South Australian Current Acts South Australian Current Acts (1) The following
matters are referred to the Parliament of the Commonwealth:
(a) the
matters to which the referred provisions relate, but only to the extent of the
making of laws with respect to those matters by including the
referred provisions in Acts enacted in the terms, or substantially in the
terms, of the tabled text (including laws containing provisions that authorise
the making of Corporations instruments that affect the operation of the
Corporations legislation, otherwise than by express amendment); and
(b) the
matters of the formation of corporations, corporate regulation and the
regulation of financial products and services, but only to the extent of the
making of laws with respect to those matters by making express amendments of
the Corporations legislation (including laws inserting or amending provisions
that authorise the making of Corporations instruments that affect the
operation of the Corporations legislation, otherwise than by
express amendment).
(2) The reference of a
matter under subsection (1) has effect only—
(a) if
and to the extent that the matter is not included in the legislative powers of
the Parliament of the Commonwealth (otherwise than by a reference under
section 51(xxxvii) of the Constitution of the Commonwealth ); and
(b) if
and to the extent that the matter is included in the legislative powers of the
Parliament of the State.
(3) The operation of
each paragraph of subsection (1) is not affected by the other paragraph.
(4) For the avoidance
of doubt, it is the intention of the Parliament of the State that—
(a) the
Corporations legislation may be expressly amended, or have its operation
otherwise affected, at any time on or after the commencement day by provisions
of Commonwealth Acts the operation of which is based on legislative powers
that the Parliament of the Commonwealth has apart from the references; and
(b) the
Corporations legislation may have its operation affected, otherwise than by
express amendment, at any time on or after the commencement day by provisions
of Corporations instruments; and
(c)
the references are not made subject to any condition relating to—
(i)
the express amendment or affecting of the
Corporations legislation by provisions referred to in paragraph (a); or
(ii)
the affecting of the Corporations legislation by
provisions referred to in paragraph (b).
(5) Despite any other
provision of this section, a reference has effect for a period—
(a)
beginning at the beginning of the commencement day; and
(b)
ending at the beginning of the day on which it terminates as set out in
section 5,
but not longer.