New South Wales Consolidated Acts

CORPORATIONS (NEW SOUTH WALES) ACT 1990 - SECT 8

8 Application of regulations

(1) The regulations in force, immediately before the repeal of the Corporations Act, under section 22 of that Act:

(a) apply as regulations in force for the purposes of the Corporations Law of New South Wales , and

(b) as so applying, may be referred to as the Corporations Regulations of New South Wales .

(2) Subject to subsection (3) of this section, where regulations under section 22 of the Corporations Act take effect from a specified day that is earlier than the day when they are notified in the Commonwealth of Australia Gazette under section 48 (1) of the Acts Interpretation Act 1901 of the Commonwealth, subsection (1) of this section has effect, and is taken always to have had effect, as if those regulations had taken effect under the Corporations Act from the specified day.

(3) To the extent that a provision of the Corporations Regulations of New South Wales is taken because of a particular application of subsection (2) to have effect, or to have had effect, before the day of notification of the regulations referred to in that subsection, the provision does not operate so as to:

(a) affect a private person's rights as at that day so as to disadvantage that person, or

(b) impose a liability on a private person in respect of anything done or omitted to be done before that day.

(4) In subsection (3):

"private person" means a person other than:

(a) the Commonwealth, a State or the Capital Territory, or

(b) an authority of the Commonwealth, of a State or of the Capital Territory.

(5) Subsection (3) does not affect any other operation that the provision has because of subsection (2) or otherwise.