\n> > \n> > member means—\n> > \n> > > (a) except in Division 2 of Part 4, or in Part 10, 11, or 14, of the ASIC Law, or in relation to a Division of the Commission, or in relation to the Panel or the Disciplinary Board—a member of the Commission,\n> > \n> > > (b) in Part 10 of that Law or in relation to the Panel—a member of the Panel,\n> > \n> > > (c) in Part 11 of that Law or in relation to the Disciplinary Board—the Chairperson or any other member of the Disciplinary Board.\n> > \n> > national scheme law means—\n> > \n> > > (a) the following—\n> > > \n> > > > (i) the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of this jurisdiction,\n> > > \n> > > > (ii) the ASIC Law of this jurisdiction,\n> > > \n> > > > (iii) this Act, or\n> > \n> > > (b) the following—\n> > > \n> > > > (i) the Corporations Act,\n> > > \n> > > > (ii) the Corporations Law of the Capital Territory,\n> > > \n> > > > (iii) the ASIC Act, or\n> > \n> > > (c) a law of a jurisdiction (other than this jurisdiction or the Capital Territory) that corresponds to an Act or Law referred to in paragraph (a).\n> > \n> > national scheme law of this jurisdiction means—\n> > \n> > > (a) this Act, or\n> > \n> > > (b) the Corporations Law of New South Wales, or\n> > \n> > > (c) the ASIC Law of New South Wales.\n> > \n> > officer, in relation to a body corporate, includes—\n> > \n> > > (a) a director, secretary, executive officer or employee of the body,\n> > \n> > > (b) a receiver, or a receiver and manager, of property of the body,\n> > \n> > > (c) an administrator of the body or an administrator of a deed of company arrangement executed by the body,\n> > \n> > > (d) a liquidator, or a provisional liquidator, of the body, and\n> > \n> > > (e) a trustee or other person administering a compromise or arrangement made between the body and any other person or persons.\n> > \n> > Panel means the Corporations and Securities Panel established by section 171 of the ASIC Act.\n> > \n> > Panel proceedings means proceedings before the Panel on—\n> > \n> > > (a) an application made to the Panel under the [Corporations Law](/view/html/inforce/current/sl-1999-0703), or\n> > \n> > > (b) a reference of a decision to the Panel for review under the [Corporations Law](/view/html/inforce/current/sl-1999-0703).\n> > \n> > power includes an authority.\n> > \n> > prescribed means prescribed by the ASIC Law or the regulations.\n> > \n> > President means the President of the Panel.\n> > \n> > proceeding means—\n> > \n> > > (a) a proceeding in a court, or\n> > \n> > > (b) a proceeding or hearing before, or an examination by or before, a tribunal,\n> > \n> > whether the proceeding, hearing or examination is of a civil, administrative, criminal, disciplinary or other nature.\n> > \n> > produce, except in Part 3 of the ASIC Law, includes permit access to.\n> > \n> > property means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description and includes a thing in action and money.\n> > \n> > record, in relation to an examination, means the whole or a part of a record made under section 24 of the ASIC Law of statements made at the examination.\n> > \n> > regulations means the ASIC Regulations of this jurisdiction.\n> > \n> > report includes an interim report.\n> > \n> > staff member means—\n> > \n> > > (a) a member of the staff referred to in section 120 (1) of the ASIC Act or a person employed under section 120 (3) of that Act,\n> > \n> > > (b) a person engaged under section 121 (1) of that Act, or\n> > \n> > > (c) any of the officers, employees and persons who under section 122 of that Act are to assist the Commission.\n> > \n> > statement, in relation to an examination, includes a question asked, an answer given, and any other comment or remark made, at the examination.\n> > \n> > Territory means—\n> > \n> > > (a) the Capital Territory, or\n> > \n> > > (b) an external Territory to which the ASIC Act extends.\n> > \n> > this Act, except in this Part, means the ASIC Law, and includes the regulations.\n> > \n> > this jurisdiction means New South Wales.\n> > \n> > this Law includes the regulations.\n> > \n> > tribunal means—\n> > \n> > > (a) a tribunal in Australia, or\n> > \n> > > (b) any other body, authority or person in Australia having power, by law or by consent of parties, to hear, receive or examine evidence.\n> > \n> > witness means—\n> > \n> > > (a) in relation to a hearing before the Commission—a person appearing at the hearing to give evidence, or\n> > \n> > > (b) in relation to Panel proceedings—a person appearing in the proceedings to give evidence.\n> > \n> > written record, in relation to an examination, means—\n> > \n> > > (a) a record of the examination—\n> > > \n> > > > (i) that is made in writing, or\n> > > \n> > > > (ii) as reduced to writing, or\n> > \n> > > (b) a part of such a record.\n> \n> > (2) Subject to the ASIC Law of this jurisdiction, an expression has the same meaning in that Law and in the ASIC Regulations of this jurisdiction as in the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of this jurisdiction.\n> \n> **s 60:** Am 1995 No 20, Sch 1 (24); 1999 No 1, Sch 1 \\[4\\] \\[5\\]; 2000 No 80, Sch 1.4 \\[43\\] \\[44\\].","sortOrder":88},{"sectionNumber":"61","sectionType":"section","heading":"Giving information","content":"#### 61 Giving information\n\n61 Giving information\n\n> A reference in the ASIC Law, and the ASIC Regulations, of New South Wales to giving information includes a reference to—\n> \n> > (a) explaining or stating a matter, or\n> \n> > (b) identifying a person, matter or thing, or\n> \n> > (c) disclosing information, or\n> \n> > (d) answering a question.","sortOrder":89},{"sectionNumber":"62","sectionType":"section","heading":"Interpretation law","content":"#### 62 Interpretation law\n\n62 Interpretation law\n\n> > (1) Except so far as the contrary intention appears in the ASIC Law of New South Wales—\n> > \n> > > (a) Part 1.2 (except section 8) of the Corporations Law of New South Wales applies, and\n> > \n> > > (b) subject to paragraph (a), the [Acts Interpretation Act 1901](http://www.legislation.gov.au/) of the Commonwealth as in force at the commencement of section 5 (5) of the ASIC Act applies as law of New South Wales,\n> > \n> > in relation to the ASIC Law, and the ASIC Regulations, of New South Wales and any instrument made, granted or issued under that Law or those Regulations (other than application orders made for the purposes of that Law under section 111A of the [Corporations Law](/view/html/inforce/current/sl-1999-0703) of this jurisdiction) and so apply as if that Law were an Act of the Commonwealth and those Regulations or instruments were regulations or instruments made under such an Act.\n> \n> > (2) The [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) does not apply in relation to the ASIC Law, or the ASIC Regulations, of New South Wales or an application order or any other instrument made, granted or issued under that Law or those Regulations.","sortOrder":90},{"sectionNumber":"63","sectionType":"section","heading":"Alternative citations of the ASIC Law, and the ASIC Regulations, of New South Wales","content":"#### 63 Alternative citations of the ASIC Law, and the ASIC Regulations, of New South Wales\n\n63 Alternative citations of the ASIC Law, and the ASIC Regulations, of New South Wales\n\n> > (1) The ASIC Law of New South Wales may be referred to simply as the ASIC Law.\n> \n> > (2) The ASIC Regulations of New South Wales may be referred to simply as the ASIC Regulations.\n> \n> > (3) This section has effect subject to section 65.","sortOrder":92},{"sectionNumber":"64","sectionType":"section","heading":"References to ASIC Law, and ASIC Regulations, of another jurisdiction","content":"#### 64 References to ASIC Law, and ASIC Regulations, of another jurisdiction\n\n64 References to ASIC Law, and ASIC Regulations, of another jurisdiction\n\n> > (1) This section has effect for the purposes of an Act, a law of New South Wales or an instrument made under an Act or under such a law.