Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW
- SECT 928
Commission to be notified of amendments to business
rules
- (1)
- Where an amendment is
made, by way of rescission, alteration or addition, to its business rules,
SEGC shall, as soon as practicable after the making of the amendment, give
written notice of the amendment to the
Commission.
- (2)
- A notice under subsection
(1) shall:
- (a)
- set out the
text of the amendment;
- (b)
- specify the date on which
the amendment was made; and
- (c)
- contain an explanation of
the purpose of the amendment.
- (3)
- If the notice required to
be given by subsection (1) is not given within 21 days after the making of the
amendment, the amendment ceases to have
effect.
- (4)
- Where the Commission
receives a notice under this section, it shall as soon as practicable send a
copy of the notice to the Minister.
- (5)
- The Minister may, within
28 days after the receipt by the Commission of a notice under this section,
disallow the whole or a specified part of the amendment to which the notice
relates.
- (6)
- Where the Minister
disallows the whole or a part of an amendment to which a notice under this
section relates, the Commission shall as soon as practicable give notice of
the disallowance to SEGC and, upon receipt by SEGC of the notice of
disallowance, the amendment, to the extent of the disallowance, ceases to have
effect.
- (7)
- If:
- (a)
- a notice of
an amendment to the business rules of NSEGC was given by NSEGC to the NCSC
before the commencement of this Part under a corresponding previous
law;
- (b)
- the amendment had not
ceased to have effect before that
commencement;
- (c)
- a period of 28 days after
the receipt of the notice by the NCSC had not elapsed before that
commencement; and
- (d)
- the Ministerial Council
had not before that commencement disallowed the whole or a part of the
amendment to which the notice related;
this section (other than paragraph (2)(b)) applies as if the amendment had
been an amendment to the business rules of SEGC made on the date of
commencement of this Part.
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