Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981

Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981

An Act relating to the interpretation of certain provisions relating to corporations and the securities industry, and for certain other matters

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

1.   Short title

This Act may be cited as the Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981 .

2.   Commencement

(1)  This section and section 1 shall commence on the date of assent to this Act.

(2)  Except as provided in subsection (1) , this Act shall commence on the day on which the National Companies and Securities Commission (State Provisions) Act 1981 commences.

3.   Interpretation

In this Act, unless the contrary intention appears –

Agreement means the agreement made on 22nd December 1978 between the Commonwealth and the States in relation to a proposed scheme for the co-operative regulation of companies and the securities industry or, if that agreement is or has been amended or affected by another agreement, that agreement as so amended or affected;

Code means the provisions of an Act passed by the Parliament of the Commonwealth pursuant to the Agreement as in force for the time being, being provisions applying, by reason of an Act passed by the Parliament of Tasmania pursuant to the Agreement, as laws of Tasmania;

Ministerial Council means the Ministerial Council for Companies and Securities established by the Agreement;

Tasmania means the State of Tasmania and its Dependencies;

the Commonwealth Act means the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 of the Commonwealth as amended and in force for the time being.

4.   Relevant Codes

(1)  For the purposes of this Act, each of the following Codes is a relevant Code:

(a) the Companies and Securities (Interpretation and Miscellaneous Provisions) (Tasmania) Code ;

(b) the Companies (Acquisition of Shares) (Tasmania) Code ; and

(c) any Code to which this Act applies by reason of a relevant application provision in an Act.

(2)  For the purposes of subsection (1) , a provision in an Act is a relevant application provision in relation to a Code if the provision states that this Act applies to the Code concerned.

5.    National Companies and Securities Commission (State Provisions) Act 1981

For the purposes of this Act, a reference to a relevant Code includes a reference to the provisions of the National Companies and Securities Commission (State Provisions) Act 1981 other than sections 1 , 2 , 3 , 4 , 20 , 21 , and 22 .

6.   Act to bind Crown

This Act binds the Crown.

7.   Interpretation of relevant Codes

Except in relation to matters expressly provided for by this Act and subject to any express provision contained in a relevant Code, the laws in force in the Australian Capital Territory at the commencement of the Commonwealth Act that relate to the interpretation of Ordinances of the Australian Capital Territory –

(a) apply for the purposes of the interpretation of each relevant Code as if the relevant Code were an Ordinance of the Australian Capital Territory; and

(b) apply for the purposes of the interpretation of any instrument (including rules, regulations, or by-laws) made, granted, or issued under or, in the case of regulations, applying as regulations made under, a relevant Code as if the instrument were made, granted, or issued under such an Ordinance.

8.   Application of interpretation law

The provisions of the Commonwealth Act (other than sections 1 , 2 , 3 , 4 , and 5 ) apply –

(a) as if amended as set out in Schedule 1 ; and

(b) subject to and in accordance with this Act –

as laws of Tasmania.

9.   Publication of Companies and Securities (Interpretation and Miscellaneous Provisions) (Tasmania) Code

(1)  The Minister may from time to time authorize the publication by the Government Printer of the provisions of the Commonwealth Act (other than sections 1 , 2 , 3 , 4 , and 5 ), amended as set out in Schedule 1 and in operation, or to come into operation, in Tasmania.

(2)  A document published under subsection (1) –

(a) shall include the headings and sections set out in Schedule 2 ;

(b) shall include a notification of the date, or dates, on which the several provisions set out in the document came, or come, into operation in Tasmania;

(c) shall include a statement of the date on which the Minister authorized the publication; and

(d) may be cited as the Companies and Securities (Interpretation and Miscellaneous Provisions) (Tasmania) Code .

(3)  A document that is or purports to be a copy of the Companies and Securities (Interpretation and Miscellaneous Provisions) (Tasmania) Code that has been, or purports to have been, published in accordance with this section is prima facie evidence of the provisions of the Commonwealth Act applying by reason of section 8 as in operation, or to come into operation, in Tasmania as notified in the document in accordance with paragraph (b) of subsection (2) .

10.   Publication of provisions of amended code

(1)  The Minister may from time to time authorize the publication by the Government Printer of a document setting out provisions that by reason of –

(a) the enactment of an Act of the Commonwealth amending the Commonwealth Act ; and

(b) the operation of section 8 (including the operation, if applicable, of Schedule 1 ) –

apply, or will apply, as laws of Tasmania.

(2)  A document published under subsection (1) shall include a notification of the date, or dates, on which the provisions set out in the document came, or come, into operation in Tasmania.

(3)  A document that has been or purports to have been published in accordance with this section is prima facie evidence of provisions referred to in subsection (1) set out in the document.

11.   Interpretation of references to applied provisions

(1)  Unless the contrary intention appears, in this or any other Act or in a regulation or other instrument made under any other Act or in any other document made by or under the authority of, or for the purposes of, a law of Tasmania –

(a) a reference to the Companies and Securities (Interpretation and Miscellaneous Provisions) (Tasmania) Code is a reference to the provisions of the Commonwealth Act applying by reason of section 8 ; and

(b) a reference to a provision of that Code is a reference to the corresponding provision of the Commonwealth Act as so applying.

(2)  [Section 11 Subsection (2) amended by No. 9 of 1982, s. 6 and Sched. 7 ]In subsection (1) , provision includes Part, Division, section, subsection, paragraph, subparagraph, Schedule, form, regulation, clause, subclause, or other division.

12.   Amendment of certain provisions in accordance with approval of Ministerial Council

Where, under the Agreement, the Ministerial Council –

(a) approves a proposed amendment of the Commonwealth Act ; and

(b) approves proposed regulations to be made under this Act in connection with the operation of the proposed amendment –

the Governor may make regulations amending Schedule 1 in accordance with that approval, and that Schedule as so amended shall be Schedule 1 to this Act.

SCHEDULE 1 - Application of Provisions of Commonwealth Act

Section 8

SCHEDULE 2 - Headings and Sections for Inclusion in Publication of Code

Section 9