sec.85National scheme laws prevail over cooperative scheme laws

### sec.85 National scheme laws prevail over cooperative scheme laws This section provides for the national scheme laws of this jurisdiction to supersede the cooperative scheme laws, which are to continue to operate of their own force only in relation to— matters arising before the commencement of this section; and matters arising, directly or indirectly, out of such matters; in so far as the national scheme laws or the Corporations legislation do not deal with those matters. Where a cooperative scheme law is inconsistent with a national scheme law of this jurisdiction, the national scheme law prevails and, to the extent of the inconsistency, the cooperative scheme law does not operate. For the purposes of subsection (2), a cooperative scheme law is inconsistent with a national scheme law if it would be inconsistent within the meaning of section 109 of the Constitution of the Commonwealth of Australia if the national scheme law were an Act of the Commonwealth. In this section— Corporations legislation means the Corporations legislation to which the Corporations Act 2001 (Cwlth), part 1.1A applies. s 85 amd 2001 No. 45 s 29 sch 2 (sec.85-ssec.1) This section provides for the national scheme laws of this jurisdiction to supersede the cooperative scheme laws, which are to continue to operate of their own force only in relation to— matters arising before the commencement of this section; and matters arising, directly or indirectly, out of such matters; in so far as the national scheme laws or the Corporations legislation do not deal with those matters. (sec.85-ssec.2) Where a cooperative scheme law is inconsistent with a national scheme law of this jurisdiction, the national scheme law prevails and, to the extent of the inconsistency, the cooperative scheme law does not operate. (sec.85-ssec.3) For the purposes of subsection (2), a cooperative scheme law is inconsistent with a national scheme law if it would be inconsistent within the meaning of section 109 of the Constitution of the Commonwealth of Australia if the national scheme law were an Act of the Commonwealth. (sec.85-ssec.4) In this section— Corporations legislation means the Corporations legislation to which the Corporations Act 2001 (Cwlth), part 1.1A applies. - (a) matters arising before the commencement of this section; and - (b) matters arising, directly or indirectly, out of such matters;