Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1438

(1)

If property vested in ASIC before commencement under Division 8 of Part 5.6, ASIC may deal with the property under Chapter 5A as if the property were vested in it under section 601AD.

(2)

If:

(a)

property was vested in ASIC under section 254 of ASIC Law; and

(b)

the property was previously vested in the NCSC:

(i)

because of the previous law of this jurisdiction corresponding to section 576 of the old Law; and

(ii)

not under section 43 of the National Companies and Securities Commission Act 1979;

ASIC may deal with the property under Chapter 5A as if it were vested in it under section 601AD.

(3)

If property vested, or vests, in ASIC under section 601, ASIC may deal with the property under Chapter 5A as if the property were vested in it under section 601AD.

(4)

This section has effect despite section 601.