44Legislative instruments that are not subject to disallowance

44 Legislative instruments that are not subject to disallowance

(1) Section 42 does not apply in relation to a legislative instrument, or a provision of a legislative instrument if the enabling legislation for the instrument (not being the Corporations Act 2001): (a) facilitates the establishment or operation of an intergovernmental body or scheme involving the Commonwealth and one or more States or Territories; and (b) authorises the instrument to be made by the body or for the purposes of the body or scheme; unless the instrument is a regulation, or the enabling legislation or some other Act has the effect that the instrument is disallowable. (2) Section 42 does not apply in relation to a legislative instrument, or a provision of a legislative instrument, if: (a) an Act declares, or has the effect, that section 42 does not apply in relation to the instrument or provision; or (b) the legislative instrument is prescribed by regulation for the purposes of this paragraph. (3) Prescribing a kind of instrument by regulation for the purposes of paragraph (2)(b) does not imply that every instrument of that kind is a legislative instrument.