NORTHERN TERRITORY OF AUSTRALIA
CORPORATIONS REFORM (NORTHERN TERRITORY) ACT 2001
As in force at 10 February 2026
Table of provisions
Part 1 Preliminary
1 Short title ......................................................................................... 1
2 Commencement .............................................................................. 1
3 Purpose ........................................................................................... 1
4 Definitions ........................................................................................ 1
5 Corresponding provision .................................................................. 6
6 Operation of Act............................................................................... 8
Part 2 Repeal
7 Repeal of Acts ................................................................................. 8
8 Extinguishing rights and liabilities, and terminating
proceedings, dealt with by new Corporations legislation ................. 8
Part 3 Transitional provisions
Division 1 Transitional arrangements for national
scheme laws
9 Certain provisions of Northern Territory law taken to operate
despite national scheme law.......................................................... 10
10 Court proceedings and orders ....................................................... 11
11 Existing rules of court continue to have effect ............................... 12
12 References in Acts or instruments to old corporations
legislation or old ASIC legislation .................................................. 13
13 References to companies incorporated in a State or Territory....... 15
Division 2 Transitional arrangements for co-operative
scheme laws
14 Definition........................................................................................ 17
15 Winding up started before commencement ................................... 17
16 Companies Liquidation Account .................................................... 18
17 General .......................................................................................... 18
Division 3 Functions etc. of Commonwealth agencies in
relation to transitional arrangements for
national scheme laws
18 Definitions ...................................................................................... 19
Corporations Reform (Northern Territory) Act 2001 ii
19 Continuing functions etc. of Commonwealth agencies under
national scheme laws .................................................................... 21
Part 4 Application of Commonwealth
Corporations legislation to Territory
matters
20 Definitions ...................................................................................... 21
21 Northern Territory provisions to which this Part applies ................. 22
22 Effect of declaratory provisions...................................................... 22
23 Modifications to applied law ........................................................... 23
24 Conferral of functions on ASIC ...................................................... 24
25 Conferral of functions on Northern Territory courts........................ 24
26 Implied application of regulations and other provisions of
Corporations legislation ................................................................. 24
27 Proceedings for offences ............................................................... 25
28 Application of Corporations legislation by other means ................. 26
Part 5 General
29 Rules of the Supreme Court .......................................................... 26
30 ASIC has certain functions and powers ......................................... 27
31 Regulations.................................................................................... 27
Schedule 1 Repealed Acts
Schedule 2 Table
ENDNOTES
CORPORATIONS REFORM (NORTHERN TERRITORY) ACT 2001
An Act to enact ancillary provisions relating to the enactment by the
Parliament of the Commonwealth of new corporations legislation and
new ASIC legislation and for other purposes
Part 1 Preliminary
1 Short title
This Act may be cited as the Corporations Reform (Northern
Territory) Act 2001.
2 Commencement
This Act comes into operation on the day on which, but immediately
before, the Corporations Act 2001 (Cth) commences.
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 Constitution of the Commonwealth.
Note: The Corporations (Northern Territory Request) Act 2001 requests the
Parliament of the Commonwealth to enact legislation in respect of certain matters
relating to corporations and financial products and services.
4 Definitions
(1) In this Act:
applicable provision of the Northern Territory means a provision
of:
(a) the old Corporations Law or the old Corporations Regulations;
(b) the old ASIC Law or the old ASIC Regulations; or
Part 1 Preliminary
Corporations Reform (Northern Territory) Act 2001 2
(c) a Commonwealth law as applying because an Act in relation
to:
(i) an offence against; or
(ii) an act, matter or thing arising under or in respect of,
a provision that, because of any other application or
applications of this definition, is an applicable provision of the
Northern Territory, a State of the Commonwealth or the
Australian Capital Territory and the Jervis Bay Territory.
ASIC means the Australian Securities and Investments
Commission.
carried over provision:
(a) of the old corporations legislation means a provision of that
legislation that:
(i) was in force immediately before the relevant time; and
(ii) corresponds to a provision of the new corporations
legislation; and
(b) of the old ASIC legislation means a provision of that legislation
that:
(i) was in force immediately before the relevant time; and
(ii) corresponds to a provision of the new ASIC legislation.
co-operative scheme law means any of the following laws:
(a) Companies (Application of Laws) Act 1986;
(b) Companies (Northern Territory) Code;
(c) Companies (Acquisition of Shares)(Application of Laws)
Act 1986;
(d) Companies (Acquisition of Shares) (Northern Territory) Code;
(e) Companies and Securities (Interpretation and Miscellaneous
Provisions) (Application of Laws) Act 1986;
(f) Companies and Securities (Interpretation and Miscellaneous
Provisions) (Northern Territory) Code;
(g) Securities Industry (Application of Laws) Act 1986;
Part 1 Preliminary
Corporations Reform (Northern Territory) Act 2001 3
(h) Securities Industry (Northern Territory) Code;
(i) Futures Industry (Application of Laws) Act 1986;
(j) Futures Industry (Northern Territory) Code.
Corporations Law of the Northern Territory means the
Corporations Law set out in section 82 of the Corporations Act 1989
(Cth) applying as a law of the Northern Territory under section 7 of
the old application Act.
corresponds derives its meaning from the meaning of a
corresponding provision in section 5.
instrument includes an instrument of a legislative or administrative
character.
liability includes a duty or obligation.
made includes issued, given or published.
national scheme law of this jurisdiction means:
(a) the Corporations (Northern Territory) Act 1990;
(b) the old Corporations Law; or
(c) the old ASIC Law.
new ASIC Act means the Australian Securities and Investments
Commission Act 2001 (Cth).
new ASIC legislation means:
(a) the new ASIC Act;
(b) the new ASIC Regulations (as amended and in force from
time to time) and any other regulations made under the new
ASIC Act;
(c) the laws of the Commonwealth referred to in paragraph (a)(ii)
and (in relation to the Northern Territory) paragraph (b)(iii) of
the definition of old ASIC legislation in section 254(1) of the
new ASIC Act, being those laws as they apply after the
relevant time; and
(d) the preserved instruments.
new ASIC Regulations means the old ASIC Regulations that,
because of section 264 of the new ASIC Act, have effect as if they
were made under section 251 of that Act.