\n> \n> > (2) Where a law of a jurisdiction other than New South Wales contains provisions corresponding to sections 5 and 6 of the Corporations Act and also provides for provisions of the ASIC Act to apply as law of that jurisdiction, those provisions of the ASIC Act, as so applying, are the ASIC Law of that jurisdiction.\n> \n> > (3) Where a law of a jurisdiction other than New South Wales provides for the regulations under section 251 of the ASIC Act to apply for the purposes of the ASIC Law of that jurisdiction, those regulations as so applying are the ASIC Regulations of that jurisdiction.\n> \n> **s 64:** Am 2001 No 32, Sch 2.2 \\[13\\].","sortOrder":93},{"sectionNumber":"65","sectionType":"section","heading":"References to ASIC Law and ASIC Regulations","content":"#### 65 References to ASIC Law and ASIC Regulations\n\n65 References to ASIC Law and ASIC Regulations\n\n> > (1) The object of this section is to help ensure that, so far as possible—\n> > \n> > > (a) the bodies established by the ASIC Act and the staff of those bodies, can perform functions and exercise powers, and\n> > \n> > > (b) persons can have dealings with those bodies,\n> > \n> > as if the ASIC Act, the ASIC Law of New South Wales and the ASIC Law of each other State, constituted a single national ASIC Law applying of its own force throughout Australia.\n> \n> > (2) Subject to this section, a reference in an instrument to the ASIC Law, or to the ASIC Regulations, is to be taken, for the purposes of the laws of New South Wales—\n> > \n> > > (a) to be a reference to the ASIC Law, or to the ASIC Regulations, of New South Wales, and\n> > \n> > > (b) to include a separate reference to the ASIC Law, or to the ASIC Regulations, of each jurisdiction other than New South Wales.\n> \n> > (3) Subsection (2) has effect except so far as the contrary intention appears in the instrument, or the context of the reference otherwise requires.\n> \n> > (4) Without limiting subsection (3), subsection (2) does not apply in relation to a reference expressed as a reference to the ASIC Law, or to the ASIC Regulations, of a jurisdiction.\n> \n> > (5) In this section—\n> > \n> > instrument means—\n> > \n> > > (a) an Act or an instrument made under an Act, or\n> > \n> > > (b) a law of New South Wales or an instrument made under such a law, or\n> > \n> > > (c) an award or other industrial determination or order, or an industrial agreement, or\n> > \n> > > (d) any other order (whether executive, judicial or otherwise), or\n> > \n> > > (e) a notice, certificate or licence, or\n> > \n> > > (f) an agreement, or\n> > \n> > > (g) an application made, information laid, affidavit sworn, or warrant issued, for any purpose, or\n> > \n> > > (h) an indictment, presentment, summons or writ, or\n> > \n> > > (i) any other pleading in, or process issued in connection with, a legal or other proceeding, or\n> > \n> > > (j) any other document whatever.","sortOrder":94},{"sectionNumber":"66","sectionType":"section","heading":"Conferral of functions and powers on Commission","content":"#### 66 Conferral of functions and powers on Commission\n\n66 Conferral of functions and powers on Commission\n\n> > (1) The Commission has the functions and powers conferred or expressed to be conferred on it under a national scheme law of this jurisdiction.\n> \n> > (2) The Commission also has the functions and powers conferred or expressed to be conferred upon the NCSC by or under a Code that is a relevant Code for the purposes of the Companies and Securities (Interpretation and Miscellaneous Provisions) (New South Wales) Code.\n> \n> > (3) The Commission also has the functions and powers conferred or expressed to be conferred on it under the [Government Insurance Office (Privatisation) Act 1991](/view/html/inforce/current/act-1991-038).\n> \n> **s 66:** Am 1991 No 38, Sch 2.","sortOrder":96},{"sectionNumber":"67","sectionType":"section","heading":null,"content":"#### 67\n\n67 (Repealed)","sortOrder":97},{"sectionNumber":"68","sectionType":"section","heading":"Conferral of other functions and powers for purposes of law in New South Wales","content":"#### 68 Conferral of other functions and powers for purposes of law in New South Wales\n\n68 Conferral of other functions and powers for purposes of law in New South Wales\n\n> The Commission has power to do acts in New South Wales in the performance or exercise of any function or power—\n> \n> > (a) expressed to be conferred on the Commission by a national scheme law of another jurisdiction, or\n> \n> > (b) (Repealed)\n> \n> **s 68:** Am 2001 No 32, Sch 2.2 \\[15\\].","sortOrder":99},{"sectionNumber":"69","sectionType":"section","heading":null,"content":"#### 69\n\n69 (Repealed)","sortOrder":100},{"sectionNumber":"Division 4","sectionType":"division","heading":"The Panel","content":"## Division 4 The Panel\n\nDivision 4 The Panel","sortOrder":102},{"sectionNumber":"70","sectionType":"section","heading":"Conferral of functions and powers on the Panel","content":"#### 70 Conferral of functions and powers on the Panel\n\n70 Conferral of functions and powers on the Panel\n\n> > (1) The Panel has the functions and powers conferred on it by or under a national scheme law of this jurisdiction.\n> \n> > (2) The Panel has power to do acts in New South Wales in the performance or exercise of any function or power expressed to be conferred on the Panel by a national scheme law of another jurisdiction.","sortOrder":103},{"sectionNumber":"Division 5","sectionType":"division","heading":"The Disciplinary Board","content":"## Division 5 The Disciplinary Board\n\nDivision 5 The Disciplinary Board","sortOrder":104},{"sectionNumber":"71","sectionType":"section","heading":"Conferral of functions and powers on the Disciplinary Board","content":"#### 71 Conferral of functions and powers on the Disciplinary Board\n\n71 Conferral of functions and powers on the Disciplinary Board\n\n> > (1) The Disciplinary Board has the functions and powers conferred on it by or under a national scheme law of this jurisdiction.\n> \n> > (2) The Disciplinary Board has power to do acts in New South Wales in the performance or exercise of any function or power expressed to be conferred on it by a national scheme law of another jurisdiction.","sortOrder":105},{"sectionNumber":"Division 6","sectionType":"division","heading":"Miscellaneous","content":"## Division 6 Miscellaneous\n\nDivision 6 Miscellaneous","sortOrder":106},{"sectionNumber":"72","sectionType":"section","heading":"Acting appointments","content":"#### 72 Acting appointments\n\n72 Acting appointments\n\n> Where a person is appointed under the ASIC Act to act in a particular office, the law of this jurisdiction applies in relation to that person while acting in that office as if the person were the holder of the office.","sortOrder":107},{"sectionNumber":"73","sectionType":"section","heading":"Alteration of names and constitutions","content":"#### 73 Alteration of names and constitutions\n\n73 Alteration of names and constitutions\n\n> > (1) Where—\n> > \n> > > (a) the name of a body established by the ASIC Act is changed by law (whether or not the body is incorporated), or\n> > \n> > > (b) the name of an office established by that Act is changed by law,\n> > \n> > then, unless the contrary intention appears, a reference in—\n> > \n> > > (c) any Act of this jurisdiction, or\n> > \n> > > (d) any instrument under such an Act, or\n> > \n> > > (e) any award or other industrial determination or order or any industrial agreement, or\n> > \n> > > (f) any other order (whether executive, judicial or otherwise), or\n> > \n> > > (g) any contract, or\n> > \n> > > (h) any pleading in, or process issued in connection with, any legal or other proceeding, or\n> > \n> > > (i) any other instrument,\n> > \n> > to the body or the office under the former name, except in relation to matters that occurred before that change took place, is taken as a reference to the body or the office under the new name.