139Relationship of Act to Corporations legislation

139 Relationship of Act to Corporations legislation (1) The provisions of Division 1 (insofar as they relate to statutory managers) and Division 2 are declared to be an excluded matter for the purposes of section 5F of the Corporations Act in relation to the provisions of Part 5.2 of that Act. Section 5F of the Corporations Act provides that if a State law declares a provision of a State law to be an excluded matter in relation to specified provisions of the Corporations legislation, the specified provisions of the Corporations legislation do not apply in the State in relation to that matter. (2) The provisions of Division 1 (insofar as they relate to receivers) and Division 3 are declared to be Corporations legislation displacement provisions for the purposes of section 5G of the Corporations Act. Section 5G of the Corporations Act 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. (3) The regulations may declare any matter relating to a licensee that is a company that is prohibited, required, authorised or permitted by or under this Act or the regulations to be an excluded matter for the purposes of section 5F of the Corporations Act. (4) The regulations may declare any provision of this Act or the regulations relating to a licensee that is a company to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act.