Part 1 Preliminary
Corporations Reform (Northern Territory) Act 2001 4
new Corporations Act means the Corporations Act 2001 (Cth).
new corporations legislation means:
(a) the new Corporations Act;
(b) the new Corporations Regulations (as amended and in force
from time to time) and any other regulations made under the
new Corporations Act;
(c) the laws of the Commonwealth referred to (in relation to the
Northern Territory) in paragraph (c) of the definition of old
corporations legislation in section 1371(1) of the new
Corporations Act, being those laws as they apply after the
relevant time; and
(d) the preserved instruments.
new Corporations Regulations means the old Corporations
Regulations that, because of section 1380 of the new Corporations
Act, have effect as if they were made under section 1364 of that
Act.
old application Act means the Corporations (Northern Territory)
Act 1990 as in force from time to time before the relevant time.
old ASIC Act means the Australian Securities and Investments
Commission Act 1989 (Cth) as in force from time to time before the
relevant time.
old ASIC Law means the old ASIC Act, other than the excluded
provisions specified in section 58(2) of the old application Act, from
time to time applying before the relevant time as the ASIC Law of
the Northern Territory within the meaning of section 58 of the old
Application Act.
old ASIC legislation means:
(a) the old ASIC Law and the old ASIC Regulations, and any
instruments made under that Law or those Regulations;
(b) the old application Act, and any instruments made under that
Act, as applying in relation to the old ASIC Law and the old
ASIC Regulations from time to time before the relevant time;
and
(c) the laws of the Commonwealth as applying in relation to the
old ASIC Law and the old ASIC Regulations from time to time
before the relevant time as laws of, or for the government of,
the Northern Territory because of Part 8 of the old application
Part 1 Preliminary
Corporations Reform (Northern Territory) Act 2001 5
Act, and any instruments made under those laws as so
applying.
old ASIC Regulations means the regulations in force under
section 251 of the old ASIC Act applying from time to time before
the relevant time as the ASIC Regulations of the Northern Territory
within the meaning of section 59 of the old application Act.
old Corporations Law means the Corporations Law of the
Northern Territory as in force from time to time, before the relevant
time.
old corporations legislation means:
(a) the old Corporations Law and the old Corporations
Regulations, and any instruments made under that Law or
those Regulations;
(b) the old application Act, and any instruments made under that
Act, as applying in relation to the old Corporations Law and
the old Corporations Regulations from time to time before the
relevant time; and
(c) the laws of the Commonwealth as applying in relation to the
old Corporations Law and the old Corporations Regulations
from time to time before the relevant time as laws of, or for the
government of, the Northern Territory because of Part 8 of the
old application Act, and any instruments made under those
laws as so applying.
old Corporations Regulations means the regulations in force
under section 22 of the Corporations Act 1989 (Cth) applying from
time to time before the relevant time as the Corporations
Regulations of the Northern Territory within the meaning of section
8 of the old application Act.
order, in relation to a court, includes any judgment, conviction or
sentence of the court.
preserved instrument means:
(a) in relation to the new corporations legislation – an instrument
that, because of section 1399 of the new Corporations Act,
has effect after the relevant time as if it were made under a
provision of the new corporations legislation; and
(b) in relation to the new ASIC legislation – an instrument that,
because of section 275 of the new ASIC Act, has effect after
the relevant time as if it were made under a provision of the
new ASIC legislation.
Part 1 Preliminary
Corporations Reform (Northern Territory) Act 2001 6
previous Northern Territory corporations law means:
(a) the Companies Act 1963;
(b) the Marketable Securities Act 1971;
(c) a co-operative scheme law; or
(d) any other Act, or provision of an Act, specified by the
regulations under subsection (2).
provision of a law includes any portion of the law.
referring State has the same meaning as in section 4 of the new
Corporations Act.
relevant time means the time when the new Corporations Act, as
originally enacted, comes into operation.
right includes an interest or status.
(2) The Regulations may provide that a specified Act, or a specified
provision of an Act, is a previous Northern Territory corporations
law for the purposes of this Act.
5 Corresponding provision
(1) For the purposes of this Act, a provision (the old provision) of the
old corporations legislation or the old ASIC legislation corresponds
to a provision (the new provision) the new corporations legislation
or the new ASIC legislation (and vice versa) if:
(a) the old provision and the new provision are substantially the
same, unless the Regulations specify that the 2 provisions do
not correspond; or
(b) the Regulations specify that the 2 provisions correspond.
(2) For the purposes of this Act, a provision (the old provision) of a
previous Northern Territory corporations law corresponds to a
provision (the new provision) of a national scheme law of this
jurisdiction (and vice versa) if:
(a) the old provision and the new provision are substantially the
same, unless the regulations specify that the 2 provisions do
not correspond; or
(b) the regulations specify that the 2 provisions correspond.
Part 1 Preliminary
Corporations Reform (Northern Territory) Act 2001 7
(3) For the purposes of subsection (1)(a) or (2)(a), differences of all or
any of the following kinds are not sufficient to mean that
2 provisions are not substantially the same:
(a) differences in the numbering of the provisions;
(b) differences of a minor technical nature (for example,
differences in punctuation, or differences that are attributable
to the correction of incorrect cross references);
(c) the fact that one of the provisions refers to a corresponding
previous law and the other does not;
(d) for the purposes of subsection (1)(a), the fact that:
(i) the old provision allowed a court to exercise powers on
its own motion but the new provision does not;
(ii) 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
(iii) the new provision requires ASIC to take account of
public interest but the old provision did not;
(e) for the purposes of subsection (1)(a), other differences that
are attributable to the fact that the new corporations legislation
and the new ASIC legislation apply as Commonwealth laws in
the Northern Territory and the States and other Territories of
the Commonwealth;
(f) other differences of a kind prescribed by the Regulations for
the purposes of this paragraph.
(4) Subsection (3) is not intended to otherwise limit the circumstances
in which 2 provisions are, for the purposes of subsection (1)(a)
or (2)(a), substantially the same.
(5) The Regulations may provide that:
(a) a specified provision of the old corporations legislation does,
or does not, correspond to a specified provision of the new
corporations legislation;
(b) a specified provision of the old ASIC legislation does, or does
not, correspond to a specified provision of the new ASIC
legislation; or
Part 2 Repeal
Corporations Reform (Northern Territory) Act 2001 8
(c) a specified provision of a previous Northern Territory
corporations law does, or does not, correspond to a specified
provision of a national scheme law of this jurisdiction.
6 Operation of Act
This Act has effect despite any provision of the old application Act
or of an applicable provision of the Northern Territory.
Part 2 Repeal
7 Repeal of Acts
(1) The Acts specified in Schedule 1 are repealed.
(2) The effect of the repeal of a national scheme law of this jurisdiction
under subsection (1) is that which would have resulted had this Act
and that law been Commonwealth Acts in relation to which the Acts
Interpretation Act 1901 (Cth) as in force on 1 November 2000
applied.
Note: Part III of the Acts Interpretation Act 1901 (Cth) contains provisions dealing
with the effect of the repeal of an Act. These provisions protect accrued rights
and liabilities and allow legal proceedings in respect of them to be commenced or
continued. However, this section and section 9 have the effect of cancelling
certain rights and liabilities and terminating certain legal proceedings.
