Corporations Act. Australia

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СКАЧАТЬ A State is a referring State even if the State reference Act includes a provision to the effect that nothing in the State reference Act is intended to enable the making of laws pursuant to the amendment reference with the sole or main underlying purpose or object of regulating industrial relations matters even if, but for that provision in the State reference Act, the law would be a law with respect to a matter referred to the Parliament of the Commonwealth by the amendment reference.

      (3) A State is a referring State even if a law of the State provides that the reference to the Commonwealth Parliament of either or both of the matters covered by subsections (4) and (5) is to terminate in particular circumstances.

      Reference covering initial Corporations Act and ASIC Act

      (4) This subsection covers the matters to which the referred provisions relate to the extent of making laws with respect to those matters by including the referred provisions in the initial Corporations Act and the initial ASIC Act.

      Reference covering amendments of this Act and ASIC Act

      (5) This subsection covers the matters of the formation of corporations, corporate regulation and the regulation of financial products and services to the extent of the making of laws with respect to those matters by making express amendments of this Act or the ASIC Act.

      Effect of termination of reference

      (6) A State ceases to be a referring State if the State’s initial reference terminates.

      (7) A State ceases to be a referring State if:

      (a) the State’s amendment reference terminates; and

      (b) subsection (8) does not apply to the termination.

      (8) A State does not cease to be a referring State because of the termination of its amendment reference if:

      (a) the termination is effected by the Governor of that State fixing a day by proclamation as the day on which the reference terminates; and

      (b) the day fixed is no earlier than the first day after the end of the period of 6 months beginning on the day on which the proclamation is published; and

      (c) that State’s amendment reference, and the amendment reference of every other State, terminates on the same day.

      Definitions

      (9) In this section:

      amendment reference of a State means the reference by the Parliament of the State to the Parliament of the Commonwealth of the matters covered by subsection (5).

      express amendment of this Act or the ASIC Act means the direct amendment of the text of this Act or the ASIC Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter) by Commonwealth Acts, but does not include the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act or the ASIC Act.

      initial ASIC Act means the ASIC Act as originally enacted.

      initial Corporations Act means this Act as originally enacted.

      initial reference of a State means the reference by the Parliament of the State to the Parliament of the Commonwealth of the matters covered by subsection (4).

      referred provisions means:

      (a) the initial Corporations Act; and

      (b) the initial ASIC Act;

      to the extent to which they deal with matters that are included in the legislative powers of the Parliaments of the States.

      State reference Act for a State is the law under which the initial reference and the amendment reference are given.

      5 General territorial application of Act

      Geographical coverage of “this jurisdiction”

      (1) Section 9 defines this jurisdiction as the area that includes:

      (a) each referring State (including its coastal sea); and

      (b) the Capital Territory (including the coastal sea of the Jervis Bay Territory); and

      (c) the Northern Territory (including its coastal sea); and

      (d) also, for the purposes of the application of a provision of Chapter 7 or an associated provision (see subsection (10)) — any external Territory in which the provision applies because of subsection (9) (but only to the extent provided for in that subsection).

      (2) Throughout this Act, this jurisdiction therefore consists of:

      (a) either:

      (i) the whole of Australia (if all the States are referring States); or

      (ii) Australia (other than any State that is not a referring State) if one or more States are not referring States; and

      (b) also, when used in or in relation to a provision of Chapter 7 or an associated provision (see subsection (10)) — any external Territory in which the provision applies because of subsection (9) (but only to the extent provided for in that subsection).

      Operation in this jurisdiction

      (3) Each provision of this Act applies in this jurisdiction.

      Operation outside this jurisdiction

      (4) Subject to subsection (8), each provision of this Act also applies, according to its tenor, in relation to acts and omissions outside this jurisdiction.

      Residence, place of formation etc.

      (7) Each provision of this Act applies according to its tenor to:

      (a) natural persons whether:

      (i) resident in this jurisdiction or not; and

      (ii) resident in Australia or not; and

      (iii) Australian citizens or not; and

      (b) all bodies corporate and unincorporated bodies whether:

      (i) formed or carrying on business in this jurisdiction or not; and

      (ii) formed or carrying on business in Australia or not.

      Note: Paragraph (b) — many of the provisions in this Act apply only in relation to companies (that is, to companies that are registered under this Act).

      Operation in non‑referring States

      (8) This Act does not apply to an act or omission in a State that is not a referring State to the extent to which that application would be beyond the legislative powers of the Parliament (including powers it has under paragraphs 51(xxxvii) and (xxxix) of the Constitution).

      Expanded СКАЧАТЬ