AGL Corporate Conversion Act 2002
42Exclusion of Corporations legislation that applies to registered AGL as federal law
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42 Exclusion of Corporations legislation that applies to registered AGL as federal law
42 Exclusion of Corporations legislation that applies to registered AGL as federal law
(1) Application of section This section enables the regulations to exclude the operation of provisions of the Corporations legislation that would otherwise apply to registered AGL (or a matter relating to registered AGL) as a law of the Commonwealth.
(2) Declarations under section 5F of Corporations Act 2001 The regulations may declare any matter relating to registered AGL (other than a declared matter) to be an excluded matter for the purposes of section 5F of the Corporations Act 2001 of the Commonwealth in relation to—
(a) the whole of the Corporations legislation, or
(b) a specified provision of that legislation, or
(c) that legislation other than a specified provision, or
(d) that legislation otherwise than to a specified extent.
Note—
Section 5F of the Corporations Act 2001 of the Commonwealth provides that if a State law declares a matter to be an excluded matter for the purposes of that section in relation to all or part of the Corporations legislation of the Commonwealth, the provisions that are the subject of the declaration will not apply in relation to that matter in the State concerned.
(3) Declarations under section 5G of Corporations Act 2001 The regulations may declare any provision of this Act relating to registered AGL (other than a declared provision) to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act 2001 of the Commonwealth (either generally or specifically in relation to a provision of the Corporations legislation).
Note—
Section 5G of the Corporations Act 2001 of the Commonwealth provides that if a State law declares a provision of a State law to be a Corporations legislation displacement provision, any provision of the Corporations legislation with which the State provision would otherwise be inconsistent does not apply to the extent necessary to avoid the inconsistency.
(4) Definitions In this section—