Part 13Transitional

Part 13—Transitional Division 1—Staff 81—Information previously acquired A staff member who, before the commencement of this section, was an employee in the Public Service of South Australia engaged in the administration of a co-operative scheme law may disclose to the Commission information acquired while so engaged. 82—Staff (1) A person who— (a) is a member of the Commission's staff appointed under the Public Service Act 1922 of the Commonwealth; and (b) was so appointed under section 81B of that Act; and (c) immediately before that appointment, was an employee in the Public Service of South Australia employed in the office of the Corporate Affairs Commission, is to be taken to have been granted special leave without pay from the Public Service of South Australia for a period prescribed by regulation and on such conditions as may be determined by the Commissioner for Public Employment. (2) A person who is on special leave without pay by virtue of subsection (1) may elect to resume duties in the Public Service of South Australia by notice in writing given to the Commissioner for Public Employment and, in that event, may, on the expiration of a period determined by the Commissioner, resume duties in the position in the Public Service to which the person is for the time being assigned. (3) A person referred to in subsection (2) will, unless the person— (a) makes an election under that subsection; or (b) resigns or otherwise ceases to be employed in the Public Service of South Australia, before the expiration of the prescribed period, be taken to have resigned from the Public Service on the expiration of that period. 83—Superannuation arrangements with Commission The Commission is prescribed for the purposes of section 5 of the Superannuation Act 1988 as an authority with which the South Australian Superannuation Board may enter into superannuation arrangements. Division 2—Co-operative scheme laws 84—Co-operative scheme laws For the purposes of this Act, the following are the co-operative scheme laws: Companies (Application of Laws) Act 1982 Companies (South Australia) Code Companies (Acquisition of Shares) (Application of Laws) Act 1981 Companies (Acquisition of Shares) (South Australia) Code Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981 Companies and Securities (Interpretation and Miscellaneous Provisions) (South Australia) Code Securities Industry (Application of Laws) Act 1981 Securities Industry (South Australia) Code Futures Industry (Application of Laws) Act 1986 Futures Industry (South Australia) Code. 85—National scheme laws prevail over co-operative scheme laws (1) This section provides for the national scheme laws of this jurisdiction to supersede the co-operative scheme laws, which are to continue to operate of their own force only in relation to— (a) matters arising before the commencement of this section; and (b) 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. (2) Where a co-operative 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 co-operative scheme law does not operate. (3) For the purposes of subsection (2), a co-operative 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. Corporations legislation means the Corporations legislation to which Part 1.1A of the Corporations Act 2001 of the Commonwealth applies. 86—Regulations may exclude residual operation of co-operative scheme laws (1) Regulations under section 80 may provide that prescribed provisions of co-operative scheme laws do not operate, either generally or as otherwise prescribed by the regulations. (2) Regulations in force because of subsection (1) have effect accordingly. 87—Effect of sections 85 and 86 (1) To the extent that a co-operative scheme law ceases to operate because of section 85 or 86, the law is taken for the purposes of the Acts Interpretation Act 1915 to have been repealed by this Act. (2) Nothing in this Act revives, or otherwise affects the exclusion of, the provisions referred to in section 18 of the Companies (Application of Laws) Act 1982 or section 16(1) of the Securities Industry (Application of Laws) Act 1981. (3) The amendment of the Companies (Application of Laws) Act 1982 by the Corporations (Ancillary Provisions) Act 2001 does not revive, or otherwise affect the exclusion of, the provisions referred to in section 18(1) of the Companies (Application of Laws) Act 1982. (4) The amendment of the Securities Industry (Application of Laws) Act 1981 by the Corporations (Ancillary Provisions) Act 2001 does not revive, or otherwise affect the exclusion of, the provisions referred to in section 16(1) of the Securities Industry (Application of Laws) Act 1981. 88—Regulations may modify co-operative scheme laws (1) Regulations under section 80 may provide that a specified co-operative scheme law, or specified provisions of a co-operative scheme law, has or have effect with such modifications as the regulations prescribe. (2) Regulations in force because of subsection (1) have effect accordingly, even if, because of section 85 or 86, the specified law does not operate of its own force, or the specified provisions do not operate of their own force, as the case requires. (3) However, a reference in section 85(2) to a co-operative scheme law includes a reference to such a law as it has effect, or to provisions of such a law as they have effect, because of this section. 89—Co-operative scheme laws not affected by certain Commonwealth regulations The operation or effect of a co-operative scheme law is not modified or otherwise affected because regulations of a kind referred to in section 77 or 79 of the Corporations Act modify or otherwise affect the operation of a Co-operative Scheme Act within the meaning of Part 12 of the Corporations Act. 90—References to co-operative scheme laws and regulations (1) In this section— Code regulations means provisions applying as regulations made under a Code by reason of a provision of an Act that is a co-operative scheme law; instrument has the same meaning as in section 13, but does not include— (a) a co-operative scheme law; or (b) regulations under an Act that is such a law, or under this Act; or (c) Code regulations; or (d) a national scheme law of this jurisdiction, or the Corporations Regulations, or ASIC Regulations, of South Australia. (2) Subject to subsection (4) and to any regulations in force under subsection (7), a reference in an instrument to a co-operative scheme law is to be taken to include a reference to such provisions of the national scheme laws of this jurisdiction as correspond to provisions of the co-operative scheme law. (3) Subject to subsection (4) and to any regulations in force under subsection (7), a reference in an instrument to Code regulations is to be taken to include a reference to such provisions of the Corporations Regulations, or ASIC Regulations, of South Australia as correspond to provisions of the Code regulations. (4) Subject to any regulations in force under subsection (7), a reference in an