New South Wales Repealed Regulations

This legislation has been repealed.

GRAIN MARKETING REGULATION 2001 - NOTES

Note:

The Regulation was repealed by sec 10 (2) of the Subordinate Legislation Act 1989 No 146 with effect from 1.9.2008.

Her Excellency the Governor, with the advice of the Executive Council, has made the following Regulation under the Grain Marketing Act 1991.
Minister for Agriculture

Explanatory note

Section 4B of the Grain Marketing Act 1991 (as inserted by the Corporations (Consequential Amendments) Act 2001) provides for the continued application of the Corporations Law and ASIC Law of this State to matters dealt with by the Grain Marketing Act 1991 to which those Laws applied of their own force immediately before the commencement of the Corporations Act 2001 of the Commonwealth. The section declares these matters to be excluded matters for the purposes of section 5F of the Corporations Act 2001 of the Commonwealth so that the provisions of the federal corporations legislation do not apply to those matters in this State. The section also provides that the continued application of the Corporations Law and ASIC Law is subject to any modifications to those Laws prescribed by the regulations.
The object of this Regulation is to prescribe modifications to the Corporations Law and ASIC Law:

(a) to ensure that references in the Laws to the Australian Securities and Investments Commission are read as references to the Minister because the Commission can no longer carry out functions under those Laws, and

(b) to require the Minister's written consent to the appointment of a liquidator or provisional liquidator of the NSW Grains Board under the Corporations Law, and

(c) to ensure that a certain deed is not to be treated as a voidable transaction under the Corporations Law in the winding up of the Board and that the provisions of section 568 of the Corporations Law relating to the disclaimer of onerous property does not apply to that deed.

Historical notes

The following abbreviations are used in the Historical notes:

Table of amending instruments