\n> \n> > (2) Where the constitution of a body established by the ASIC Act is changed by law (whether or not the body is incorporated), then, unless the contrary intention appears, the alteration does not affect any functions or powers conferred or expressed to be conferred on that body by a national scheme law of this jurisdiction.","sortOrder":108},{"sectionNumber":"74","sectionType":"section","heading":"Application of Commonwealth Crimes Act","content":"#### 74 Application of Commonwealth Crimes Act\n\n74 Application of Commonwealth Crimes Act\n\n> > (1) For the purposes of Part 3 of the ASIC Law of New South Wales, Part III of the [Crimes Act 1914](http://www.legislation.gov.au/) of the Commonwealth applies as a law of New South Wales.\n> \n> > (2) For the purposes of Part III of the [Crimes Act 1914](http://www.legislation.gov.au/) of the Commonwealth as applying because of subsection (1), an examination or a hearing is a judicial proceeding.\n> \n> > (3) For the purposes of a national scheme law of New South Wales—\n> > \n> > > (a) an offence under Part III of the [Crimes Act 1914](http://www.legislation.gov.au/) of the Commonwealth as applying because of subsection (1) in relation to an examination or hearing, is taken to be an offence against Part 3 of the ASIC Law of New South Wales, and\n> > \n> > > (b) an offence under Part III of the [Crimes Act 1914](http://www.legislation.gov.au/) of the Commonwealth as applying, in relation to an examination or hearing held under the ASIC Law of another jurisdiction, as a law of that jurisdiction is taken to be an offence against Part 3 of the ASIC Law of that jurisdiction.\n> \n> **s 74:** Am 1991 No 52, Sch 1 (12).","sortOrder":109},{"sectionNumber":"75","sectionType":"section","heading":"Application of Commonwealth Evidence Act","content":"#### 75 Application of Commonwealth Evidence Act\n\n75 Application of Commonwealth Evidence Act\n\n> > (1) For the purposes of Part 3 of the ASIC Law of New South Wales, the following provisions of the [Evidence Act 1995](http://www.legislation.gov.au/) of the Commonwealth apply as a law of New South Wales—\n> > \n> > > Part 2.2 (Documents)\n> > \n> > > Section 69 (Exception: business records)\n> > \n> > > Section 70 (Exception: contents of tags, labels and writing)\n> > \n> > > Section 71 (Exception: telecommunications)\n> > \n> > > Section 147 (Documents produced by processes, machines and other devices in the course of business)\n> > \n> > > Division 2 (Proof of certain matters by affidavits or written statements) of Part 4.6.\n> \n> > (2) Those provisions of the [Evidence Act 1995](http://www.legislation.gov.au/) of the Commonwealth apply to an examination in the same way as they apply to a proceeding to which that Act applies under section 4 of that Act.\n> \n> **s 75:** Subst 1995 No 20, Sch 1 (25).","sortOrder":110},{"sectionNumber":"Part 12","sectionType":"part","heading":"General","content":"# Part 12 General\n\nPart 12 General","sortOrder":111},{"sectionNumber":"76","sectionType":"section","heading":"Definition","content":"#### 76 Definition\n\n76 Definition\n\n> In this Division—\n> \n> relevant State law means—\n> \n> > (a) a law of the State concerning the management or affairs of a body corporate, or\n> \n> > (b) a law of the State concerning fraud or dishonesty, or\n> \n> > (c) any other law of the State,\n> \n> other than a co-operative scheme law.","sortOrder":113},{"sectionNumber":"77","sectionType":"section","heading":"Arrangements relating to applicable provisions","content":"#### 77 Arrangements relating to applicable provisions\n\n77 Arrangements relating to applicable provisions\n\n> > (1) Where an arrangement between the Attorney General and the Commonwealth Minister provides—\n> > \n> > > (a) that an authority or officer of the Commonwealth has certain functions or powers under a relevant State law, or\n> > \n> > > (b) that, despite section 33 or 39, an authority or officer of the State has certain functions or powers under an applicable provision of this jurisdiction,\n> > \n> > those functions or powers are conferred on that authority or officer.\n> \n> > (2) Functions and powers conferred under an arrangement under subsection (1) are to be performed and exercised in accordance with the arrangement but are to be taken to have been validly performed or exercised despite any failure to comply with any condition or restriction under the arrangement.\n> \n> > (3) Such an arrangement may not be entered into without the concurrence of the Premier.","sortOrder":114},{"sectionNumber":"78","sectionType":"section","heading":"Notice of arrangement","content":"#### 78 Notice of arrangement\n\n78 Notice of arrangement\n\n> Notice of each arrangement under section 77 must be published in the Government Gazette and in the Commonwealth of Australia Gazette within 21 days after it is made.","sortOrder":115},{"sectionNumber":"79","sectionType":"section","heading":"Application of penalties and fines","content":"#### 79 Application of penalties and fines\n\n79 Application of penalties and fines\n\n> All fines, penalties and other money (other than fees and taxes) which, under and by virtue of the applicable provisions of New South Wales, are authorised or directed to be imposed on any person must be paid to the Commonwealth.","sortOrder":117},{"sectionNumber":"80","sectionType":"section","heading":"Regulations","content":"#### 80 Regulations\n\n80 Regulations\n\n> > (1) The Governor may make regulations, not inconsistent with the national scheme laws of this jurisdiction, for or with respect to any matter that is required or permitted by this Act to be prescribed or that is necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n> \n> > (2) The regulations may contain provisions of a savings or transitional nature consequent on the enactment of this Act, being provisions not inconsistent with the national scheme laws of this jurisdiction.\n> \n> > (3) Any such provision may, if the regulations so provide, take effect on the date of commencement of this section or a later date.\n> \n> > (4) To the extent to which any such provision takes effect from a date that is earlier than the date of its publication in the Government Gazette, the provision does not operate so as—\n> > \n> > > (a) to affect, in a manner prejudicial to any person (other than the State or an authority of the State), the rights of that person existing before the date of that publication, or\n> > \n> > > (b) to impose a liability on any person (other than the State or an authority of the State) in respect of anything done or omitted to be done before the date of that publication.\n> \n> > (5) Regulations containing provisions of a kind referred to in subsection (2) cease to have effect on the first anniversary of the day on which this section commences.\n> \n> > (6) Where regulations cease to have effect because of subsection (5), the [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) applies as if the regulations had been disallowed by the Parliament.","sortOrder":119},{"sectionNumber":"Part 13","sectionType":"part","heading":"Transitional","content":"# Part 13 Transitional\n\nPart 13 Transitional","sortOrder":120},{"sectionNumber":"81","sectionType":"section","heading":"Information previously acquired","content":"#### 81 Information previously acquired\n\n81 Information previously acquired\n\n> A staff member who, before the commencement of this section, was an officer or employee of the Public Service of New South Wales engaged in the administration of a co-operative scheme law may disclose to the Commission information acquired while so engaged.","sortOrder":122},{"sectionNumber":"82","sectionType":"section","heading":null,"content":"#### 82\n\n82, 83 (Repealed)","sortOrder":123},{"sectionNumber":"84","sectionType":"section","heading":"Co-operative scheme laws","content":"#### 84 Co-operative scheme laws\n\n84 Co-operative scheme laws\n\n> For the purposes of this Act, the following are the co-operative scheme laws—\n> \n> > [Companies (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-122)\n> \n> > [Companies (New South Wales) Code](/view/pdf/asmade/act-1981-122a)\n> \n> > [Companies (Acquisition