8 Extinguishing rights and liabilities, and terminating
proceedings, dealt with by new Corporations legislation
(1) If, by force of:
(a) Chapter 10 of the new Corporations Act; or
(b) Part 16 of the new ASIC Act,
a person acquires, accrues or incurs a right or liability in substitution
for a pre-commencement right or liability, the pre-commencement
right or liability is cancelled at the relevant time.
(2) A proceeding in a court that:
(a) was started before the relevant time;
(b) was:
(i) under a provision of the old corporations legislation or
the old ASIC legislation; or
Part 2 Repeal
Corporations Reform (Northern Territory) Act 2001 9
(ii) brought as, or connected with, a prosecution for an
offence against a provision of the old corporations
legislation or the old ASIC legislation;
(c) was a proceeding to which section 1383 of the new
Corporations Act or section 267 of the new ASIC Act applies;
and
(d) had not been concluded or terminated before the relevant
time,
is terminated at the relevant time.
(3) If, by force of a Commonwealth Act (other than the new
Corporations Act) referred to in section 1393 to 1396 (inclusive) of
the new Corporations Act, a person becomes liable to pay an
amount that is the same as, and is in respect of the same matter
as, an amount (pre-commencement amount) that was payable by
the person before the relevant time under a provision of the old
corporations legislation, the person's liability to pay the
pre-commencement amount is cancelled at the relevant time.
(4) This section has effect despite Part III of the Acts Interpretation
Act 1901 (Cth) as in force on 1 November 2000.
(5) In this section, pre-commencement right or liability means a right
or liability, whether civil or criminal, other than a right or liability
under an order made by a court before the relevant time or a
liability referred to in subsection 1397(4) of the new Corporations
Act, that:
(a) was acquired, accrued or incurred under:
(i) a carried over provision of the old corporations
legislation or the old ASIC legislation; or
(ii) a provision of the old corporations legislation or the old
ASIC legislation that was no longer in force immediately
before the relevant time; and
(b) was in existence immediately before the relevant time.
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 10
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme
laws
9 Certain provisions of Northern Territory law taken to operate
despite national scheme law
(1) Any provision of a relevant law of the Northern Territory that:
(a) makes (or, if not in force, would make on coming into force)
provision in relation to a matter in a manner that is
inconsistent with a provision or provisions of a national
scheme law of this jurisdiction; or
(b) but for the operation of section 5 of the old application Act
would have made (or, if not in force, would have made on
coming into force) provision in relation to a matter in a manner
that is inconsistent with a provision or provisions of a national
scheme law of this jurisdiction,
is declared by this subsection to have effect despite the provision or
provisions of the national scheme law of this jurisdiction with which
it is inconsistent and as if the relevant law, or (in the case of a
relevant law that is not an Act) the Act under which the relevant law
was made, had itself provided expressly for this outcome.
Note: Section 5G of the new Corporations Act only applies to a provision of a
Northern Territory law that is inconsistent with a provision of the Corporations
legislation to which Part 1.1A of that Act applies if that provision operated,
immediately before the commencement of that Act, despite the provision of the
old Corporations Law or the old ASIC Law that corresponds to the
Commonwealth provision.
(2) Any provision of a relevant law of the Northern Territory that
provides that the whole of a previous Northern Territory
corporations law or a specified provision of a previous Northern
Territory corporations law does not apply to a matter is declared by
this subsection to also provide that the whole of the old
Corporations Law and the old ASIC Law or the corresponding
provision (if any) of the old Corporations Law or the old ASIC Law
(as the case requires) does not apply to that matter.
Note: Under section 5F(4) of the new Corporations Act if the old Corporations
Law or the old ASIC law, or a provision of that Law, did not apply to a matter
immediately before the commencement of that Act, then the Corporations
legislation to which Part 1.1A of that Act applies, or the corresponding provision
of that legislation, does not apply to the matter.
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 11
(3) Subsection (1) or (2) does not apply to a provision of a relevant law
of the Northern Territory (or a class of provisions of relevant laws of
the Northern Territory) specified by the Regulations as a provision
(or class of provisions) to which the subsection does not apply.
(4) For the purposes of subsection (1), a provision of a relevant law of
the Northern Territory is inconsistent with a provision of a national
scheme law of this jurisdiction 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 and the provision of the relevant law were a law of
a State of the Commonwealth.
(5) Nothing in this section affects the operation of section 6 of the old
application Act in relation to an Act enacted before the
commencement of that section or an instrument made under such
an Act.
(6) In this section:
matter includes act, omission, body, person or thing.
relevant law of the Northern Territory means a law of the
Northern Territory enacted or made before the relevant time
(whether or not it is in force before that time) other than a national
scheme law of this jurisdiction or a previous Northern Territory
corporations law.
10 Court proceedings and orders
(1) This section applies to a proceeding, whether criminal or civil, in
relation to which the following paragraphs are satisfied:
(a) the proceeding was started in a court before the relevant time;
(b) the proceeding was:
(i) under a provision of the old corporations legislation or
the old ASIC legislation; or
(ii) brought as, or connected with, a prosecution for an
offence against a provision of the old corporations
legislation or the old ASIC legislation;
(c) the proceeding was not a proceeding to which section 1383
or 1384 of the new Corporations Act or section 267 or 268 of
the new ASIC Act applies;
(d) the proceeding had not been concluded or terminated before
the relevant time.
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 12
(2) Without limiting section 7 but subject to subsection (3), a
proceeding to which this section applies may be continued, and any
order made by a court in such a proceeding may be appealed
against, reviewed or enforced as if section 7 had not been enacted
and the new corporations legislation and the new ASIC legislation
had not commenced.
(3) Nothing in this Part, section 7, the Regulations or the Acts
Interpretation Act 1901 (Cth) as in force on 1 November 2000
operates to preserve the effect of an order to which section 1383(5)
of the new Corporations Act or section 267(5) of the new ASIC Act
applies and, at the relevant time, that order ceases to have effect
as an order of the court by which it was made and any proceeding
in relation to such an order is terminated.
(4) To avoid doubt, Part 9 of the old application Act continues to have
the same application to a proceeding to which this section applies
as it did before the relevant time.
(5) In this section, proceeding includes:
(a) a proceeding by way of appeal against, or otherwise seeking
review of, an order made by a court;
(b) a proceeding to enforce an order made by a court; and
(c) any other proceeding in respect of a breach of an order made
by a court.
11 Existing rules of court continue to have effect
The rules of court made under section 51 of the old application Act
and all other enabling powers, as in force immediately before the
relevant time, continue to have effect (and may be dealt with) at
and after the relevant time as if:
(a) they were rules of court in force under section 29; and
(b) they were made for the purposes of the provisions of the
corporations legislation (within the meaning of section 29) that
correspond to the provisions of the old Corporations Law for
which they were made.
