(1) In this Part:
"old ASIC Law" of a State in this jurisdiction or the Northern Territory means the ASIC Law or ASC Law of the State or Territory (within the meaning of the application Act of the State or Territory as in force from time to time before the commencement).
"pre-commencement right or liability "has the meaning given by subsection 276(1) or 277(1).
"preserved instrument "means an instrument that, because of section 275, has effect after the commencement as if it were made under a provision of the new ASIC legislation.
"right "includes an interest or status.
"substituted right or liability "has the meaning given by subsection 276(2) or 277(3).
"this Part "includes regulations made for the purposes of any of the provisions of this Part.
(2) Subject to subsection (4), for the purposes of this Part, a provision or part (the old provision or part ) of the old ASIC legislation of the Commonwealth, a State or the Northern Territory corresponds to a provision or part (the new provision or part ) of the new ASIC legislation (and vice versa) if:
(3) For the purposes of paragraph (2)(a), differences of all or any of the following kinds are not sufficient to mean that 2 provisions or parts are not substantially the same:
(4) The regulations may provide that a specified provision of the old ASIC legislation of the Commonwealth, a State or the Northern Territory does, or does not, correspond to a specified provision of the new ASIC legislation.