sec.23APower to make interim regulations construing certain references in Acts

sec.23A Power to make interim regulations construing certain references in Acts

The Governor in Council may make a regulation providing that an affected reference in any Act is to be construed as set out in the regulation. The Minister may recommend the making of a regulation under subsection (1) only if he or she considers that— each substantive provision of the proposed regulation is necessary as a consequence of the enactment, or proposed enactment, by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act ; and subject to subsection (3) , the proposed regulation does not deal with any other matter. A regulation made under this section may deal with matters of a transitional nature (including matters of an application or savings nature) consequent on the enactment of the amending Act referred to in subsection (2) (a) . Section 27 (7) and (8) enable a provision of the regulation made under this section to have effect from a time that is earlier than the day on which it is made. A regulation made under this section has effect according to its tenor. A regulation made under this section expires 1 year after it is made. In this section— affected reference means— a reference in an Act to a provision of the new ASIC Act or the new Corporations Act ; or a reference in an Act to a term, expression or concept defined or used in the new ASIC Act or the new Corporations Act ; that is, or is to be, affected in any way by the enactment or proposed enactment by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act . s 23A ins 2003 No. 4 s 9 (sec.23A-ssec.1) The Governor in Council may make a regulation providing that an affected reference in any Act is to be construed as set out in the regulation. (sec.23A-ssec.2) The Minister may recommend the making of a regulation under subsection (1) only if he or she considers that— each substantive provision of the proposed regulation is necessary as a consequence of the enactment, or proposed enactment, by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act ; and subject to subsection (3) , the proposed regulation does not deal with any other matter. (sec.23A-ssec.3) A regulation made under this section may deal with matters of a transitional nature (including matters of an application or savings nature) consequent on the enactment of the amending Act referred to in subsection (2) (a) . Section 27 (7) and (8) enable a provision of the regulation made under this section to have effect from a time that is earlier than the day on which it is made. (sec.23A-ssec.4) A regulation made under this section has effect according to its tenor. (sec.23A-ssec.5) A regulation made under this section expires 1 year after it is made. (sec.23A-ssec.6) In this section— affected reference means— a reference in an Act to a provision of the new ASIC Act or the new Corporations Act ; or a reference in an Act to a term, expression or concept defined or used in the new ASIC Act or the new Corporations Act ; that is, or is to be, affected in any way by the enactment or proposed enactment by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act .