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CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.1 - TRANSITION FROM THE OLD CORPORATIONS LEGISLATION  

Division 1 - Preliminary  

SECTION 1374  

1374  EXISTENCE OF SEVERAL VERSIONS OF OLD CORPORATIONS LEGISLATION DOES NOT RESULT IN THIS PART OPERATING TO TAKE SAME THING TO BE DONE SEVERAL TIMES UNDER NEW CORPORATIONS LEGISLATION ETC.  

If, apart from this section, a provision of this Part (the transitional provision) would, because each State or Territory in this jurisdiction had its own old corporations legislation (containing parallel provisions) before the commencement, operate so that:


(a) a particular thing done before the commencement would be taken to be done, or have effect, 2 or more times by, under or for the purposes of, a provision of this Act; or


(b) a right or liability would be created 2 or more times in respect of a particular event, circumstance or thing that happened before the commencement; or


(c) a particular result or effect would be produced 2 or more times for the purposes of the new corporations legislation in relation to the same matter;

the transitional provision is taken to operate so that:


(d) if paragraph (a) applies - the thing is taken to be done or have effect only once by, under, or for the purposes of, the provision of the new corporations legislation; or


(e) if paragraph (b) applies - the right or liability is created only once in respect of the event, circumstance or thing; or


(f) if paragraph (c) applies - the result or effect is produced only once in relation to the matter.

Note: So, for example, if a body (because of the operation of section 102A of the old Corporations Law) was registered under section 601CB of the old Corporations Law of several States and Territories and those registrations were still in force immediately before the commencement, section 1399 does not apply separately to each of those registrations.


 



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