of Shares) (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-062)\n> \n> > Companies (Acquisition of Shares) (New South Wales) Code\n> \n> > [Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-063)\n> \n> > Companies and Securities (Interpretation and Miscellaneous Provisions) (New South Wales) Code\n> \n> > [Securities Industry (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-061)\n> \n> > Securities Industry (New South Wales) Code\n> \n> > [Futures Industry (Application of Laws) Act 1986](/view/html/repealed/current/act-1986-066)\n> \n> > Futures Industry (New South Wales) Code","sortOrder":126},{"sectionNumber":"85","sectionType":"section","heading":"National scheme laws prevail over co-operative scheme laws","content":"#### 85 National scheme laws prevail over co-operative scheme laws\n\n85 National scheme laws prevail over co-operative scheme laws\n\n> > (1) This section provides for the national scheme laws of this jurisdiction to supersede the co-operative scheme laws, which are to continue to operate of their own force only in relation to—\n> > \n> > > (a) matters arising before the commencement of this section, and\n> > \n> > > (b) matters arising, directly or indirectly, out of such matters,\n> > \n> > in so far as the national scheme laws or the Corporations legislation do not deal with those matters.\n> \n> > (2) Where a co-operative scheme law is inconsistent with a national scheme law of this jurisdiction, the national scheme law prevails and, to the extent of the inconsistency, the co-operative scheme law does not operate.\n> \n> > (3) For the purposes of subsection (2), a co-operative scheme law is inconsistent with a national scheme law if it would be inconsistent within the meaning of section 109 of the [Constitution of the Commonwealth](http://www.legislation.gov.au/) of Australia if the national scheme law were an Act of the Commonwealth.\n> \n> > (4) In this section—\n> > \n> > Corporations legislation means the Corporations legislation to which Part 1.1A of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth applies.\n> \n> **s 85:** Am 1991 No 52, Sch 1 (13); 2001 No 32, Sch 2.2 \\[17\\] \\[18\\].","sortOrder":127},{"sectionNumber":"86","sectionType":"section","heading":"Regulations may exclude residual operation of co-operative scheme laws","content":"#### 86 Regulations may exclude residual operation of co-operative scheme laws\n\n86 Regulations may exclude residual operation of co-operative scheme laws\n\n> > (1) Regulations under section 80 may provide that prescribed provisions of co-operative scheme laws do not operate, either generally or as otherwise prescribed by the regulations.\n> \n> > (2) Regulations in force because of subsection (1) have effect accordingly.","sortOrder":128},{"sectionNumber":"87","sectionType":"section","heading":"Effect of sections 85 and 86","content":"#### 87 Effect of sections 85 and 86\n\n87 Effect of sections 85 and 86\n\n> > (1) To the extent that a co-operative scheme law ceases to operate because of section 85 or 86, the law is taken for the purposes of the [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) to have been repealed by this Act.\n> \n> > (2) Nothing in this Act revives, or otherwise affects the exclusion of, the provisions referred to in section 18 (1) of the [Companies (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-122) or section 16 (1) of the [Securities Industry (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-061).\n> \n> > (3) The amendment of the [Companies (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-122) by Schedule 2.1 to the [Corporations (Ancillary Provisions) Act 2001](/view/html/inforce/current/act-2001-032) does not revive, or otherwise affect the exclusion of, the provisions referred to in section 18 (1) of the [Companies (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-122).\n> \n> > (4) The amendment of the [Securities Industry (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-061) by Schedule 2.5 to the [Corporations (Ancillary Provisions) Act 2001](/view/html/inforce/current/act-2001-032) does not revive, or otherwise affect the exclusion of, the provisions referred to in section 16 (1) of the [Securities Industry (Application of Laws) Act 1981](/view/html/repealed/current/act-1981-061).\n> \n> **s 87:** Am 2001 No 32, Sch 2.2 \\[19\\].","sortOrder":129},{"sectionNumber":"88","sectionType":"section","heading":"Regulations may modify co-operative scheme laws","content":"#### 88 Regulations may modify co-operative scheme laws\n\n88 Regulations may modify co-operative scheme laws\n\n> > (1) Regulations under section 80 may provide that a specified co-operative scheme law, or specified provisions of a co-operative scheme law, has or have effect with such modifications as the regulations prescribe.\n> \n> > (2) Regulations in force because of subsection (1) have effect accordingly, even if, because of section 85 or 86, the specified law does not operate of its own force, or the specified provisions do not operate of their own force, as the case requires.\n> \n> > (3) However, a reference in section 85 (2) to a co-operative scheme law includes a reference to such a law as it has effect, or to provisions of such a law as they have effect, because of this section.","sortOrder":130},{"sectionNumber":"89","sectionType":"section","heading":"Co-operative scheme laws not affected by certain Commonwealth regulations","content":"#### 89 Co-operative scheme laws not affected by certain Commonwealth regulations\n\n89 Co-operative scheme laws not affected by certain Commonwealth regulations\n\n> The operation or effect of a co-operative scheme law is not modified or otherwise affected because regulations of a kind referred to in section 77 or 79 of the Corporations Act modify or otherwise affect the operation of a Co-operative Scheme Act within the meaning of Part 12 of the Corporations Act.","sortOrder":131},{"sectionNumber":"90","sectionType":"section","heading":"References to co-operative scheme laws and regulations","content":"#### 90 References to co-operative scheme laws and regulations\n\n90 References to co-operative scheme laws and regulations\n\n> > (1) In this section—\n> > \n> > Code regulations means provisions applying as regulations made under a Code by reason of a provision of an Act that is a co-operative scheme law.\n> > \n> > instrument has the same meaning as in section 13, but does not include—\n> > \n> > > (a) a co-operative scheme law, or\n> > \n> > > (b) regulations under an Act that is such a law, or under this Act, or\n> > \n> > > (c) Code regulations, or\n> > \n> > > (d) a national scheme law of this jurisdiction, or the Corporations Regulations, or ASIC Regulations, of New South Wales.\n> \n> > (2) Subject to subsection (4) and to any regulations in force under subsection (7), a reference in an instrument to a co-operative scheme law is to be taken to include a reference to such provisions of the national scheme laws of this jurisdiction as correspond to provisions of the co-operative scheme law.\n> \n> > (3) Subject to subsection (4) and to any regulations in force under subsection (7), a reference in an instrument to Code regulations is to be taken to include a reference to such provisions of the Corporations Regulations, or ASIC Regulations, of New South Wales as correspond to provisions of the Code regulations.\n> \n> > (4) Subject to any regulations in force under subsection (7), a reference in an instrument to a provision of a co-operative scheme law or of Code regulations is to be taken to include a reference to the corresponding provision of a national scheme law of this jurisdiction or of the Corporations Regulations, or ASIC Regulations, of New South Wales, as the case may be.\n> \n> > (5) Subject to any regulations in force under subsection (7), a reference in an instrument to the NCSC is to be taken to include a reference to the Commission.