Part 14Provisions affecting Corporations Law

Part 14—Provisions affecting Corporations Law 97—Certain land transfers by companies not to constitute reduction of share capital (1) Where land under the operation of the Real Property Act 1886 is comprised in— (a) a strata plan deposited under the Strata Titles Act 1988; or (aa) a community plan deposited under the Community Titles Act 1996; or (b) a plan of division under Part 19AB of the Real Property Act 1886, and, at the time the plan was deposited, filed or enrolled, the proprietor of that land was a company, the transfer by the company of— (c) a unit on the strata plan; or (ca) a lot on the community plan; or (d) an allotment on the plan of division, in exchange for or in satisfaction of a right of the kind referred to in section 195(13) of the Corporations Law, does not of itself constitute, and is to be taken never to have constituted, a reduction of the share capital of the company. (2) Subsection (1) does not apply to a transfer made on or after the commencement of section 9 of the Corporations (South Australia) (Miscellaneous) Amendment Act 2000. Schedule—Savings and transitional provisions 1—Interpretation In this Schedule— amending provisions means sections 3 to 16 (inclusive) of the Corporations (South Australia) (Jurisdiction) Amendment Act 1995; Court means the Federal Court of Australia or the Supreme Court of a State or Territory. 2—Application of amendments The amendments made by the amending provisions apply to proceedings commenced, or recommenced, after the commencement of the amending provisions, whether the cause of action arose before or after that commencement. 3—Effect of decision that court did not have jurisdiction (1) This clause applies if— (a) before the commencement of the amending provisions, proceedings in respect of a civil matter under the Corporations Law of South Australia were commenced in a court (the first court) other than the Court; and (b) the first court, or another court on appeal from a decision of the first court, decided before the commencement of the amending provisions that the first court did not have jurisdiction in respect of the matter; and (c) the decision that the first court did not have jurisdiction still stands at the commencement of the amending provisions; and (d) the first court would have had jurisdiction in respect of the matter if the amending provisions had commenced before the cause of action arose. (2) The validity of the decision that the first court did not have jurisdiction is not affected by the amendments made by the amending provisions. (3) That decision does not affect a recommencement of the proceedings after the commencement of the amending provisions. 4—Effect of absence of decision that court did not have jurisdiction (1) This clause applies if— (a) before the commencement of the amending provisions, proceedings in respect of a civil matter under the Corporations Law of South Australia were commenced in a court (the first court) other than the Court; and (b) either— (i) no court expressly decided, before the commencement of the amending provisions, whether the first court had jurisdiction in respect of the matter; or (ii) a decision of the first court, or of another court on appeal from a decision of the first court, that the first court did have jurisdiction in respect of the matter still stands at the commencement of the amending provisions. (2) For the purposes of any consideration by a court, after the commencement of the amending provisions, of whether the first court had jurisdiction in respect of the matter, the first court is taken to have had jurisdiction in respect of the matter if it would have had that jurisdiction if the amending provisions had commenced before the cause of action arose. 5—Application of section 42AA (1) In this clause— commencement means the commencement of section 42AA; related criminal justice process decision, in relation to an offence, has the same meaning as in section 42AA. (2) Section 42AA applies in relation to— (a) a decision made on or after the commencement to prosecute a person for an offence, even if the conduct alleged to give rise to the offence occurred before that commencement; or (b) a related criminal justice process decision made on or after the commencement in relation to an offence, even if either or both of the following apply: (i) the conduct alleged to give rise to the offence occurred before the commencement; (ii) the prosecution of the offence, or an appeal arising out of the prosecution, was commenced