Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 322

322. (1) Where:

   (a)  a company of a State or Territory is registered as a company under
        Division 2 of Part 2.2; and

   (b)  as at the start of the company's registration day, a person (being the
        company or anyone else) had not fully complied, in relation to the
        company in relation to a financial year of the company that ended
        before that day, with the requirements of a law, or of a previous law,
        of that State or Territory corresponding to a provision of this Part
        (other than sections 289 and 290) or Part 3.7; subsections (2) and (3)
        of this section apply, subject to this Act, on and after that day.

(2) The person shall comply with those requirements as if:

   (a)  they were requirements imposed by a law of the Commonwealth; and

   (b)  in the law or previous law referred to in paragraph (1) (b):

        (i)    a reference to a particular law corresponding to a provision of
               this Act included a reference to that provision; and

        (ii)   a reference to the NCSC were, or included, as the case
               requires, a reference to the Commission.

(3) If, at a time, or throughout a period beginning, on or after that day, the
person contravenes those requirements, this Act applies as if the person had,
at that time or throughout that period, as the case may be, contravened the
provision referred to in paragraph (1) (b).

(4) The regulations may modify or vary, and may exempt from compliance with,
requirements with which this section requires a person to comply.