Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.35A - TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 2 TO THE TREASURY LAWS AMENDMENT (REGISTRIES MODERNISATION AND OTHER MEASURES) ACT 2020  

SECTION 1653   DIRECTOR IDENTIFICATION NUMBERS  

1653(1)    
Part 9.1A applies on and after the day (the application day ) the Minister appoints, under section 1270 :

(a)    a Commonwealth body to be the Registrar; or

(b)    if more than one such body is appointed - such a body with functions and powers in connection with Part 9.1A .

1653(2)    
If a person was an eligible officer immediately before the application day:

(a)    if a period (the transitional application period ) is specified under subsection (3) of this section - section 1272C applies to the person as if:

(i) the reference in subparagraph 1272C(2)(a)(ii) to an application period specified by regulations were instead a reference to the transitional application period; and

(ii) references in paragraph 1272C(2)(a) to the day the person first became an eligible officer (or an eligible officer within the meaning of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 ) were instead references to the day the transitional application period came into effect; and

(b)    until the transitional application period comes into effect - section 1272C does not apply to the person.

1653(3)    
The Minister may, by legislative instrument, specify the transitional application period for the purposes of subsection (2).

1653(4)    

If a person:

(a)    was not an eligible officer immediately before the application day; and

(b)    becomes an eligible officer within the 12 month period starting on the application day;

section 1272C applies to the person as if a period of 28 days were the application period specified in regulations made for the purposes of subparagraph 1272C(2)(a)(ii) .