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 13
12 References in Acts or instruments to old corporations
legislation or old ASIC legislation
(1) Subject to subsections (2) and (3), a reference in, or taken
immediately before the relevant time to be in, an Act, an instrument
made under an Act or a law applying as a law of the Northern
Territory by force of an Act to:
(a) a law, regulations or instrument specified in column 1 of the
table in Schedule 2 is taken, at and after the relevant time, to
include a reference to the Act, regulations or instrument of the
kind specified opposite it in column 2 of the table; or
(b) a provision or group of provisions of a law, regulations or
instrument of a kind specified in column 1 of the table in
Schedule 2 is taken, at and after the relevant time, to include a
reference to the corresponding provision or provisions (if any)
of the Act, regulations or instrument specified opposite it in
column 2 of the table.
(2) The Regulations may:
(a) provide that subsection (1) does not apply in relation to
prescribed references or references of a prescribed kind:
(i) in prescribed Acts or instruments made under Acts;
(ii) in prescribed laws applying as laws of the Northern
Territory by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws applying
as laws of the Northern Territory by force of an Act, of a
prescribed kind; or
(b) provide that subsection (1) applies in relation to prescribed
references or references of a prescribed kind:
(i) in prescribed Acts or instruments made under Acts; or
(ii) in prescribed laws applying as laws of the Northern
Territory by force of an Act; or
(iii) in Acts, instruments made under an Act, or laws applying
as laws of the Northern Territory by force of an Act, of a
prescribed kind,
as if, in that subsection, the words to be a reference were
substituted for the words to include a reference.
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 14
(3) Subsection (1) does not apply in relation to references in, or taken
immediately before the relevant time to be in:
(a) the old application Act or an applicable provision of the
Northern Territory;
(b) a previous Northern Territory corporations law or an
instrument made under a previous Northern Territory
corporations law;
(c) this Act or the Regulations;
(d) the Corporations Reform (Consequential Amendments NT)
Act 2001;
(e) the Interpretation Act 1978;
(f) any other Act, or any provision of an Act, or any kind of Act or
provision of an Act, specified by the Regulations;
(g) an instrument made under an Act, or any provision of an
instrument made under an Act, or any kind of instrument made
under an Act or provision of an instrument made under an Act,
specified by the Regulations; or
(h) a law applying as a law of the Northern Territory by force of an
Act, or any provision of a law applying as a law of the Northern
Territory by force of an Act, or any kind of a law applying as a
law of the Northern Territory by force of an Act or provision of
a law applying as a law of the Northern Territory, specified by
the Regulations.
(4) For the purposes of this Act, the Regulations may provide that a
reference of a specified kind in, or taken immediately before the
relevant time to be in, a specified Act or instrument made under an
Act or a specified law applying as a law of the Northern Territory by
force of an Act is to be taken to be the reference of the kind
specified in relation to the reference in the Regulations.
(5) An express reference in an Act, an instrument made under an Act
or a law applying a law of the Northern Territory by force of an Act
to:
(a) an Act, regulations or other instrument forming part of the new
corporations legislation or the new ASIC legislation; or
(b) a provision or group of provisions of such an Act, regulations
or other instrument,
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 15
is taken, in relation to events, circumstances or things that
happened or arose at a time before the relevant time, to include
(unless the contrary intention appears or the context of the
reference otherwise requires) a reference to the corresponding
provision or provisions of the old corporations legislation, or the old
ASIC legislation (as the case requires) of this jurisdiction and of
each other jurisdiction referred to in sections 12(2) and (3)
and 64(2) and (3) of the old application Act.
(6) The Regulations may:
(a) provide that subsection (5) does not apply in relation to
prescribed references or references of a prescribed kind:
(i) in prescribed Acts or instruments made under Acts; or
(ii) in prescribed laws applying as laws of the Northern
Territory by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws applying
as laws of the Northern Territory by force of an Act, of a
prescribed kind; or
(b) provide that subsection (5) applies in relation to prescribed
references or references of a prescribed kind:
(i) in prescribed Acts or instruments made under Acts;
(ii) in prescribed laws applying as laws of the Northern
Territory by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws applying
as laws of the Northern Territory by force of an Act, of a
prescribed kind,
as if, in that subsection, the words "of a jurisdiction specified
by the regulations" were substituted for the words "of this
jurisdiction and of each other jurisdiction referred to in
sections 12(2) and (3) and 64(2) and (3) of the old application
Act".
13 References to companies incorporated in a State or Territory
(1) Unless the contrary intention appears and subject to
subsections (2) and (4), a reference (however expressed) in, or
taken immediately before the relevant time to be in, an Act, an
instrument made under an Act or a law applying as a law of the
Northern Territory by force of an Act to:
Part 3 Transitional provisions
Division 1 Transitional arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 16
(a) a company (within the meaning of the Corporations Law of the
Northern Territory or of a State or another Territory of the
Commonwealth) incorporated in the Northern Territory or that
State or other Territory;
(b) a company that is incorporated under the Corporations Law of
the Northern Territory or of a State or another Territory of the
Commonwealth;
(c) a company that is registered or taken to be registered under
the Corporations Law of the Northern Territory or of a State or
another Territory of the Commonwealth; or
(d) a body that is taken to be registered as a company under the
Corporations Law of the Northern Territory or of a State or
another Territory of the Commonwealth,
is taken, after the relevant time, to be a reference to a company
that, under section 119A or 1378(4) of the new Corporations Act, is
taken to be registered in the Northern Territory or that State or other
Territory, as the case requires.
(2) Unless the contrary intention appears and subject to subsection (4),
a reference (however expressed) in, or taken immediately before
the relevant time to be in, an Act, an instrument made under an Act
or a law applying as a law of the Northern Territory by force of an
Act to a foreign company (within the meaning of the Corporations
Law of the Northern Territory or of a State or another Territory of
the Commonwealth) is taken, after the relevant time, to be a
reference to a foreign company within the meaning of the new
Corporations Act.
(3) Unless the contrary intention appears and subject to subsection (4),
a reference (however expressed) in, or taken immediately before
the relevant time to be in, an Act, an instrument made under an Act
or a law applying as a law of the Northern Territory by force of an
Act to the jurisdiction of incorporation of a corporation, being a
company registered or taken to be registered under the
Corporations Law of the Northern Territory or of a State or another
Territory of the Commonwealth, is taken, after the relevant time, to
be a reference to the State or Territory in which the corporation is
taken to be registered under section 119A or 1378(4) of the new
Corporations Act.
(4) The Regulations may:
(a) provide that subsection (1), (2) or (3) does not apply in relation
to prescribed references, or references of a prescribed kind:
(i) in prescribed Acts or instruments made under Acts;
Part 3 Transitional provisions
Division 2 Transitional arrangements for co-operative scheme laws
Corporations Reform (Northern Territory) Act 2001 17
(ii) in prescribed laws applying as laws of the Northern
Territory by force of an Act; or
(iii) in Acts, instruments made under Acts or laws applying
as laws of the Northern Territory by force of an Act, of a
prescribed kind; or
(b) provide that subsection (1), (2) or (3) applies in relation to
prescribed references or references of a prescribed kind:
(i) in prescribed Acts or instruments made under Acts;
(ii) in prescribed laws applying as laws of the Northern
Territory by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws applying
as laws of the Northern Territory by force of an Act, of a
prescribed kind,
as if, in that subsection, the words "to include a reference" were
substituted for the words "to be a reference".