\n> \n> > (6) Regulations under section 80 may declare that, for the purposes of this section—\n> > \n> > > (a) prescribed provisions of national scheme laws of this jurisdiction correspond to prescribed provisions of co-operative scheme laws, and\n> > \n> > > (b) prescribed provisions of the Corporations Regulations, or ASIC Regulations, correspond to prescribed provisions of Code regulations.\n> \n> > (7) Regulations under section 80—\n> > \n> > > (a) may declare that subsection (2), (3), (4) or (5) of this section does not apply in relation to prescribed references in prescribed instruments, or\n> > \n> > > (b) may declare that subsection (2), (3), (4) or (5) of this section has effect in relation to prescribed references in prescribed instruments as if, in the subsection, the words “be taken to be” were substituted for the words “be taken to include”.\n> \n> > (8) Regulations in force because of subsection (6) or (7) have effect accordingly.\n> \n> **s 90:** Am 1991 No 52, Sch 1 (14).","sortOrder":132},{"sectionNumber":"91","sectionType":"section","heading":"Conferral of functions and powers in relation to co-operative scheme laws","content":"#### 91 Conferral of functions and powers in relation to co-operative scheme laws\n\n91 Conferral of functions and powers in relation to co-operative scheme laws\n\n> > (1) The Commonwealth Director of Public Prosecutions—\n> > \n> > > (a) has the same enforcement powers in relation to the co-operative scheme laws as has the Director of Public Prosecutions of New South Wales, and\n> > \n> > > (b) may, in relation to an offence against a co-operative scheme law, perform the functions and exercise the powers conferred on the Director of Public Prosecutions by the [Director of Public Prosecutions Act 1983](http://www.legislation.gov.au/) of the Commonwealth in relation to offences against the laws of the Commonwealth as if the offence against the co-operative scheme law were an offence against a national scheme law of this jurisdiction.\n> \n> > (2) The Australian Federal Police—\n> > \n> > > (a) have the same enforcement powers in relation to the co-operative scheme laws as has the Police Service of New South Wales, and\n> > \n> > > (b) may, in relation to an offence against a co-operative scheme law, perform the functions and exercise the powers conferred on the Australian Federal Police in relation to offences against the laws of the Commonwealth as if the offence against the co-operative scheme law were an offence against a national scheme law of this jurisdiction.\n> \n> > (3) The Commonwealth Minister has, in respect of the prosecution of offences against the co-operative scheme laws, the same functions and powers as he or she has in respect of the prosecution of offences against a national scheme law of this jurisdiction.\n> \n> > (4) For the purposes of the exercise of enforcement powers, and other functions and powers conferred by this section, including the obtaining of warrants to arrest, an offence against a co-operative scheme law is taken to be an offence against a national scheme law of this jurisdiction.\n> \n> > (5) In this section, enforcement power means a function or power relating to—\n> > \n> > > (a) the investigation of an offence, or\n> > \n> > > (b) the arrest and custody of persons charged with an offence, or\n> > \n> > > (c) the institution and carrying on of a prosecution of an offence, or\n> > \n> > > (d) matters relating to such an investigation, arrest, custody or prosecution.\n> \n> **s 91:** Am 1995 No 20, Sch 1 (26).","sortOrder":133},{"sectionNumber":"92","sectionType":"section","heading":"Arrangements affecting exercise of investigation powers by State authorities and officers","content":"#### 92 Arrangements affecting exercise of investigation powers by State authorities and officers\n\n92 Arrangements affecting exercise of investigation powers by State authorities and officers\n\n> > (1) Where an arrangement between the Attorney General and the Commonwealth Minister makes provision in relation to the exercise by a State authority or officer of enforcement powers within the meaning of section 91 in relation to the co-operative scheme laws—\n> > \n> > > (a) the State authority or officer is authorised to act in accordance with that arrangement, and\n> > \n> > > (b) the State authority or officer must not exercise an enforcement power except in accordance with that arrangement, and\n> > \n> > > (c) the exercise of, or failure to exercise, an enforcement power by a State authority or officer is to be taken to have been validly performed or withheld, despite any failure to comply with any conditions in the arrangement.\n> \n> > (2) Notice of each arrangement under subsection (1) must be published in the Government Gazette and in the Commonwealth of Australia Gazette within 21 days after it is made.\n> \n> > (3) Such an arrangement may not be entered into without the concurrence of the Premier.","sortOrder":134},{"sectionNumber":"94","sectionType":"section","heading":"Saving of provisions about Australian Stock Exchange Limited","content":"#### 94 Saving of provisions about Australian Stock Exchange Limited\n\n94 Saving of provisions about Australian Stock Exchange Limited\n\n> > (1) Section 85 does not apply in relation to Part IIA of the Securities Industry (New South Wales) Code.\n> \n> > (2) Part IIA has effect, as provided in this section, despite the national scheme laws of this jurisdiction.\n> \n> > (3) A reference in Part IIA to a relevant Code, except in relation to a time before the commencement of this section, is taken to be a reference to a national scheme law of this jurisdiction.\n> \n> > (4) Subject to subsection (5), a reference in Part IIA to a particular co-operative scheme law, except in relation to a time before that commencement, is taken to be a reference to such provisions of the national scheme laws of this jurisdiction as correspond to provisions of that law.\n> \n> > (5) A reference in Part IIA to a provision of a co-operative scheme law (other than a provision of Part IIA itself), except in relation to a time before that commencement, is taken to be a reference to the corresponding provision of a national scheme law of this jurisdiction.\n> \n> > (6) Regulations in force because of section 90 (6) also have effect for the purposes of this section.","sortOrder":137},{"sectionNumber":"95","sectionType":"section","heading":"Board to continue in existence for certain purposes","content":"#### 95 Board to continue in existence for certain purposes\n\n95 Board to continue in existence for certain purposes\n\n> The Companies Auditors and Liquidators Disciplinary Board established under section 18A of the [Companies (Administration) Act 1981](/view/html/repealed/current/act-1981-064) may perform the functions and exercise the powers conferred on it under Division 2 of Part II of the [Companies (New South Wales) Code](/view/pdf/asmade/act-1981-122a) in respect of applications made to it under Subdivision B of that Division before the commencement of this section.","sortOrder":139},{"sectionNumber":"96","sectionType":"section","heading":"References to Corporate Affairs Commission","content":"#### 96 References to Corporate Affairs Commission\n\n96 References to Corporate Affairs Commission\n\n> > (1) In this section—\n> > \n> > function includes power, authority or duty.\n> > \n> > instrument has the same meaning as in section 13, but does not include this Act, the regulations under this Act, the [Companies (Administration) Act 1981](/view/html/repealed/current/act-1981-064) or a prescribed instrument or prescribed part of an instrument.\n> > \n> > Managing Director means the Managing Director of Business and Consumer Affairs.\n> \n> > (2) A reference in an instrument to the Corporate Affairs Commission or the Commissioner for Corporate Affairs is to be taken to be a reference to the Managing Director or to such officer or body (whether of this State or not) as is prescribed by regulations under section 80.\n> \n> > (3) Subsection (2) extends to a reference required by section 18 of the [Companies (Administration) Act 1981](/view/html/repealed/current/act-1981-064) to be construed as a reference to the Corporate Affairs Commission.