44Displacement and exclusion of Corporations legislation

44 Displacement and exclusion of Corporations legislation

44 Displacement and exclusion of Corporations legislation

(1) Corporations displacement provisions The following provisions of this Act are declared to be Corporations legislation displacement provisions for the purposes of section 5G of the Corporations Act in relation to the provisions of the Corporations legislation generally:

(a) section 6,

(b) section 9,

(c) section 10,

(d) Division 2 of Part 2,

(e) section 43,

(f) Schedule 1.

Note—

Section 5G of the Corporations Act enables a State to displace the operation of provisions of the Corporations legislation in favour of provisions of State laws that are declared under State law to be Corporations legislation displacement provisions for the purposes of that section. See, in particular, section 5G (4), (5), (9), (10) and (11) of the Corporations Act in relation to the displacements effected by this subsection.

(2) Declarations under section 5F of Corporations Act The regulations may declare any matter referred to in, or arising under or in connection with, this Act or the regulations to be an excluded matter for the purposes of section 5F of the Corporations Act 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 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, the provisions that are the subject of the declaration will not apply in relation to that matter in the State concerned.

(3) Further declarations under section 5G of Corporations Act The regulations may declare any provision of this Act (other than a provision referred to in subsection (1)) to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act (either generally or specifically in relation to a provision of the Corporations legislation).