Treasury Laws Amendment (2017 Measures No. 3) Act 2017 (75 of 2017)

Schedule 1   Validation of agreements to employ staff or engage consultants

Corporations Act 2001

10   Paragraphs 1401(1)(a) and (b)

Repeal the paragraphs, substitute:

(a) was:

(i) acquired, accrued or incurred under a provision of the old corporations legislation of a State or Territory in this jurisdiction that was no longer in force immediately before the commencement; and

(ii) in existence immediately before the commencement; or

(b) would have been:

(i) acquired, accrued or incurred under such a provision; and

(ii) in existence immediately before the commencement;

if every agreement that was valid only because of section 249 of the ASIC Act had been a valid agreement without the application of that section.