before the commencement. (3) Section 42AA also applies in relation to— (a) a decision made before the commencement to prosecute a person for an offence, even if that decision is the subject of an application that is before a court at the commencement; or (b) a related criminal process decision made before the commencement in relation to an offence, even if either or both of the following apply: (i) the decision is the subject of an application that is before a court at the commencement; or (ii) the prosecution of the offence, or an appeal arising out of that prosecution, was commenced before the commencement. Legislative history Notes • Please note—References in the legislation to other legislation or instruments or to titles of bodies or offices are not automatically updated as part of the program for the revision and publication of legislation and therefore may be obsolete. • Earlier versions of this Act (historical versions) are listed at the end of the legislative history. • For further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au. Principal Act and amendments New entries appear in bold. Year No Title Assent Commencement Corporations (South Australia) Act 1990 20.12.1990 1.1.1991 (Gazette 20.12.1990 p1842) Corporations (South Australia) (Miscellaneous) Amendment Act 1991 12.12.1991 Pt  2 (ss 4, 6, 16—18)—1.1.1991: s 2(2) except ss 3, 5, 7—15—31.7.1992 (Gazette 23.7.1992 p675) Corporations (South Australia) (Jurisdiction) Amendment Act 1995 9.3.1995 16.10.1995 (Gazette 12.10.1995 p970) Statutes Amendment (Community Titles) Act 1996 9.5.1996 s 4—4.11.1996 (Gazette 31.10.1996 p1460) Financial Sector Reform (South Australia) Act 1999 17.6.1999 Sch (item 14)—1.7.1999 being the date specified under s 3(16) of the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 of the Commonwealth as the transfer date for the purposes of that Act: s 2(2) Corporations (South Australia) (Miscellaneous) Amendment Act 2000 8.6.2000 24.11.2000 (Gazette 23.11.2000 p3234) Statutes Amendment (Federal Courts—State Jurisdiction) Act 2000 14.12.2000 Pt 4 (ss 12—30)—28.1.2001 (Gazette 25.1.2001 p301) Corporations (Ancillary Provisions) Act 2001 14.6.2001 s 31—15.7.2001 immediately before the Corporations Act 2001 of the Commonwealth came into operation: Commonwealth of Australia Gazette No. S 285, 13 July 2001: s 2 Statutes Amendment (Administrative Review Tribunal) Act 2025 Pt 6 (ss 10 & 11)—20.11.2025: s 2 Provisions amended New entries appear in bold. Entries that relate to provisions that have been deleted appear in italics. Provision How varied Commencement Pt 1 s 1 s 1(2) amended by 19/2000 s 3 s 2 omitted under Legislation Revision and Publication Act 2002 s 3 s 3(1) applicable provision ASC Act deleted by 19/2000 s 4(a) ASIC Act inserted by 19/2000 s 4(a) ASIC Law ASC Law amended to read as ASIC Law by 19/2000 s 10 ASIC Law of South Australia ASC Law of South Australia amended to read as ASIC Law of South Australia by 19/2000 s 10 ASIC Regulations ASC Regulations amended to read as ASIC Regulations by 19/2000 s 10 ASIC Regulations of South Australia ASC Regulations of South Australia amended to read as ASIC Regulations of South Australia by 19/2000 s 10 Commission substituted by 19/2000 s 4(b) Commonwealth administrative laws amended by 79/1991 s 4 amended by 74/2000 s 12(a) (b) deleted by 74/2000 s 12(b) amended by 54/2025 s 10 Commonwealth authority inserted by 74/2000 s 12(c) Commonwealth law corresponding law Family Court inserted by 79/1991 s 5(a) deleted by 74/2000 s 12(d) Federal Court inserted by 79/1991 s 5(a) national scheme law of this jurisdiction officer of the Commonwealth inserted by 74/2000 s 12(e) State Family Court inserted by 79/1991 s 5(b) Pt 2 s 7 amended by 20/2001 s 31(a) s 8 s 8(1) amended by 20/2001 s 31(b), (c) Pt 3 s 12 s 12(2) amended by 20/2001 s 31(d) s 12(3) amended by 20/2001 s 31(e) Pt 4 s 15 s 15(1a) inserted by 19/2000 s 5 Pt 5 s 20 Pt 6 deleted by 19/2000 s 6 Pt 8 s 26 s 27 s 27(1) s 30 s 30(1) amended by 79/1991 s 6 s 31 s 31(5) inserted by 20/2001 s 31(f) s 33 deleted by 20/2001 s 31(g) s 36A inserted by 74/2000 s 13 substituted by 54/2025 s 11 s 37 s 37(5) inserted by 20/2001 s 31(h) s 39 deleted by 20/2001 s 31(i) Pt 9 s 40 s 40(1) amended by 6/1995 s 3 amended by 74/2000 s 14 s 41 s 41(1) civil matter inserted by 6/1995 s 4(a) Corporations Law inserted by 6/1995 s 4(a) lower court superior court substituted by 74/2000 s 15(a) superior court matter s 41(2) amended by 79/1991 s 7 (a)(viii) deleted by 74/2000 s 15(b) s 42 s 42(1) amended by 74/2000 s 16(a) s 