Division 2 Transitional arrangements for co-operative
scheme laws
14 Definition
In this Division, Corporations Law commencement means
1 January 1991 (which is the day the Corporations (Northern
Territory) Act 1990 commenced).
15 Winding up started before commencement
(1) The provisions of the new Corporations Act with respect to winding
up do not apply to any body corporate whose winding up was
started before the Corporations law commencement.
(2) If a body corporate's winding up started before the Corporations
Law commencement under a law in force in the Northern Territory:
(a) the body corporate is to be wound up in the same manner,
and with the same incidents, as if the Companies Act 1981
(Cth) had not been repealed and the Corporations Act 1989
(Cth) had not been enacted; and
(b) for the purposes of the winding up, the Companies Act 1981
(Cth) applies, with such modifications as the circumstances
require, as if a reference in that Act to the NCSC were, except
in relation to a time before that commencement, a reference to
the ASIC.
Part 3 Transitional provisions
Division 2 Transitional arrangements for co-operative scheme laws
Corporations Reform (Northern Territory) Act 2001 18
16 Companies Liquidation Account
(1) In this section, relevant money means:
(a) money that, immediately before the Corporations Law
commencement, stood to the credit of the Companies
Liquidation Account established by section 428 of the
Companies Act 1981 (Cth); and
(b) money that, after the Corporations Law commencement, was
or is paid into the Companies Liquidation Account under the
provisions of the Companies Act 1981 (Cth) that were taken to
continue in force after the Corporations Law commencement
for the purposes of windings up started before that
commencement.
(2) Relevant money is to be dealt with in accordance with section 427
of the Companies Act 1981 (Cth).
17 General
(1) If, immediately before the commencement of the new Corporations
Act, an Act that is a co-operative scheme law repealed under
section 7 and that applied to a matter in the Northern Territory, that
Act:
(a) continues to apply to that matter after that commencement
despite its repeal; and
(b) if that Act applied to that matter immediately before that
commencement with particular modifications – continues to
apply to the matter with the same modifications.
(2) For the purposes of subsection (1), if a company was dissolved
before the Corporations Law commencement, the Companies
Act 1981 (Cth) is taken to have applied to the dissolution
immediately before the commencement of the new Corporations
Act.
Part 3 Transitional provisions
Division 3 Functions etc. of Commonwealth agencies in relation to transitional
arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 19
Division 3 Functions etc. of Commonwealth agencies in
relation to transitional arrangements for national
scheme laws
18 Definitions
In this Division:
authority, in relation to the Commonwealth, includes:
(a) a body corporate, or an unincorporated body, established for a
public purpose by or in accordance with an Act of the
Commonwealth;
(b) the Administrative Review Tribunal established by the
Administrative Review Tribunal Act 2024 (Cth);
(c) the Australian Federal Police; and
(d) any other court, tribunal or authority established by or in
accordance with an Act of the Commonwealth.
non-federal proceeding means:
(a) a proceeding in relation to which:
(i) sections 1383(1)(a), (b) and (d) of the Corporations
Act 2001 are satisfied but section 1383(1)(e) of that Act
is not satisfied; or
(ii) sections 267(1)(a), (b) and (d) of the Australian
Securities and Investments Commission Act 2001 (Cth)
are satisfied but section 267(1)(e) of that Act is not
satisfied;
(b) an enforcement proceeding, or an appeal or review
proceeding, in relation to an order of a court made before the
commencement in relation to a proceeding that was:
(i) under a provision of the old corporations legislation;
(ii) brought as, or connected with, a prosecution for an
offence against a provision of the old corporations
legislation;
(iii) under a provision of the old ASIC legislation; or
(iv) brought as, or connected with, a prosecution for an
offence against a provision of the old ASIC legislation; or
Part 3 Transitional provisions
Division 3 Functions etc. of Commonwealth agencies in relation to transitional
arrangements for national scheme laws
Corporations Reform (Northern Territory) Act 2001 20
(c) an enforcement proceeding, or an appeal or review
proceeding, in relation to an order of a court made after the
commencement in relation to a proceeding referred to in
paragraph (a).
officer, in relation to the Commonwealth, includes:
(a) a Minister of the Commonwealth;
(b) a person holding:
(i) an office established by or under an Act of the
Commonwealth;
(ii) an appointment made under an Act of the
Commonwealth; or
(iii) an appointment made by the Governor-General or a
Minister of the Commonwealth but not under an Act;
(c) a member or special member of the Australian Federal Police;
(d) the Director of Public Prosecutions within the meaning of the
Director of Public Prosecutions Act 1983 (Cth);
(e) the Commonwealth Ombudsman within the meaning of the
Ombudsman Act 1976 (Cth);
(f) the Privacy Commissioner appointed under the Privacy
Act 1988 (Cth);
(g) a Special Prosecutor appointed under the Special Prosecutors
Act 1982 (Cth);
(h) any other person who is a member or officer of an authority of
the Commonwealth; and
(i) any other person who is in the service or employment of the
Commonwealth, or of an authority of the Commonwealth, or is
employed or engaged under an Act of the Commonwealth.
transitional national scheme function or power means a
function or power in relation to a non-federal proceeding that is
expressed to be conferred by or under a law of the Northern
Territory.
Part 4 Application of Commonwealth Corporations legislation to Territory matters
Corporations Reform (Northern Territory) Act 2001 21
19 Continuing functions etc. of Commonwealth agencies under
national scheme laws
(1) Commonwealth authorities and officers:
(a) have the transitional national scheme powers and functions;
and
(b) may perform the functions and exercise the powers imposed
and conferred on them by virtue of Division 1.
(2) A Commonwealth authority or officer:
(a) is not subject to any directions in relation to the performance
or exercise of a transitional national scheme function or
power; and
(b) is not under a duty to perform or exercise a transitional
national scheme function or power.
(3) Subsection (2) does not apply to ASIC.
Part 4 Application of Commonwealth Corporations
legislation to Territory matters
20 Definitions
In this Part:
applied law means a provision or provisions of the Corporations
legislation, or of an Act, regulations or other instrument forming part
of the Corporations legislation, that this Part applies to a matter as if
the provision or provisions were a law or laws of the Northern
Territory.
confer includes impose.
Corporations legislation means the Corporations legislation to
which Part 1.1A of the new Corporations Act applies.
declaratory provision means a provision of a law of the Northern
Territory to which this Division applies by operation of section 21.
function includes a power.
matter includes act, omission, body, person or thing.
modification includes addition, exception, omission or substitution.
perform includes exercise.