\n> \n> > (4) The Managing Director may delegate any of the functions conferred or imposed on the Managing Director because of this section.\n> \n> > (5) Except in so far as the instrument of delegation otherwise provides, a person to whom a function has been delegated under subsection (4) may authorise another person to perform the function so delegated.\n> \n> > (6) Section 80 (5) does not apply to the provisions of regulations made for the purposes of or in connection with this section.","sortOrder":141},{"sectionNumber":"Division 7","sectionType":"division","heading":"Amending Acts","content":"## Division 7 Amending Acts\n\nDivision 7 Amending Acts\n\n**pt 13, div 7 (s 96A):** Ins 1995 No 20, Sch 1 (27).","sortOrder":142},{"sectionNumber":"96A","sectionType":"section","heading":"Savings and transitional provisions for amending Acts","content":"#### 96A Savings and transitional provisions for amending Acts\n\n96A Savings and transitional provisions for amending Acts\n\n> Schedule 2 has effect.\n> \n> **pt 13, div 7 (s 96A):** Ins 1995 No 20, Sch 1 (27).","sortOrder":143},{"sectionNumber":"Division 8","sectionType":"division","heading":"Functions of Commonwealth authorities and officers of the Commonwealth","content":"## Division 8 Functions of Commonwealth authorities and officers of the Commonwealth\n\nDivision 8 Functions of Commonwealth authorities and officers of the Commonwealth\n\n**pt 13, div 8 (ss 96B, 96C):** Ins 2001 No 32, Sch 2.2 \\[20\\].","sortOrder":144},{"sectionNumber":"96B","sectionType":"section","heading":"Definitions","content":"#### 96B Definitions\n\n96B Definitions\n\n> In this Division—\n> \n> function includes a power.\n> \n> old corporations legislation has the same meaning as in the [Corporations (Ancillary Provisions) Act 2001](/view/html/inforce/current/act-2001-032).\n> \n> perform includes exercise.\n> \n> **pt 13, div 8 (ss 96B, 96C):** Ins 2001 No 32, Sch 2.2 \\[20\\].","sortOrder":145},{"sectionNumber":"96C","sectionType":"section","heading":"Functions of Commonwealth authorities and officers of the Commonwealth","content":"#### 96C Functions of Commonwealth authorities and officers of the Commonwealth\n\n96C Functions of Commonwealth authorities and officers of the Commonwealth\n\n> If a Commonwealth authority or an officer of the Commonwealth has a function expressed to be conferred on the authority or officer by or under the old corporations legislation, the authority or officer is not under a duty to perform that function.\n> \n> **pt 13, div 8 (ss 96B, 96C):** Ins 2001 No 32, Sch 2.2 \\[20\\].","sortOrder":146},{"sectionNumber":"Part 14","sectionType":"part","heading":"Provisions affecting Corporations Law","content":"# Part 14 Provisions affecting Corporations Law\n\nPart 14 Provisions affecting [Corporations Law](/view/html/inforce/current/sl-1999-0703)","sortOrder":147},{"sectionNumber":"97","sectionType":"section","heading":"Certain transfers by companies not to constitute reduction of share capital","content":"#### 97 Certain transfers by companies not to constitute reduction of share capital\n\n97 Certain transfers by companies not to constitute reduction of share capital\n\n> > (1) Where—\n> > \n> > > (a) land is comprised in a strata plan registered under the [Strata Schemes (Freehold Development) Act 1973](/view/html/repealed/current/act-1973-068) or in a plan of a prescribed kind under a prescribed Act, and\n> > \n> > > (b) at the time of registration of the plan, the proprietor of that land was a company,\n> > \n> > the transfer by the company of a lot on the strata plan (or of a prescribed unit or other entity on a plan) in exchange for or in satisfaction of a right of the kind referred to in section 195 (13) of the [Corporations Law](/view/html/inforce/current/sl-1999-0703), does not of itself constitute, and is to be taken never to have constituted, a reduction of the share capital of the company.\n> \n> > (2) Subsection (1) does not apply to a transfer made on or after the commencement of Schedule 1 \\[7\\] to the [Financial Sector Reform (New South Wales) Act 1999](/view/html/inforce/current/act-1999-001).\n> \n> **s 97:** Am 1996 No 139, Sch 2.9 (am 1997 No 55, Sch 1.28 \\[1\\]); 1999 No 1, Sch 1 \\[7\\].","sortOrder":148},{"sectionNumber":"Part 15","sectionType":"part","heading":"Amendment of Acts","content":"# Part 15 Amendment of Acts\n\nPart 15 Amendment of Acts","sortOrder":149},{"sectionNumber":"98","sectionType":"section","heading":null,"content":"#### 98\n\n98 (Repealed)","sortOrder":150},{"sectionNumber":"Schedule 1","sectionType":"schedule","heading":null,"content":"# Schedule 1\n\nSchedule 1 (Repealed)\n\n**sch 1:** Rep 1999 No 85, Sch 4.","sortOrder":152},{"sectionNumber":"Schedule 2","sectionType":"schedule","heading":"Savings and transitional provisions (amending Acts)","content":"# Schedule 2 Savings and transitional provisions (amending Acts)\n\nSchedule 2 Savings and transitional provisions (amending Acts)\n\n(Section 96A)\n\n**sch 2:** Ins 1995 No 20, Sch 1 (28). Am 2000 No 80, Sch 1.4 \\[45\\]–\\[47\\].","sortOrder":153}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"kimi_summary":{"_metrics":{"provider":"moonshot","completionTokens":1820},"content_quality":"ok","complexity_score":8,"scope_assessment":{"changed":true,"description":"The legislation has grown significantly beyond its original 1990 purpose of simply applying the Commonwealth Corporations Act 1989 as NSW law. It has accumulated extensive transitional machinery for multiple federal legislative overhauls (particularly the 2001 move to the Corporations Act 2001 and the 2024 Administrative Review Tribunal changes), complex savings provisions preserving old enforcement actions, and detailed jurisdictional protocols for court transfers. The Act now functions as a permanent administrative interface between state and federal legal systems, rather than a simple one-time adoption statute."},"complexity_factors":["Approximately 35 defined terms in section 3 alone, with recursive definitions (e.g., 'applicable provision' referencing other defined terms multiple times)","Extensive cross-referencing to Commonwealth legislation including the Corporations Act 1989, ASIC Act 1989, Administrative Review Tribunal Act 2024, and Evidence Act 1995","Complex jurisdictional cross-vesting arrangements allowing transfer of proceedings between State Supreme Courts, Federal Court, and Family Courts (sections 44, 44A, 44AA)","Multiple nested exceptions regarding Crown liability—different chapters bind different levels of government (Commonwealth vs State) in different ways (section 15)","Transitional provisions spanning three decades, dealing with the transition from 1981 Companies Code to 1990 National Scheme to 2001 Corporations Act (Part 13)","Conditional logic in fee imposition sections where fees are imposed by the section but calculated according to external regulations (sections 22-25)","Dual-application mechanisms treating state offences as Commonwealth offences for procedural purposes while maintaining state substantive law (sections 29-30)","Repealed and amended sections scattered throughout, requiring readers to reconstruct current law from amendment history notes"],"plain_english_summary":"This Act is the legal bridge that brings Australia's national corporations law into force in New South Wales. Instead of having separate state laws for companies, NSW applies the Commonwealth Corporations Act and the ASIC Act as if they were NSW laws—creating a single, uniform national scheme across all states.\n\n**What it does:**\n*   **Imports federal law:** It takes the Commonwealth Corporations Law and the ASIC Law (which regulate companies, securities, and financial services) and makes them binding NSW state laws (sections 7 and 58).\n*   **Sets up the referee:** It establishes which courts can hear corporate disputes—giving the NSW Supreme Court, Federal Court, and even courts of other states the power to hear cases about NSW companies (Part 9).