{"id":"sa:corporations-commonwealth-powers-act-2001","name":"Corporations (Commonwealth Powers) Act 2001","slug":"sa-corporations-commonwealth-powers-act-2001","collection":"act","jurisdiction":"sa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":438031,"registerId":"sa:corporations-commonwealth-powers-act-2001-seed-1775954626639-il61ja","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Corporations (Commonwealth Powers) Act 2001","content":"South Australia\nCorporations (Commonwealth Powers) Act 2001\nAn Act to refer certain matters relating to corporations and financial products and services to the Parliament of the Commonwealth for the purposes of section 51(xxxvii) of the Constitution of the Commonwealth.\n\nContents\n1\tShort title and purpose of Act\n3\tDefinitions\n4\tReference of matters\n5\tTermination of references\n6\tEarlier termination of reference by proclamation\n7\tEvidence\n8\tOperation of Act\nLegislative history\n\nThe Parliament of South Australia enacts as follows:\n1—Short title and purpose of Act\n\t(1)\tThis Act may be cited as the Corporations (Commonwealth Powers) Act 2001.\n\t(2)\tThe purpose of this Act is to refer certain matters relating to corporations and financial products and services to the Parliament of the Commonwealth for the purposes of section 51(xxxvii) of the Constitution of the Commonwealth, so as to enable that Parliament to make laws that apply of their own force in the State, instead of those matters being dealt with by the Corporations Law and other applied laws.\n\t(3)\tNothing in this Act is intended to enable the making of a law pursuant to the amendment reference with the sole or main underlying purpose or object of regulating industrial relations matters even if, but for this subsection, the law would be a law with respect to a matter referred to the Parliament of the Commonwealth by the amendment reference.\n3—Definitions\n\t(1)\tIn this Act—\namendment reference means the reference under section 4(1)(b);\ncommencement day means the day on which section 4(1) commences;\nCorporations instrument means any instrument made or issued under the Corporations legislation;\nCorporations legislation means Commonwealth Acts enacted in the terms, or substantially in the terms, of the tabled text and as in force from time to time;\nexpress amendment of the Corporations legislation means the direct amendment of the text of the Corporations legislation (whether by the insertion, omission, repeal, substitution or relocation of words or matter) by Commonwealth Acts, but does not include the enactment by a Commonwealth Act of a provision that has or will have substantive effect otherwise than as part of the text of the Corporations legislation;\ninitial reference means the reference under section 4(1)(a);\nprescribed termination day means the day on which both the references are to terminate as set out in section 5(1);\nreference means:\n\t(a)\tthe initial reference; or\n\t(b)\tthe amendment reference;\nreferred provisions means the tabled text to the extent to which that text deals with matters that are included in the legislative powers of the Parliament of the State;\ntabled text means the text of the following proposed Bills for Commonwealth Acts, comprised in two or more documents (each bearing identification as \"part of the tabled text\") as tabled by or on behalf of the Attorney General of New South Wales in the Legislative Assembly of New South Wales at any time during the period between the giving of notice of motion for leave to introduce the Bill for the Corporations (Commonwealth Powers) Act 2001 of that State in that Legislative Assembly and the second reading of that Bill in that Legislative Assembly:\n\t(a)\tCorporations Bill 2001;\n\t(b)\tAustralian Securities and Investments Commission Bill 2001.\n\t(2)\tIf a proclamation terminating the amendment reference alone has been published under section 6 and has not been revoked, the expression the references refers to the initial reference only.\n4—Reference of matters\n\t(1)\tThe following matters are referred to the Parliament of the Commonwealth:\n\t(a)\tthe matters to which the referred provisions relate, but only to the extent of the making of laws with respect to those matters by including the referred provisions in Acts enacted in the terms, or substantially in the terms, of the tabled text (including laws containing provisions that authorise the making of Corporations instruments that affect the operation of the Corporations legislation, otherwise than by express amendment); and\n\t(b)\tthe matters of the formation of corporations, corporate regulation and the regulation of financial products and services, but only to the extent of the making of laws with respect to those matters by making express amendments of the Corporations legislation (including laws inserting or amending provisions that authorise the making of Corporations instruments that affect the operation of the Corporations legislation, otherwise than by express amendment).\n\t(2)\tThe reference of a matter under subsection (1) has effect only—\n\t(a)\tif and to the extent that the matter is not included in the legislative powers of the Parliament of the Commonwealth (otherwise than by a reference under section 51(xxxvii) of the Constitution of the Commonwealth); and\n\t(b)\tif and to the extent that the matter is included in the legislative powers of the Parliament of the State.\n\t(3)\tThe operation of each paragraph of subsection (1) is not affected by the other paragraph.