42(1a) and (1b) inserted by 74/2000 s 16(b) s 42(2) amended by 74/2000 s 16(c) s 42(3) amended by 79/1991 s 8 substituted by 74/2000 s 16(d) s 42A inserted by 79/1991 s 9 s 42A(1) deleted by 74/2000 s 17(a) s 42A(2) amended by 74/2000 s 17(b) s 42A(4) inserted by 74/2000 s 17(c) s 42AA inserted by 74/2000 s 18 s 42B inserted by 6/1995 s 5 s 42B(1) amended by 74/2000 s 19 s 43 substituted by 79/1991 s 10 s 43(1) amended by 74/2000 s 20(a) s 43(2) and (3) deleted by 74/2000 s 20(b) s 43(4) substituted by 6/1995 s 6 amended by 74/2000 s 20(c) s 43(5) amended by 74/2000 s 20(d) s 43(6) amended by 74/2000 s 20(e) s 44 s 44(1) substituted by 74/2000 s 21(a) s 44(2) amended by 74/2000 s 21(b) s 44(3)—(5) deleted by 79/1991 s 11 inserted by 74/2000 s 21(c) s 44(6) and (7) inserted by 74/2000 s 21(c) s 44A s 44A(1) amended by 74/2000 s 22(a) s 44A(2) amended by 6/1995 s 7 amended by 74/2000 s 22(b)—(e) s 44A(3) amended by 74/2000 s 22(f) s 44A(5) inserted by 74/2000 s 22(g) s 44AA inserted by 6/1995 s 8 s 44AA(6a) inserted by 74/2000 s 23 s 44B substituted by 6/1995 s 9 s 44C amended by 6/1995 s 10 s 44D amended by 6/1995 s 11 s 45 s 45(1) amended by 79/1991 s 13(a) s 45(3) relevant jurisdiction amended by 79/1991 s 13(b)—(e) amended by 6/1995 s 12 (a) and (b) deleted by 74/2000 s 24(a) amended by 74/2000 s 24(b) s 46 amended by 6/1995 s 13 amended by 74/2000 s 25 s 47 amended by 6/1995 s 14 s 50 s 50(1) amended by 79/1991 s 14(a) amended by 6/1995 s 15(a), (b) substituted by 74/2000 s 26(a) s 50(2) amended by 79/1991 s 14(b), (c) amended by 6/1995 s 15(c), (d) amended by 74/2000 s 26(b) s 51 s 51(1a) inserted by 6/1995 s 16(a) s 51(2) amended by 6/1995 s 16(b) s 51(3) amended by 6/1995 s 16(c) s 52 deleted by 74/2000 s 27 s 52A inserted by 79/1991 s 15 s 52A(1) deleted by 74/2000 s 28 s 54 s 54(2) amended by 74/2000 s 29 Pt 11 Pt 11 Div 1 s 58 s 58(1) amended by 20/2001 s 31(j) s 58(2) s 59 amended by 20/2001 s 31(k) s 60 s 60(1) Advisory Committee affairs amended by 19/2000 s 7(a) assist Australia books amended by 33/1999 Sch (item 14) 1.7.1999 amended by 19/2000 s 7(b) Chairperson Commission amended by 19/2000 s 7(c) Commission delegate court Disciplinary Board examination expenses foreign country give hearing meeting member national scheme law national scheme law of this jurisdiction officer amended by 6/1995 s 17 Panel Panel proceedings inserted by 19/2000 s 7(d) prescribed produce record regulations staff member Territory this Act witness substituted by 19/2000 s 7(e) s 60(2) s 61 s 62 s 62(1) and (2) Pt 11 Div 2 s 63 s 63(1) and (2) s 64 s 64(2) s 64(3) amended by 20/2001 s 31(l) s 65 s 65(1), (2) and (4) Pt 11 Div 3 s 67 deleted by 20/2001 s 31(m) s 68 (b) deleted by 20/2001 s 31(n) s 69 deleted by 20/2001 s 31(o) Pt 11 Div 6 s 72 s 73 s 73(1) and (2) s 74 s 74(1) s 74(3) substituted by 79/1991 s 16 s 75 substituted by 6/1995 s 18 s 75(1) Pt 13 Pt 13 Div 2 s 85 s 85(1) amended by 20/2001 s 31(p) s 85(4) inserted by 20/2001 s 31(q) s 87 s 87(3) and (4) inserted by 20/2001 s 31(r) s 90 s 90(1) instrument substituted by 79/1991 s 17 s 90(3), (4) and (6) s 91 s 91(1) substituted by 79/1991 s 18 amended by 6/1995 s 19 Pt 13 Div 3 s 94 deleted by 19/2000 s 8 Pt 13 Div 6 inserted by 20/2001 s 31(s) Pt 14 s 97 s 97(1) s 97 amended by 38/1996 s 4 4.11.1996 s 97 redesignated as s 97(1) by 19/2000 s 9 s 97(2) inserted by 19/2000 s 9 Sch inserted by 6/1995 s 20 cl 5 inserted by 74/2000 s 30 Transitional etc provisions associated with Act or amendments Corporations (South Australia) (Miscellaneous) Amendment Act 1991 20—Reports and financial statements The Minister must cause— (a) a copy of each report of the operations of the National Companies and Securities Commission and the financial statements of the National Companies and Securities Commission prepared by the Australian Securities Commission in accordance with section 14(1), (7) or (8) of the Corporations Legislation Amendment Act 1991 of the Commonwealth; and (b) a copy of the report of the Auditor-General for the Commonwealth on those financial statements, being reports and financial statements copies of which have been submitted to the Minister by the Australian Securities Commission under section 15(3) of that Act, to be laid before each House of the Parliament within 12 sittings days of that House after its receipt by the Minister. Historical versions Reprint No 1—12.12.1991 Reprint No 2—31.7.1992 Reprint No 3—16.10.1995 Reprint No 4—4.11.1996 Reprint No 5—1.7.1999 Reprint No 6—24.11.2000 Reprint No 7—28.1.2001 Reprint No 8—15.7.2001