\n*   **Crime and punishment:** It ensures that offences against corporations law can be prosecuted in NSW courts using NSW criminal procedure, even though the offences are technically federal offences (Part 8, Division 2).\n*   **Protects the Crown:** It carefully limits when the government itself (the Crown) can be sued or prosecuted under these laws—some chapters bind the government, others don't (Part 4).\n*   **Pays the bills:** It imposes fees and levies for things like stock exchange membership and company liquidations, sending the money to the Commonwealth (Part 7).\n\n**Who it affects:**\n*   Every company registered in NSW and their directors, officers, and shareholders.\n*   The Australian Securities and Investments Commission (ASIC), which investigates and enforces the law.\n*   Courts across Australia that might hear cases involving NSW companies.\n*   Anyone involved in securities exchanges or futures markets.\n\n**Why it matters:**\nBefore this Act, each state had its own companies law, creating a mess for businesses operating nationally. This Act (and similar ones in other states) created a 'cooperative scheme' where one set of rules applies everywhere, but states retain constitutional responsibility for regulating companies. It ensures that whether you're in Sydney or Melbourne, the same rules govern how companies behave, how they report finances, and what happens when they break the law."},"summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"Based on the available text, the Act appears to have remained true to its original purpose of facilitating NSW's participation in the national corporations law scheme. The only amendments noted are administrative name changes to reflect the renaming of the corporate regulator from the Australian Securities Commission to the Australian Securities and Investments Commission — these do not represent any change in scope or intent."},"complexity_factors":["Involves constitutional law concepts — specifically the referral of legislative power from a state to the Commonwealth — which are inherently abstract and technical","The Act's significance cannot be understood without knowledge of the broader national cooperative corporations law scheme and its history","Very little substantive text is available in this extract, making it difficult to assess the full content of the Act","The relationship between this NSW Act and the Commonwealth Corporations Act 2001 requires understanding of Australian federalism","Amendments updating regulatory body names (ASC to ASIC) add minor historical complexity","The Act appears largely dormant in practical terms but its continued legal existence has constitutional significance that is not obvious to a lay reader"],"plain_english_summary":"## Corporations (New South Wales) Act 1990\n\nThis Act is a piece of NSW state legislation that was originally designed to help NSW 'plug in' to the national system for regulating companies and corporations in Australia. Back in the late 1980s and early 1990s, Australia was moving from a patchwork of separate state-based company laws to a single, unified national system — and each state needed its own Act to hand over (or 'refer') its powers to the Commonwealth so that one national law could apply everywhere.\n\n**What does this actually do?**\nIn plain terms, this Act acts as NSW's 'handshake' with the Commonwealth's national corporations law framework. It allowed federal corporations legislation (like the Corporations Act 2001) to operate in NSW, and gave legal effect to the role of the national corporate regulator — now known as **ASIC (the Australian Securities and Investments Commission)** — within NSW.\n\n**Who does it affect?**\nIn practice, this Act affects almost anyone who owns, runs, invests in, or works for a company registered or operating in NSW — which is a very large portion of Australian businesses. However, most people would never need to read this Act directly; its practical effects flow through the national Corporations Act.\n\n**What's actually in this version?**\nThe text available here is largely administrative and historical metadata — it shows the Act exists, is still technically 'in force', and has had only minor amendments (mainly updating references from the old 'Australian Securities Commission' to the current 'ASIC'). The substantive provisions of the Act are not displayed in the provided text.\n\n**Why does it still exist?**\nDespite national corporations law being well established, this state Act may remain on the books to preserve the constitutional validity of the referral of powers and to handle any residual NSW-specific matters.\n\n**Bottom line:** This is largely a technical, behind-the-scenes Act that enabled NSW to participate in Australia's unified national company law system. It doesn't create everyday rights or obligations directly — it's constitutional plumbing that keeps the national corporations framework legally valid in NSW."},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":true,"description":"The current text records numerous amendments and additions that alter the Act’s reach compared with earlier versions. Examples in the text include additions that apply Commonwealth administrative laws and updated instruments (see s 3 amendments and the insertion of references to the Administrative Review Tribunal Act 2024 in s 3; insertion of s 36A construing references to the ART Act Part 7), changes to which Chapters bind the Crown (s 15(1A)), and the inclusion of section 42AA conferring Supreme Court jurisdiction in relation to certain prosecution decisions (s 42AA). The schedule and amendment notes (scattered amendment citations) indicate the Act has been adjusted over time to expand or clarify national enforcement, administrative law application and court-jurisdiction arrangements (see Parts 8, 9, 11 and the amendment notes referenced in multiple sections)."},"complexity_factors":["Extensive cross-references to Commonwealth Acts, Corporations Law and regulations (see s 3, Parts 2 and 11).","Dual application model: treating selected State provisions as if they were Commonwealth law for offences and administrative matters (ss 29–31, 35–37).","Detailed cross-vesting of jurisdiction across Federal, State and Territory courts with multiple transfer rules and limits (Part 9, esp. ss 42–45, 44A–44D, 44AA–44D).","Multiple institutional conferrals and overlapping powers for national bodies (Commission, Panel, Disciplinary Board) operating in State law (ss 66, 70, 71).","Regulation-making and transitional powers with time-limited savings and retrospective-protection provisions (s 80; ss 8(2)–(3), 85–91).","Intricate definitions and interpretive rules that import other Acts and administrative laws (s 3, ss 60–62).","Mix of civil, criminal and administrative procedures with specific evidence/crimes provisions applied (ss 74–75).","Numerous amendments, repeals and insertions noted in the text, increasing interpretive uncertainty about current scope (multiple amendment notes throughout)."],"plain_english_summary":"What this law does (mechanically)\n\n- The Act makes the Commonwealth Corporations Act/Corporations Law framework and parts of the ASIC Act operate as laws of New South Wales by applying those Commonwealth provisions (and certain regulations) to this State (see s 1(a), s 7, s 8, s 58, s 59).  It therefore imports large bodies of Commonwealth corporate, securities and futures law into NSW and declares how those imported laws are to be read and applied within the State (see Parts 2 and 11).\n\n- The Act gives effect to a national administration and enforcement model so that offences and administrative matters under the applicable (imported) provisions are treated, in many respects, as if they were Commonwealth laws (see s 26–31, s 35–37).  It also sets out how courts across jurisdictions share and transfer civil and criminal jurisdiction in corporations matters (Part 9, esp. ss 40–56 and Division 2).