Part 4 Application of Commonwealth Corporations legislation to Territory matters
Corporations Reform (Northern Territory) Act 2001 22
21 Northern Territory provisions to which this Part applies
(1) This Part applies to a provision of a law of the Northern Territory if
the provision declares a matter to be an applied Corporations
legislation matter for the purposes of this Part in relation to any of
the following (whether with or without modifications):
(a) the whole of the Corporations legislation;
(b) a specified Act, regulations or other instrument forming part of
the Corporations legislation;
(c) a specified provision or provisions of the Corporations
legislation or of an Act, regulations or other instrument forming
part of the Corporations legislation.
(2) Subsection (1) does not apply to a provision of a law of the
Northern Territory to the extent that it declares a matter to be an
applied Corporations legislation matter for the purposes of this Part
in relation to a provision or provisions of the Corporations
legislation, or of an Act, regulations or other instrument forming part
of the Corporations legislation, that already applies to the matter as
a law of the Commonwealth.
22 Effect of declaratory provisions
(1) Subject to this Part, a declaratory provision has effect in relation to
a matter as follows:
(a) if the declaratory provision is one to which section 21(1)(a)
applies – the whole of the Corporations legislation applies to
the matter as if it were a law of the Northern Territory;
(b) if the declaratory provision is one to which section 21(1)(b)
applies – the Act, regulations or other instrument specified by
the declaratory provision applies or apply to the matter as if it
or they were a law or laws of the Northern Territory;
(c) if the declaratory provision is one to which section 21(1)(c)
applies – the provision or provisions specified by the
declaratory provision applies or apply in relation to the matter
as if it or they were a law or laws of the Northern Territory.
(2) A provision applied to a matter by a declaratory provision, or taken
by force of section 26(1) to apply to the matter, is applied as in
force for the time being unless the declaratory provision applies it
as in force at a particular time specified by the declaratory
provision.
Part 4 Application of Commonwealth Corporations legislation to Territory matters
Corporations Reform (Northern Territory) Act 2001 23
23 Modifications to applied law
(1) This Part operates to apply a provision of the Corporations
legislation, or of an Act, regulations or other instrument forming part
of the Corporations legislation, as a law of the Northern Territory
subject to the following modifications:
(a) any modifications specified by or under the law containing the
declaratory provision;
(b) a reference to ASIC is (unless a function under an applied law
is conferred on ASIC as referred to in section 24) taken to be
a reference to:
(i) the Minister administering the declaratory provision or
another person (or person belonging to a class of
persons) specified by the Regulations (whether generally
or in relation to a particular applied law); or
(ii) any other person specified by or under the declaratory
provision;
(c) a reference to the Gazette is a reference to the Gazette as
defined in section 18 of the Interpretation Act 1978;
(d) a reference to the Minister is a reference to the Minister
administering the declaratory provision;
(e) a reference to this jurisdiction is a reference to the Northern
Territory;
(f) any other modifications that are necessary or that are
prescribed by Regulations made under this Act, whether
generally or in relation to a particular applied law.
(2) Any power to make regulations under an Act containing a
declaratory provision extends to the making of regulations
specifying modifications for the purposes of this Part.
(3) Except as provided by subsection (1), definitions and other
interpretation provisions of the Corporations legislation, or of the
Act, regulations or other instrument forming part of the Corporations
legislation, relevant to the applied law are taken also to apply to the
matter that is the subject of the declaratory provision.
(4) This section has effect subject to sections 24 to 27 (inclusive).
Part 4 Application of Commonwealth Corporations legislation to Territory matters
Corporations Reform (Northern Territory) Act 2001 24
24 Conferral of functions on ASIC
(1) Neither a declaratory provision nor an applied law operates to
confer a function on ASIC in relation to the applied law unless:
(a) the declaratory provision provides for ASIC to perform that
function pursuant to an agreement or arrangement of the kind
referred to in section 11(8) or (9A)(b) of the new ASIC Act;
and
(b) ASIC is authorised to perform that function under section 11 of
the new ASIC Act.
(2) If a declaratory provision operates to confer a function on ASIC in
relation to an applied law, the conferral of that function is taken not
to impose a duty to perform that function despite anything to the
contrary in the applied law.
25 Conferral of functions on Northern Territory courts
An applied law that confers a function or duty on a court or on the
Court is taken to confer that function or duty (along with the
jurisdiction to exercise that function or duty) on the Supreme Court
or such other court of the Northern Territory specified by or under
the declaratory provision.
26 Implied application of regulations and other provisions of
Corporations legislation
(1) Unless a declaratory provision provides otherwise, the following
provisions of the Corporations legislation, or of an Act, regulations
or other instrument forming part of the Corporations legislation, are
also taken to apply to a matter that is the subject of a declaratory
provision as if they were laws of the Northern Territory:
(a) the provisions of any regulations made under the applied law;
(b) any provision of the Corporations legislation, or of an Act,
regulations or other instrument forming part of the
Corporations legislation, that creates an offence in relation to
a contravention of the applied law or specifies the penalty for
an offence created by a provision of the applied law;
(c) the provisions of Part 9.4B (Civil consequences of
contravening civil penalty provisions) of the new Corporations
Act for the purposes of any provision of the applied law that is
a civil penalty provision within the meaning of that Part.
Part 4 Application of Commonwealth Corporations legislation to Territory matters
Corporations Reform (Northern Territory) Act 2001 25
(2) The Regulations may prescribe modifications (whether generally or
in relation to a particular applied law) of any of the provisions that
are also taken to apply to a matter by force of subsection (1) for the
purposes of that application.
27 Proceedings for offences
(1) Proceedings for an offence against an applied law may be dealt
with as an offence against a law of the Northern Territory.
(2) For the purposes of an offence against an applied law:
(a) the amount of a penalty unit specified in relation to that
offence by the applied law, or a provision taken by force of
section 26(1) to apply to the matter that is the subject of the
declaratory provision, is $100; and
(b) the laws of the Northern Territory apply in relation to that
offence as if the applied law, or a provision taken by force of
section 26(1) to apply to the matter that is the subject of the
declaratory provision, were a law or laws of the Northern
Territory.
(3) Without limiting subsection (2)(b), the laws of the Northern Territory
referred to in that subsection as applying in relation to an offence
include laws with respect to:
(a) the investigation and prosecution of offences;
(b) the arrest, custody, bail, trial, finding of guilt and conviction of
persons charged with offences;
(c) proceedings relating to a matter referred to in paragraph (a)
or (b);
(d) the classification of offences as indictable or summary;
(e) appeals and reviews relating to criminal proceedings and to
proceedings of the kind referred to in paragraph (c);
(f) the sentencing, punishment and release of persons found
guilty or convicted of offences;
(g) fines, penalties and forfeitures; and
(h) confiscation of the proceeds of crime.