\n\t(4)\tFor the avoidance of doubt, it is the intention of the Parliament of the State that—\n\t(a)\tthe Corporations legislation may be expressly amended, or have its operation otherwise affected, at any time on or after the commencement day by provisions of Commonwealth Acts the operation of which is based on legislative powers that the Parliament of the Commonwealth has apart from the references; and\n\t(b)\tthe Corporations legislation may have its operation affected, otherwise than by express amendment, at any time on or after the commencement day by provisions of Corporations instruments; and\n\t(c)\tthe references are not made subject to any condition relating to—\n\t(i)\tthe express amendment or affecting of the Corporations legislation by provisions referred to in paragraph (a); or\n\t(ii)\tthe affecting of the Corporations legislation by provisions referred to in paragraph (b).\n\t(5)\tDespite any other provision of this section, a reference has effect for a period—\n\t(a)\tbeginning at the beginning of the commencement day; and\n\t(b)\tending at the beginning of the day on which it terminates as set out in section 5,\nbut not longer.\n5—Termination of references\n\t(1)\tSubject to earlier termination under this section, the references terminate on the day that is the 30th anniversary of the day of commencement of the Corporations legislation.\n\t(2)\tBoth the references terminate on a day that is earlier than the prescribed termination day if the Governor fixes that earlier day by proclamation under section 6 as the day on which the references terminate.\n\t(3)\tThe amendment reference alone terminates on a day that is earlier than the prescribed termination day if the Governor fixes that earlier day by proclamation under section 6 as the day on which the amendment reference terminates.\n\t(4)\tIf the amendment reference terminates before the initial reference, the termination of the amendment reference does not affect—\n\t(a)\tlaws that were made under the amendment reference before that termination but have not come into operation before that termination; or\n\t(b)\tthe continued operation in the State of the Corporations legislation as in operation immediately before that termination or as subsequently amended or affected by—\n\t(i)\tlaws referred to in paragraph (a); or\n\t(ii)\tprovisions referred to in section 4(4)(a) or (b).\n\t(5)\tFor the purposes of subsection (4)—\n\t(a)\tthe laws referred to in subsection (4)(a) include Corporations instruments; and\n\t(b)\tthe reference in subsection (4)(b) to the Corporations legislation as in operation immediately before the termination of the amending reference includes that legislation as affected by Corporations instruments that have come into operation before that time.\n6—Earlier termination of reference by proclamation\n\t(1)\tThe Governor may, at any time, by proclamation published in the Gazette, fix a day that is earlier than the prescribed termination day as the day on which—\n\t(a)\tthe references terminate; or\n\t(b)\tthe amendment reference terminates.\n\t(2)\tThe day fixed under subsection (1) must be no earlier than the first day after the end of the period of 6 months beginning with the day on which the proclamation is published under that subsection.\n\t(3)\tThe Governor may, by proclamation published in the Gazette, revoke a proclamation published under subsection (1), in which case the revoked proclamation is taken (for the purposes of section 5) never to have been published.\n\t(4)\tA revoking proclamation has effect only if published before the day fixed under subsection (1).\n\t(5)\tThe revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.\n7—Evidence\n\t(1)\tA certificate of the Clerk of the Legislative Assembly of New South Wales certifying that a document is an accurate copy of the tabled text, or is an accurate copy of a particular part or of particular provisions of the tabled text, is admissible in evidence in any proceedings and is evidence—\n\t(a)\tof the matter certified; and\n\t(b)\tthat the text of proposed Commonwealth Bills was tabled in the Legislative Assembly of New South Wales as referred to in the definition of tabled text in section 3.\n\t(2)\tSubsection (1) does not affect any other way in which the tabling or content of the tabled text, or the accuracy of a copy of the tabled text or of a part or provisions of the tabled text, may be established.\n8—Operation of Act\nThis Act has effect despite any provision of the Corporations (South Australia) Act 1990 or of the applicable provisions (as defined in that Act) of the State.\nLegislative history\nNotes\n\t•\tAmendments of this version that are uncommenced are not incorporated into the text.\n\t•\tPlease note—References in the legislation to other legislation or instruments or to titles of bodies or offices are not automatically updated as part of the program for the revision and publication of legislation and therefore may be obsolete.\n\t•\tEarlier versions of this Act (historical versions) are listed at the end of the legislative history.\n\t•\tFor further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au.\nPrincipal Act and amendments\nNew entries appear in bold.\nYear\nNo\nTitle\nAssent\nCommencement\n2001\n21\nCorporations (Commonwealth Powers) Act 2001\n14.6.2001\n21.6.2001 (Gazette 21.6.2001 p2270)\n2001\n23\nStatutes Amendment (Corporations) Act 2001\n14.6.2001\nPt 11 (ss 69 & 70)—uncommenced\n2005\n59\nCorporations (Commonwealth Powers) (Extension of Period of References) Amendment Act 2005\n1.12.2005\n12.6.2006 (Gazette 25.5.2006 p1454)\n2011\n17\nCorporations (Commonwealth Powers) (Termination Day) Amendment Act 2011\n26.5.2011\n23.6.2011 (Gazette 23.6.2011 p2696)\n2016\n22\nCorporations (Commonwealth Powers) (Termination Day) Amendment Act 2016\n2.6.2016\n2.6.2016\n2021\n24\nCorporations (Commonwealth Powers) (Termination Day) Amendment Act 2021\n17.6.2021\n17.6.2021\nProvisions amended\nNew entries appear in bold.