Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006 (125 of 2006)

Schedule 3   Transitional provisions

Part 2   Bringing transitional corporations across to new system

Division 8   Related party benefits

49   Related party benefits

(1) Part 6-6 of the new Act does not apply in relation to a transitional corporation in relation to a financial benefit if:

(a) the corporation, or an entity that the corporation controls, is required to give a financial benefit under a contract; and

(b) the contract was made before commencement; and

(c) the provisions of the contract dealing with the requirement, or with related matters, have not been modified after commencement.

(2) In subitem (1):

contract includes deed.