Body Corporate and Community Management Act 1997
sec.3Purpose
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sec.3 Purpose
The purpose of this Act is to enact ancillary provisions, including transitional provisions, relating to the enactment by the Parliament of the Commonwealth of new corporations legislation and new ASIC legislation under its legislative powers, including powers with respect to matters referred to that Parliament for the purposes of section 51 (xxxvii) of the Commonwealth Constitution . The Corporations (Commonwealth Powers) Act 2001 refers 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 .