\n\n- The Act authorises the Australian Securities and Investments Commission (the Commission), the Corporations and Securities Panel (the Panel) and the Companies Auditors and Liquidators Disciplinary Board to exercise functions and powers in New South Wales under the national scheme or corresponding laws (see ss 66, 70, 71).  It preserves a role for State arrangements where specified (see ss 77–78, 91–92).\n\n- The Act prescribes who collects and receives money: fees and taxes are imposed as prescribed in the Corporations Regulations of NSW (s 22); certain levies and contributions (for exchange fidelity funds and the National Guarantee Fund) are imposed under specific sections (ss 23–25); fines and other monetary penalties (other than fees/taxes) collected under the applicable provisions must be paid to the Commonwealth (s 79).\n\n- The Governor may make regulations needed to carry the Act into effect, including transitional or saving provisions (s 80).  The Act contains transitional rules and savings for earlier cooperative-scheme laws and sets out how references to older bodies or codes are to be read (Part 13, esp. ss 85–91, 90, 96).\n\nWho is affected\n\n- Companies, officers of companies, market participants (securities and futures organisations and their members), auditors, liquidators and other persons subject to the Corporations Law or ASIC Law as applied in NSW (see Parts 2 and 11).\n\n- Courts and legal practitioners: the Act changes which courts have jurisdiction, how proceedings may be transferred across jurisdictions, which rules of procedure and evidence to apply, and it limits some appeal routes (Part 9, ss 42–51, 43, 44–45, 49–50).\n\n- Commonwealth and State authorities and their officers: the Act confers functions and powers on Commonwealth bodies (eg, the Commission) to operate in NSW and allows certain State/Commonwealth arrangements for enforcement or investigative powers (ss 31, 35–37, 66–68, 77, 91–92).\n\nWhy it matters (official purpose-claims and practical consequences)\n\n- The Act’s stated purpose is to make selected Commonwealth provisions and regulations operate as NSW law and to allow national administration and enforcement of corporate/securities law so the various State and Territory Corporations Laws operate “on a national basis” (see s 1(2)(a)–(b); s 26).  Practically, that means many corporate offences, investigations, regulatory decisions and civil remedies will be handled under a single national-style framework despite operating through NSW law.\n\n- Testing that claim against costs and trade-offs:\n  - Incentives and cost-bearing: firms and individuals subject to the Corporations Law of NSW face regulatory costs, including fees and levies imposed under ss 22–25, and potential fines whose receipts go to the Commonwealth (s 79).  That shifts monetary enforcement receipts away from State Treasury to the Commonwealth.\n  - Compliance burden: the Act brings Commonwealth investigative and examination powers into NSW (see Part 11 definitions and examination provisions, ss 60–61) and exposes regulated parties to administrative review and Commonwealth administrative law mechanisms (ss 35–37).  Those powers can increase compliance and legal costs for regulated entities.\n  - Bureaucratic discretion and decision-making: the Governor may make regulations for many matters (s 80).  Commonwealth bodies (the Commission, Panel, Disciplinary Board) are given functions and powers to act in NSW under the national scheme (ss 66, 70, 71).  Where Commonwealth laws are applied because of ss 29, 30, 35 or 36, officers must, where specified, act as nearly as practicable as they would in the Capital Territory (ss 31(4), 37(4)), and a provision removes ministerial direction power in those circumstances (ss 31(5), 37(5)).  Those features concentrate operational discretion in national bodies rather than purely State agencies.\n  - Trade-offs and implementation risk: treating State-applicable provisions as if they were Commonwealth laws (ss 29–30, 35–36) and cross-vesting substantial jurisdiction (Part 9) simplifies national enforcement but creates legal complexity at the interface of Commonwealth/State law—for example, which procedural rules apply in a transferred case (ss 45, 51) and the limits on appeals (s 49).  That raises risk of litigation over jurisdictional boundaries.\n  - Concentration of benefits/diffuse costs: national regulators (Commission, Panel) gain expanded operational scope in NSW (ss 66, 70), while regulated businesses and individuals across NSW bear additional compliance and levy costs (ss 22–25, s 79).  The Act also channels enforcement revenue to the Commonwealth (s 79).\n\nWho pays, who decides, and what behaviour changes (concrete mechanics)\n\n- Who pays: regulated persons pay fees and taxes set by the Corporations Regulations of NSW (s 22); applicants and members of exchanges/futures organisations pay specified contributions and levies under ss 23–25; fines/penalties payable under the applicable provisions are paid to the Commonwealth (s 79).\n\n- Who decides: the Governor makes regulations under s 80; the Minister for this jurisdiction is the State decision-maker referenced in the import rules (s 9) and must consent to certain application orders by the Commonwealth Minister (s 19).  The Commonwealth Minister and Commonwealth authorities exercise many investigatory, prosecutorial and regulatory functions in NSW when Commonwealth laws apply by operation of this Act (see ss 29–31, 35–37, 66).\n\n- Behaviour changes: entities operating in corporate, securities or futures markets must conform to the Corporations Law and ASIC Law as applied in NSW (Parts 2 and 11); they will face potential Commonwealth-style investigations and proceedings in NSW and may need to navigate cross-jurisdictional court transfers and rules (Part 9).  Regulated entities will likely change reporting, compliance, and legal strategies to respond to national regulator powers and fees/levies (ss 60–61; ss 22–25).\n\nImplementation, compliance and unintended-consequence risks (mechanism-focused)\n\n- Regulatory complexity: many provisions import, cross-reference and modify other laws and regulations (see the detailed definitions in s 3, the citation and reference provisions in Parts 3 and 11).  That complexity increases the cost of legal compliance and of interpreting rights/obligations.\n\n- Transitional and residual interactions: the Act preserves certain cooperative-scheme laws for pre-existing matters and enables regulations to modify or exclude residual operation of co-operative laws (ss 85–91, 86–88).  Those transitional arrangements create potential uncertainty about which regime governs specific historical matters.\n\n- Judicial coordination risk: cross-vesting and transfer powers (ss 42–45, 44A–44D, 44AA–44D series) are intended to concentrate or reallocate cases among courts, but they create factual and procedural choices for judges about transfers and applicable rules (ss 44B, 45), which can be a source of litigation over forum and process.\n\nKey statutory anchors (examples)\n\n- The Act’s objects: s 1(2) (apply Commonwealth provisions) and s 26 (national administration/enforcement).\n- Treatment of offences and administrative laws as Commonwealth laws: ss 28–31 (offences) and ss 34–37 (administrative law).\n- Fees and levies: ss 22–25, and payment of fines to Commonwealth: s 79.\n- Conferral of functions on national bodies: ss 66 (Commission), 70 (Panel), 71 (Disciplinary Board).\n- Court jurisdiction and transfer mechanics: Part 9 (ss 40–56, especially ss 42–44 and ss 45–51).\n- Regulation-making power and transitional rules: s 80 and Part 13 (ss 85–91, 96, etc.)."}},"importantCases":[],"_links":{"self":"/api/acts/corporations-new-south-wales-act-1990","history":"/api/acts/corporations-new-south-wales-act-1990/history","analysis":"/api/acts/corporations-new-south-wales-act-1990/analysis","conflicts":"/api/acts/corporations-new-south-wales-act-1990/conflicts","importantCases":"/api/acts/corporations-new-south-wales-act-1990/important-cases","documents":"/api/acts/corporations-new-south-wales-act-1990/documents"}}