Part 5 General
Corporations Reform (Northern Territory) Act 2001 26
28 Application of Corporations legislation by other means
Nothing in this Part prevents a law of the Northern Territory from
applying any provision of the Corporations legislation, or of an Act,
regulations or other instrument forming part of the Corporations
legislation, as a law of the Northern Territory otherwise than by
means of a declaratory provision.
Part 5 General
29 Rules of the Supreme Court
(1) The Judges of the Supreme Court of the Northern Territory or a
majority of them may make rules of court:
(a) with respect to proceedings, and the practice and procedure,
of that Court under the Corporations legislation;
(b) with respect to any matter or thing that is:
(i) required or permitted by the Corporations legislation to
be prescribed by rules within the meaning of the
Corporations legislation; or
(ii) necessary or convenient to be prescribed by such rules
for carrying out or giving effect to the Corporations
legislation; and
(c) without limitation, with respect to costs, and with respect to
rules as to meetings ordered by that Court.
(2) When a lower court of the Northern Territory is exercising
jurisdiction with respect to matters arising under the Corporations
legislation, the court must apply the rules of court made under
subsection (1), with such alterations as are necessary.
(3) In this section:
Corporations legislation means:
(a) the new Corporations Act;
(b) the new ASIC Act; and
(c) the regulations made under the new Corporations Act and the
new ASIC Act.
Part 5 General
Corporations Reform (Northern Territory) Act 2001 27
30 ASIC has certain functions and powers
(1) The Minister, or a person authorised in writing by the Minister, may
enter into an agreement or arrangement with ASIC for the
performance of functions or the exercise of powers by ASIC as an
agent of the Northern Territory, even if those functions or powers
are conferred on another person or body by or under a law of the
Northern Territory.
(2) An agreement or arrangement of a kind referred to in subsection (1)
has effect by force of this section despite any provision of a law of
the Northern Territory with respect to any function or power that is
the subject of the agreement or arrangement.
Note: Section 11(9) of the new ASIC Act provides that ASIC has, but is not under
a duty to perform, the functions and powers that are the subject of the agreement
or arrangement with the Northern Territory.
31 Regulations
(1) The Administrator may make regulations, not inconsistent with this
Act, prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or
giving effect to this Act.
(2) Without limiting subsection (1), the Regulations may provide that
certain provisions of Part 2 are taken to be modified as set out in
the Regulations (and those provisions then have effect as if they
were so modified).
(3) Without limiting subsection (1), the Regulations may amend
regulations made under another Act, rules and by-laws, but only if
the amendment is consequential on the enactment, or proposed
enactment, by the Parliament of the Commonwealth of:
(a) the old ASIC Act;
(b) the Corporations Act 1989 (Cth);
(c) an Act amending an Act specified to in paragraph (a) or (b);
(d) the new ASIC Act; or
(e) the new Corporations Act.
Part 5 General
Corporations Reform (Northern Territory) Act 2001 28
(4) Without limiting subsection (1), the Regulations may:
(a) declare a matter to be an excluded matter for the purposes of
section 5F of the new Corporations Act in relation to:
(i) the whole of the Corporations legislation to which
Part 1.1A of that Act applies;
(ii) a specified provision of that legislation;
(iii) that legislation other than a specified provision; or
(iv) that legislation otherwise than to a specified extent; and
(b) declare a provision of a law of the Northern Territory, or a
provision of a law of the Northern Territory as amended as
specified in the Regulations, to be a Corporations legislation
displacement provision for the purposes of section 5G of the
new Corporations Act (either generally or specifically in
relation to a provision of the Corporations legislation to which
Part 1.1A of that Act applies).
(5) Without limiting subsection (1), the Regulations may make provision
for or with respect to enabling jurisdiction conferred by or under the
old corporations legislation or the old ASIC legislation or a previous
Northern Territory corporations law to be exercised by a court of the
Northern Territory, or confirming that such jurisdiction is exercisable
by a court of the Northern Territory, including (without limitation)
provisions for or with respect to:
(a) conferring jurisdiction on courts of the Northern Territory;
(b) the construction of references in the old corporations
legislation or the old ASIC legislation or a previous Northern
Territory corporations law to Commonwealth authorities and
officers;
(c) the disapplication of provisions of the old corporations
legislation or the old ASIC legislation or a previous Northern
Territory corporations law, including provisions that
contemplate the administration or enforcement of laws as if
they were Commonwealth laws or that contemplate offences
and other matters as being offences against and matters
under Commonwealth laws;
(d) the treatment of offences arising under the old corporations
legislation or the old ASIC legislation or a previous Northern
Territory corporations law (including the specification of
penalties);
Part 5 General
Corporations Reform (Northern Territory) Act 2001 29
(e) prescribing modifications of the old corporations legislation or
the old ASIC legislation or a previous Northern Territory
corporations law; and
(f) associated procedural and consequential matters.
(6) Without limiting subsection (1), the Regulations may deal with
matters of a transitional nature that relate to:
(a) the transition from the application of provisions of the old
corporations legislation or a previous Northern Territory
corporations law to the application of provisions of the new
corporations legislation or the new ASIC legislation; and
(b) the repeal of an Act under section 7,
and, in so doing, the Regulations may:
(c) provide for the appointment by the Minister of a person
(whether by name, by reference to an office, position or
designation held by a person or by reference to a person
holding, acting in or performing the duties of an office, position
or designation) to be a person who may, in relation to an
event, circumstance or thing that happened or arose before
the commencement of section 7, exercise a power or perform
a function conferred or imposed on the Commissioner for
Corporate Affairs (within the meaning of the Companies
(Administration) Act 1986) under an Act in force before that
commencement as if that Act continued to be in force;
(d) provide that, if no person holds the appointment referred to in
paragraph (c), the Chief Executive Officer of the Agency
administering this Act may, in relation to an event,
circumstance or thing that happened or arose before the
commencement of section 7, exercise a power or perform a
function conferred or imposed on the Commissioner for
Corporate Affairs (within the meaning of the Companies
(Administration) Act 1986) under an Act in force before that
commencement as if that Act continued to be in force; and
(e) prohibit or regulate the exercise of a power or performance of
a function of the Commissioner for Corporate Affairs by a
person appointed in accordance with paragraph (c) or the
Chief Executive Officer referred to in paragraph (d), including
by imposing conditions, limitations or qualifications on the
exercise of such a power or performance of such a function by
that person.
Part 5 General
Corporations Reform (Northern Territory) Act 2001 30
(7) Any provision of the Regulations may be expressed to take effect
from a time that is before the day on which the Regulations
containing the provision are made, not being a time earlier than
immediately before the relevant time.
