Treasury Laws Amendment (2021 Measures No. 5) Act 2021 (127 of 2021)

Schedule 3   Miscellaneous and technical amendments

Part 3   Other amendments

Division 3   Amendments of the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020

Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020

101   Item 359 of Schedule 1

Repeal the item, substitute:

359 In the appropriate position

Insert:

Schedule 4 - Transitional provisions relating to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020

1 Definitions

In this Schedule:

amending item means an item of Part 2 of Schedule 1 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 that amends a provision of the Business Names Registration Act or this Act.

commencement day , for an amending item, means the day the amending item commences.

Note: Amendments of provisions of the Business Names Registration Act or this Act made by an amending item apply on and after the commencement day for the amending item.

2 Liability for damages

Section 78 of the Business Names Registration Act, as in force immediately before the commencement day for amending item 322, continues to apply, on and after that day, in relation to an act done or omitted to be done:

(a) before that day by ASIC or a person mentioned in paragraphs (c) to (e) of that section; or

(b) on and after that day by ASIC, or a person mentioned in paragraphs (c) to (e) of that section, in accordance with item 4 of this Schedule.

3 Notice nominating or withdrawing nomination of principal contact

A notice that:

(a) nominates, or withdraws the nomination of, a person as the principal contact in relation to an entity under section 82, 84, 86 or 87 of the Business Names Registration Act; and

(b) is lodged with ASIC before the day that section is amended by an amending item;

continues in force (and may be dealt with) on and after that day as if the notice had been lodged with the Registrar.

4 Things started but not finished by ASIC

If:

(a) before the commencement day for an amending item that amends a provision of the Business Names Registration Act or Schedule 1 to this Act, ASIC started doing a thing under the provision as in force immediately before that day; and

(b) immediately before that day, ASIC had not finished doing that thing;

(c) on and after that day, that thing falls within the powers or functions of the Registrar;

then, on and after that day:

(d) ASIC may finish doing the thing as if the thing were being done by the Registrar in the performance or exercise of the Registrar's functions or powers; or

(e) if ASIC does not finish doing the thing under paragraph (c) - the Registrar may finish doing the thing in the performance or exercise of the Registrar's functions or powers.