\nEntries that relate to provisions that have been deleted appear in italics.\nProvision\nHow varied\nCommencement\ns 1\n\n\ns 1(3)\nsubstituted by 23/2001 s 69\nuncommenced—not incorporated\ns 1(4)\ninserted by 23/2001 s 69\nuncommenced—not incorporated\ns 2\nomitted under Legislation Revision and Publication Act 2002\n12.6.2006\ns 5\n\n\ns 5(1)\namended by 59/2005 s 4\n12.6.2006\n\namended by 17/2011 s 4\n23.6.2011\n\namended by 22/2016 s 3\n2.6.2016\n\namended by 24/2021 s 3\n17.6.2021\nHistorical versions\n12.6.2006\n\n23.6.2011\n\n2.6.2016\n\n","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose: referring corporate and financial services regulatory powers to the Commonwealth. The amendments shown in the legislative history (2005, 2011, 2016, 2021) merely extend the termination date (the 'sunset clause'), which is consistent with maintaining the original referral mechanism rather than expanding its scope. The carve-out in section 1(3) regarding industrial relations actually narrows the scope slightly from what might otherwise be possible, ensuring the referral is not used for unrelated purposes."},"complexity_factors":["Nested conditional logic in section 4(1) with two distinct referral mechanisms (initial vs amendment) operating independently per section 4(3)","8 defined terms in section 3, including recursive definitions ('reference' referring to initial or amendment reference)","Temporal complexity: multiple interacting time periods (commencement day, prescribed termination day, 30-year sunset, 6-month notice period for early termination)","Cross-references to external constitutional provision (s 51(xxxvii) of the Commonwealth Constitution) and to proposed NSW legislation ('tabled text')","Conditional operation clauses in section 4(2) limiting referral effect to matters not already within Commonwealth power","Complex termination mechanics in sections 5-6 with bifurcated termination options (both references vs amendment reference alone) and saving provisions in section 5(4)-(5)","Interaction with prior legislation (Corporations (South Australia) Act 1990) addressed in section 8"],"plain_english_summary":"This South Australian Act refers state powers to the Commonwealth so the federal Parliament can enact and amend a single Corporations Act and related financial‑services laws, enabling uniform national regulation of companies, investors and consumers. It forbids using the referral primarily for industrial‑relations purposes, includes a 30‑year sunset (repeatedly extended), and allows the SA Governor to terminate the referral with six months' notice."},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"The core referral scope (matters described in the tabled text and express amendments of the Corporations legislation) remains intact, but the practical period of the references has been altered multiple times by subsequent State amendments extending or changing the termination day (see amendment Acts in the legislative history: 2005, 2011, 2016, 2021). These amendments adjust the duration and timing of the referral without altering the textual criteria that define what matters are referred (s5; legislative history)."},"complexity_factors":["Dual-layer referral structure: separate 'initial reference' and 'amendment reference' with distinct coverage (definitions and s4(1)(a)-(b)).","Narrow textual limitation: scope tied to the 'tabled text' and to 'express amendment' of the Corporations legislation, requiring textual comparison to determine coverage (definitions, s3, s4).","Interplay with non-referential Commonwealth powers: allows Commonwealth laws based on other powers to affect Corporations legislation concurrently (s4(4)(a)).","Governorial discretion over early termination by proclamation, subject to timing constraints and revocation rules (s6(1)-(4)).","Long but finite duration with staged termination outcomes and savings for laws already made or instruments in operation (s5, s5(4)-(5)).","Delegated instruments: effect may arise via Corporations instruments authorised by Commonwealth Acts rather than only by express statutory amendment (s4(1)(a), s4(1)(b)).","Evidentiary simplification through certified copies of the tabled text, which affects litigation and administrative proof (s7).","Primacy clause: Act operates despite conflicting State Corporations Act provisions, creating legal hierarchy issues to resolve in practice (s8)."],"plain_english_summary":"This Act refers certain corporate and financial regulatory matters from South Australia to the Commonwealth Parliament under section 51(xxxvii), so Commonwealth Acts (including authorised Corporations instruments) can operate in the State in place of the previously applied Corporations Law (s1(2), s4).  The Commonwealth makes laws under the referral; the Governor may end the references early by proclamation (s6); affected corporations and service providers must comply with any new Commonwealth laws or instruments, and the references otherwise expire 30 years after commencement (s5)."}},"importantCases":[],"_links":{"self":"/api/acts/sa-corporations-commonwealth-powers-act-2001","history":"/api/acts/sa-corporations-commonwealth-powers-act-2001/history","analysis":"/api/acts/sa-corporations-commonwealth-powers-act-2001/analysis","conflicts":"/api/acts/sa-corporations-commonwealth-powers-act-2001/conflicts","importantCases":"/api/acts/sa-corporations-commonwealth-powers-act-2001/important-cases","documents":"/api/acts/sa-corporations-commonwealth-powers-act-2001/documents"}}