sec.5Corresponding provision

sec.5 Corresponding provision

For this Act, a provision (the old provision ) of the old corporations legislation or the old ASIC legislation corresponds to a provision (the new provision ) of the new corporations legislation or the new ASIC legislation (and vice versa) if— the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or a regulation specifies that the 2 provisions correspond. For this Act, a provision (the old provision ) of a previous State corporations law corresponds to a provision (the new provision ) of a national scheme law of this jurisdiction (and vice versa) if— the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or a regulation specifies that the 2 provisions correspond. For subsection (1) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same— the fact that— the old provision allowed a court to exercise powers on its own initiative or motion but the new provision does not; or the old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or the new provision requires ASIC to take account of public interest but the old provision did not; other differences that are attributable to the fact that the new corporations legislation and the new ASIC legislation apply as Commonwealth laws in this and other States and in the internal Territories. For subsection (1) (a) or (2) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same— differences in the numbering of the provisions; differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references); the fact that one of the provisions refers to a corresponding previous law and the other does not; other differences of a kind prescribed under a regulation for this paragraph. Subsections (3) and (4) are not intended to otherwise limit the circumstances in which 2 provisions are, for subsection (1) (a) or (2) (a) , substantially the same. s 5 (6) exp 30 June 2003 (see s 28(1)) (sec.5-ssec.1) For this Act, a provision (the old provision ) of the old corporations legislation or the old ASIC legislation corresponds to a provision (the new provision ) of the new corporations legislation or the new ASIC legislation (and vice versa) if— the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or a regulation specifies that the 2 provisions correspond. (sec.5-ssec.2) For this Act, a provision (the old provision ) of a previous State corporations law corresponds to a provision (the new provision ) of a national scheme law of this jurisdiction (and vice versa) if— the old provision and the new provision are substantially the same, unless a regulation specifies that the 2 provisions do not correspond; or a regulation specifies that the 2 provisions correspond. (sec.5-ssec.3) For subsection (1) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same— the fact that— the old provision allowed a court to exercise powers on its own initiative or motion but the new provision does not; or the old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or the new provision requires ASIC to take account of public interest but the old provision did not; other differences that are attributable to the fact that the new corporations legislation and the new ASIC legislation apply as Commonwealth laws in this and other States and in the internal Territories. (sec.5-ssec.4) For subsection (1) (a) or (2) (a) , differences of all or any of the following kinds are not enough to mean that 2 provisions are not substantially the same— differences in the numbering of the provisions; differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references); the fact that one of the provisions refers to a corresponding previous law and the other does not; other differences of a kind prescribed under a regulation for this paragraph. (sec.5-ssec.5) Subsections (3) and (4) are not intended to otherwise limit the circumstances in which 2 provisions are, for subsection (1) (a) or (2) (a) , substantially the same.