27Activities of trading or financial corporations—severability of Act’s operation

#### 27 Activities of trading or financial corporations—severability of Act’s operation (1) By force of this subsection, this Act, as it applies to a regulated corporation that is a trading corporation or a financial corporation, has effect in relation to things done, or authorised or caused to be done, by the regulated corporation in the course of its trading activities, or its financial activities, as the case requires. (2) By force of this subsection, this Act, as it applies to a regulated corporation that is a trading corporation or a financial corporation, has effect in relation to things done, or authorised or caused to be done, by the regulated corporation otherwise than in the course of its trading activities, or its financial activities, as the case requires. (3) In this section: > financial corporation means: (a) a body corporate that is, for the purposes of paragraph 51(xx) of the Constitution, a financial corporation formed within the limits of the Commonwealth; or (b) a body corporate that is a holding company of a body corporate of a kind referred to in paragraph (a); or (c) a body corporate that is controlled by a body corporate of a kind referred to in paragraph (a) or (b); or (d) a partnership at least one of the partners in which is a body corporate of a kind referred to in paragraph (a), (b) or (c). > trading corporation means: (a) a body corporate that is, for the purposes of paragraph 51(xx) of the Constitution, a trading corporation formed within the limits of the Commonwealth; or (b) a body corporate that is a holding company of a body corporate of a kind referred to in paragraph (a); or (c) a body corporate that is controlled by a body corporate of a kind referred to in paragraph (a) or (b); or (d) a partnership at least one of the partners in which is a body corporate of a kind referred to in paragraph (a), (b) or (c).