sec.12Prohibition on conduct of managed investment scheme by incorporated legal practice

### sec.12 Prohibition on conduct of managed investment scheme by incorporated legal practice Section 112 (2) of the Act is declared to be a Corporations legislation displacement provision for the Corporations Act , section 5G , in relation to the Corporations legislation. The Corporations Act , section 5G , states that if a State law declares a provision of State law to be a Corporations legislation displacement provision for the purposes of that section, any provision of the Corporations legislation with which the State provision would otherwise be inconsistent does not operate to the extent necessary to avoid the inconsistency.