Contents (2009 - 7)
Associations Incorporation Act 2009 No 7
95 Excluded matters
(1) An association is declared to be an excluded matter for the purposes of section 5F of the Corporations Act 2001 of the Commonwealth in relation to the whole of the Corporations legislation.Note.This section ensures that neither the Corporations Act 2001 of the Commonwealth, nor the Australian Securities and Investments Commission Act 2001 of the Commonwealth, will apply to an association other than to the extent specified in this section. Section 5F of the Corporations Act 2001 provides that if a State law declares a matter to be an excluded matter in relation to the whole of the Corporations legislation, other than to a specified extent, then that legislation will apply, except to the specified extent, in relation to that matter in the State concerned. However, other provisions of this Act provide for the application of provisions of the Corporations legislation to associations as laws of the State.(2) Subsection (1) does not exclude the application of the following provisions of the Corporations legislation to an association to the extent to which those provisions would otherwise be applicable to the association:(a) provisions relating to the role of an association in the formation of a company,(b) provisions relating to the registration of an association as a company under Chapter 5B of the Corporations Act 2001 of the Commonwealth,(c) provisions relating to substantial shareholdings, by or involving an association, in a company,(d) provisions conferring or imposing functions on an association as a member, or former member, of a corporation,(e) provisions relating to dealings by an association in financial products of a corporation,(f) provisions conferring or imposing functions on an association in its dealings with a corporation,(g) provisions relating to any of the following activities of an association:(i) the activity of operating, or being concerned in the operation of, a managed investment scheme,(ii) the activity of providing advice about, or dealing in, insurance,(iii) any activity regulated by or under Chapter 2L (Debentures), Part 5.7 (Winding up bodies other than companies), Chapter 6D (Fundraising) or Chapter 7 (Financial services and markets) of the Corporations Act 2001 of the Commonwealth.(3) To avoid doubt, it is declared that subsection (1) does not operate to exclude the operation of:(a) Chapter 2F, 2L, 5C, 6D or 7 or section 1324 of the Corporations Act 2001 of the Commonwealth, or(b) Part 1, 2 or 3 of the Australian Securities and Investments Commission Act 2001 of the Commonwealth to the extent necessary to enforce the provisions of the Corporations legislation referred to in subsection (2) (a)–(g) and in paragraph (a) of this subsection.(4) In this section, the Corporations legislation means the Corporations legislation, within the meaning of the Corporations Act 2001 of the Commonwealth, to which Part 1.1A of that Act applies.