instrument to a provision of a co-operative scheme law or of Code regulations is to be taken to include a reference to the corresponding provision of a national scheme law of this jurisdiction or of the Corporations Regulations, or ASIC Regulations, of South Australia, as the case may be. (5) Subject to any regulations in force under subsection (7), a reference in an instrument to the NCSC is to be taken to include a reference to the Commission. (6) Regulations under section 80 may declare that, for the purposes of this section— (a) prescribed provisions of national scheme laws of this jurisdiction correspond to prescribed provisions of co-operative scheme laws; and (b) prescribed provisions of the Corporations Regulations, or ASIC Regulations, correspond to prescribed provisions of Code regulations. (7) Regulations under section 80— (a) may declare that subsection (2), (3), (4) or (5) of this section does not apply in relation to prescribed references in prescribed instruments; or (b) may declare that subsection (2), (3), (4) or (5) of this section has effect in relation to prescribed references in prescribed instruments as if, in the subsection, the words "be taken to be" were substituted for the words "be taken to include". (8) Regulations in force because of subsection (6) or (7) have effect accordingly. 91—Conferral of functions and powers in relation to co-operative scheme laws (1) The Commonwealth Director of Public Prosecutions— (a) has the same enforcement powers in relation to the co-operative scheme laws as has the Crown in right of South Australia acting by the Attorney-General or the Director of Public Prosecutions of South Australia; and (b) may, in relation to an offence against a co-operative scheme law, perform the functions and exercise the powers conferred on the Director of Public Prosecutions by the Director of Public Prosecutions Act 1983 of the Commonwealth in relation to offences against the laws of the Commonwealth as if the offence against the co-operative scheme law were an offence against a national scheme law of this jurisdiction. (2) The Australian Federal Police— (a) have the same enforcement powers in relation to the co-operative scheme laws as has the police force of South Australia; and (b) may, in relation to an offence against a co-operative scheme law, perform the functions and exercise the powers conferred on the Australian Federal Police in relation to offences against the laws of the Commonwealth as if the offence against the co-operative scheme law were an offence against a national scheme law of this jurisdiction. (3) The Commonwealth Minister has, in respect of the prosecution of offences against the co-operative scheme laws, the same functions and powers as he or she has in respect of the prosecution of offences against a national scheme law of this jurisdiction. (4) For the purposes of the exercise of enforcement powers, and other functions and powers conferred by this section, including the obtaining of warrants to arrest, an offence against a co-operative scheme law is taken to be an offence against a national scheme law of this jurisdiction. enforcement power means a function or power relating to— (a) the investigation of an offence; or (b) the arrest and custody of persons charged with an offence; or (c) the institution and carrying on of a prosecution of an offence; or (d) matters relating to such an investigation, arrest, custody or prosecution. 92—Arrangements affecting exercise of investigation powers by State authorities and officers (1) Where an arrangement between the Minister and the Commonwealth Minister makes provision in relation to the exercise by a State authority or officer of enforcement powers within the meaning of section 91 in relation to the co-operative scheme laws— (a) the State authority or officer is authorised to act in accordance with that arrangement; and (b) the State authority or officer must not exercise an enforcement power except in accordance with that arrangement; and (c) the exercise of, or failure to exercise, an enforcement power by a State authority or officer is to be taken to have been validly performed or withheld, despite any failure to comply with any conditions in the arrangement. (2) Notice of each arrangement under subsection (1) must be published in the Gazette and in the Commonwealth of Australia Gazette within 21 days after it is made. Division 3—Exemptions 93—Exempt bodies A body corporate is excluded from the definition of corporation in section 9 of the Corporations Law of South Australia if— (a) the body is not a company for the purposes of section 9 of that Law; and (b) it is incorporated by or under a law of South Australia other than that Law or a corresponding previous law. Division 4—Australian Stock Exchange Limited 95—Saving of provisions about Australian Stock Exchange Limited (1) Section 85 does not apply in relation to Part 2A of the Securities Industry (South Australia) Code. (2) Part 2A has effect, as provided in this section, despite the national scheme laws of this jurisdiction. (3) A reference in Part 2A to a relevant Code, except in relation to a time before the commencement of this section, is taken to be a reference to a national scheme law of this jurisdiction. (4) Subject to subsection (5), a reference in Part 2A to a particular co-operative scheme law, except in relation to a time before that commencement, is taken to be a reference to such provisions of the national scheme laws of this jurisdiction as correspond to provisions of that law. (5) A reference in Part 2A to a provision of a co-operative scheme law (other than a provision of Part 2A itself), except in relation to a time before that commencement, is taken to be a reference to the corresponding provision of a national scheme law of this jurisdiction. (6) Regulations in force because of section 90(6) also have effect for the purposes of this section. Division 5—Companies Auditors and Liquidators Disciplinary Board 96—Board to continue in existence for certain purposes The Companies Auditors and Liquidators Disciplinary Board established under section 13 of the Companies (Administration) Act 1982 may perform the functions and exercise the powers conferred on it under Division 2 of Part II of the Companies (South Australia) Code in respect of applications made to it under Subdivision B of that Division before the commencement of this section. Division 6—Functions of Commonwealth authorities and officers of the Commonwealth 96A—Definitions In this Division— function includes a power; old corporations legislation has the same meaning as in the Corporations (Ancillary Provisions) Act 2001; perform includes exercise. 96B—Functions of Commonwealth authorities and officers of the Commonwealth If a Commonwealth authority or an officer of the Commonwealth has a function expressed to be conferred on the authority or officer by or under the old corporations legislation, the authority or officer is not under a duty to perform that function.