28Corporatised AGL authorised to issue public documents and negotiable instruments with AGL’s existing ARBN

28 Corporatised AGL authorised to issue public documents and negotiable instruments with AGL’s existing ARBN

28 Corporatised AGL authorised to issue public documents and negotiable instruments with AGL’s existing ARBN

(1) Corporatised AGL is authorised to publish or sign in any place any public document or negotiable instrument even if the document or instrument does not comply with section 601DE (1) (b) of the Corporations Act 2001 of the Commonwealth if—

(a) the expression “Australian Registered Body Number” or “ARBN” followed by AGL’s existing ARBN is set out instead of the information specified by section 601DE (1) (b), and

(b) the other provisions of section 601DE are complied with.

(2) Subsection (1) is declared to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act 2001 of the Commonwealth in relation to the provisions of section 601DE of that Act.

Note—

Section 5G (4) of the Corporations Act 2001 of the Commonwealth provides that a provision of the Corporations legislation does not—

(a) prohibit the doing of an act, or

(b) impose a liability (whether civil or criminal) for doing an act,

if a provision of a law of a State or Territory specifically authorises or requires the doing of that act.

However, section 5G (3) of that Act provides that section 5G will only apply to a provision of a law of a State or Territory enacted after the commencement of that Act if a law of the State or Territory declares the provision to be a Corporations legislation displacement provision for the purposes of that section.

(3) Subsections (1) and (2) cease to apply to corporatised AGL on the registration day. However, nothing in this subsection affects the previous operation of this section in relation to corporatised AGL.

(4) In this section, AGL’s existing ARBN means the ARBN of AGL immediately before the conversion day.