| Long Title |
This Bill forms part of the package of corporations Bills that are necessary to support the new arrangements for a national Corporations Law. The Bill amends over 100 Acts that contain references to the Corporations Law, or to a previous Corporations Law scheme, or that otherwise need amendment because of the change from a State-based to a Commonwealth-based system of Corporations Law. The schedule makes amendments that fall into distinct categories- amendment of provisions referring to the Corporations Law, or any part of it, so that they refer in future to the proposed Corporations Act 2001 of the Commonwealth, or the relevant part of it; correction of references to particular provisions of the Corporations Law so that they are read in future as references to the correct provisions of the proposed Corporations Act 2001, which includes amendments consequential to the Commonwealth Corporate Law Economic Reform Program Act 1999; similar amendment and correction in relation to existing references to the Companies (Western Australia) Code and other code Acts; in accordance with part 1.1A of the proposed Corporations Act 2001 of the Commonwealth, provisions - dealing with the interaction between Commonwealth legislation and State provisions - to continue certain existing exemptions, exceptions and exclusions from the operation of the Corporations Law that apply under State law; the re-enactment of provisions in Acts that apply particular provisions of the Corporations Law as if they were part of those Acts so that the provisions continue to apply as State law; and
other miscellaneous adjustments necessary for the new corporations scheme. |