Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW
- SECT 786A

(1)

This section applies where, immediately before the commencement of this Part:

(a)

a licence granted under a previous law of this jurisdiction corresponding to section 783 or 784 was in force; and

(b)

the licence maintained a security, under a condition to which the licence was subject in accordance with a previous law of this jurisdiction corresponding to paragraph 786(2)(d), with the local authority within the meaning of that previous law.

(2)

After that commencement, the security has effect, with such modifications as are prescribed or the circumstances require, as if:

(a)

it were a security lodged and maintained under a condition to which the licence is subject in accordance with paragraph 786(2)(d); and

(b)

the Commission were substituted for the local authority as a party to the security; and

(c)

a reference in the security to the local authority were a reference to the Commission.

(3)

Without limiting subsection 786(9), regulations for the purposes of that subsection may provide for the security to be applied in connection with an act done, an omission or event occurring, or a matter arising, before that commencement.