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CORPORATIONS ACT 2001

CHAPTER 2D - OFFICERS AND EMPLOYEES  

PART 2D.2 - RESTRICTIONS ON INDEMNITIES, INSURANCE AND TERMINATION PAYMENTS  

Division 2 - Termination payments  

SECTION 200  

200  INTERPRETING THIS DIVISION  

 View history reference
For the purposes of this Division, in determining whether a benefit is given:


(a) give a broad interpretation to benefits being given, even if criminal or civil penalties may be involved; and


(b) the economic and commercial substance of conduct is to prevail over its legal form.

[CCH Note: Act No 115 of 2009, s 3, Sch 1, Pt 3[43] (effective 24 November 2009) contained the following application provision:

Part 3 - Application

43 Application  


(1) The amendments made by Part 1 apply in relation to a retirement from an office, or position of employment, held under:


(a) an agreement entered into; or


(b) an agreement renewed or extended; or


(c) an agreement, for which a variation of a condition of the agreement happens;

on or after the commencement of that Part.


(2) If the amendments made by Part 1 apply in relation to a person's retirement from an office or position in a company, the person's relevant period for the purposes of section 200F or 200G of the Corporations Act 2001 applies to managerial or executive offices held by the person:


(a) in the company or related bodies corporate; and


(b) before, on or after the commencement of that Part.


(3) Despite the amendment made by Part 2 (the Part 2 amendment), paragraph 200F(1)(a) of the Corporations Act 2001 (as amended by Part 1 of this Schedule) continues to apply, in relation to agreements entered into before 1 January 1991, as if the Part 2 amendment had not been made.

]

 



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