Financial Framework (Supplementary Powers) Amendment Act 2024 (27 of 2024)

Schedule 1   Amendments

Part 4   Validation and saving provisions

22   Validation - formation of company etc.

(1) This item applies if, at a time before the commencement of this item (the relevant time ):

(a) the Commonwealth purported to form, or participate in the formation of, a company under section 39B of the Financial Framework (Supplementary Powers) Act 1997 as in force at the relevant time (the old Act ); and

(b) the Commonwealth did not (apart from this item) have the power under section 39B of the old Act to form, or participate in the formation of, the company merely because it had the power to do so apart from subsection (1) of that section.

(2) The Commonwealth is taken to have had, at the relevant time, the power under section 39B of the old Act to form, or participate in the formation of, the company even though it had the power to do so apart from subsection (1) of that section.