(8) To the extent to which a provision of a regulation takes effect from a
time that is before the day on which the Regulations containing the
provision are made, the provision does not operate so as:
(a) to affect in a manner prejudicial to any person (other than the
Northern Territory or an authority of the Northern Territory),
the rights of that person existing before the date of making of
those Regulations; or
(b) to impose liabilities on any person (other than the Northern
Territory or an authority of the Northern Territory) in respect of
anything done or omitted to be done before the date of making
of those Regulations.
(9) The Regulations have effect despite anything to the contrary in
Part 2.
(10) In this section, matters of a transitional nature includes matters of
an application or savings nature.
Schedule 2 Table
Corporations Reform (Northern Territory) Act 2001 33
Schedule 2 Table
section 12(1)
Column 1 Column 2
the Corporations Law of the Northern
Territory
the new Corporations Act
the Corporations Regulations of the
Northern Territory
the new Corporations Regulations
an instrument made under the
Corporations Law of the Northern
Territory or the Corporations
Regulations of the Northern Territory
a corresponding preserved instrument
under the new corporations legislation
the Corporations Law the new Corporations Act
the Corporations Regulations the new Corporations Regulations
the Corporations Law of a jurisdiction
other than the Northern Territory that
is a referring State
the new Corporations Act
the Corporations Regulations of a
jurisdiction other than the Northern
Territory that is a referring State
the new Corporations Regulations
an instrument made under the
Corporations Law, or the
Corporations Regulations, of a
jurisdiction other than the Northern
Territory that is a referring State
a corresponding preserved instrument
under the new corporations legislation
the old ASIC Law Part 3 of the new ASIC Act except to
the extent to which that Part operates
in relation to a contravention of Part 2
of that Act
the ASC Law of the Northern Territory Part 3 of the new ASIC Act except to
the extent to which that Part operates
in relation to a contravention of Part 2
of that Act
Schedule 2 Table
Corporations Reform (Northern Territory) Act 2001 34
the old ASIC Regulations the new ASIC Regulations made for
the purposes of Part 3 of the new
ASIC Act except to the extent to
which they operate in relation to a
contravention of that Part
the ASC Regulations of the Northern
Territory
the new ASIC Regulations made for
the purposes of Part 3 of the new
ASIC Act except to the extent to
which they operate in relation to a
contravention of that Part
an instrument made under the old
ASIC Law or the old ASIC
Regulations
a corresponding preserved instrument
under the new ASIC legislation
an instrument made under the ASC
Law of the Northern Territory or the
ASC Regulations of the Northern
Territory
a corresponding preserved instrument
under the new ASIC legislation
the ASIC Law Part 3 of the new ASIC Act except to
the extent to which that Part operates
in relation to a contravention of Part 2
of that Act
the ASC Law Part 3 of the new ASIC Act except to
the extent to which that Part operates
in relation to a contravention of Part 2
of that Act
the ASIC Regulations the new ASIC Regulations made for
the purposes of Part 3 of the new
ASIC Act except to the extent to
which they operate in relation to a
contravention of that Part
the ASC Regulations the new ASIC Regulations made for
the purposes of Part 3 of the new
ASIC Act except to the extent to
which they operate in relation to a
contravention of that Part
the ASIC Law of a jurisdiction other
than the Northern Territory that is a
referring State
Part 3 of the new ASIC Act except to
the extent to which that Part operates
in relation to a contravention of Part 2
of that Act
Schedule 2 Table
Corporations Reform (Northern Territory) Act 2001 35
the ASC Law of a jurisdiction other
than the Northern Territory that is a
referring State
Part 3 of the new ASIC Act except to
the extent to which that Part operates
in relation to a contravention of Part 2
of that Act
the ASIC Regulations of a jurisdiction
other than the Northern Territory that
is a referring State
the new ASIC Regulations made for
the purposes of Part 3 of the new
ASIC Act except to the extent to
which they operate in relation to a
contravention of that Part
the ASC Regulations of a jurisdiction
other than the Northern Territory that
is a referring State
the new ASIC Regulations made for
the purposes of Part 3 of the new
ASIC Act except to the extent to
which they operate in relation to a
contravention of that Part
an instrument made under the ASIC
Law, or the ASIC Regulations, of a
jurisdiction other than the Northern
Territory that is a referring State
a corresponding preserved instrument
under the new ASIC legislation
an instrument made under the ASC
Law, or the ASC Regulations, of a
jurisdiction other than the Northern
Territory that is a referring State
a corresponding preserved instrument
under the new ASIC legislation
ENDNOTES
Corporations Reform (Northern Territory) Act 2001 36
ENDNOTES
1 KEY Key to abbreviations
amd = amended od = order
app = appendix om = omitted
bl = by-law pt = Part
ch = Chapter r = regulation/rule
cl = clause rem = remainder
div = Division renum = renumbered
exp = expires/expired rep = repealed
f = forms s = section
Gaz = Gazette sch = Schedule
hdg = heading sdiv = Subdivision
ins = inserted SL = Subordinate Legislation
lt = long title sub = substituted
nc = not commenced
2 LIST OF LEGISLATION
Corporations Reform (Northern Territory) Act 2001 (Act No. 19, 2001)
Assent date 29 June 2001
Commenced 15 July 2001 (s 2, s 2 Corporations Act 2001 (Cth Act No. 50,
2001) and Cth Gaz S285, 13 July 2001)
Corporations (Financial Services Reform Amendments) Act 2002 (Act No. 16, 2002)
Assent date 7 June 2002
Commenced 11 March 2002 (s 2, s 2 Financial Services Reform Act 2001
(Cth Act No. 122, 2001), s 2 Corporations Act 2001 (Cth Act
No. 50, 2001) and Cth Gaz S285, 13 July 2001)
Local Court (Related Amendments) Act 2016 (Act No. 8, 2016)
Assent date 6 April 2016
Commenced 1 May 2016 (s 2, s 2 Local Court (Repeals and Related
Amendments) Act 2016 (Act No. 9, 2016) and Gaz S34,
29 April 2016)
Statute Law Revision and Repeals Act 2026 (Act No. 3, 2026)
Assent date 9 February 2026
Commenced 10 February 2026 (s 2)
3 GENERAL AMENDMENTS
General amendments of a formal nature (which are not referred to in the table
of amendments to this reprint) are made by the Interpretation Legislation
Amendment Act 2018 (Act No. 22 of 2018) to: ss 1, 3, 12, 14, 23 and 31.
4 LIST OF AMENDMENTS
s 2 amd No. 3, 2026, s 64
s 4 amd No. 3, 2026, s 64
ss 7 – 8 amd No. 3, 2026, s 64
ENDNOTES
Corporations Reform (Northern Territory) Act 2001 37
s 10 amd No. 3, 2026, s 64
s 15 – 18 amd No. 3, 2026, s 64
s 23 amd No. 16, 2002, s 7
s 27 amd No. 8, 2016, s 45
s 31 amd No. 3, 2026, s 64