Companies (Application of Laws) (State Superannuation Board Prescribed Interests) Regulations 1983 (NSW)

Companies (Application of Laws) (State Superannuation Board Prescribed Interests) Regulations 1983

[1983-020]

Status information

Currency of version
Repealed version for 2 September 1983 to 30 June 2008 (accessed 11 July 2019 at 01:58)
Legislation on this site is usually updated within 3 working days after a change to the legislation.

Provisions in force
The provisions displayed in this version of the legislation have all commenced. See Historical Notes

Note:
The Regulations were impliedly repealed by repeal of the Companies (Application of Laws) Act 1981 by Sch 4 to the Statute Law (Miscellaneous Provisions) Act 2008 No 62 with effect from 1.7.2008.

Authorisation
This version of the legislation is compiled and maintained in a database of legislation by the Parliamentary Counsel's Office and published on the NSW legislation website, and is certified as the form of that legislation that is correct under section 45C of the Interpretation Act 1987.

File last modified 1 July 2008.

Companies (Application of Laws) (State Superannuation Board Prescribed Interests) Regulations 1983

[1983-020]

Contents

Companies (Application of Laws) (State Superannuation Board Prescribed Interests) Regulations 1983

1   Name of Regulations

These Regulations may be cited as the Companies (Application of Laws) (State Superannuation Board Prescribed Interests) Regulations 1983.

2   Definitions

(1)  In these Regulations:

Board means the State Superannuation Board constituted by the Superannuation Act 1916.

the Code means the Companies (New South Wales) Code.

(2)  A reference in these Regulations to a deed shall be read as including a reference to any instrument amending or affecting the deed.

3   Declaration of exempt right or interest—Division 6 of Part IV of the Code

(1)  Pursuant to section 16 (2) of the Companies (Application of Laws) Act 1981, a right or interest:

(a)  which the Board issues to the public, offers to the public for subscription or purchase or invites the public to subscribe for or purchase, and

(b)  which would, were it not declared by this clause to be an exempt right or interest for the purposes of Division 6 of Part IV of the Code, be a prescribed interest,

is declared to be an exempt right or interest for the purposes of Division 6 of Part IV of the Code, subject to the conditions specified in clause (2).

(2)  The conditions subject to which a right or interest which the Board issues to the public, offers to the public for subscription or purchase or invites the public to subscribe for or purchase is declared pursuant to clause (1) to be an exempt right or interest are that:

(a)  at the time of the issue, offer or invitation, there is in force, in relation to the right or interest, a deed that is approved of by the Commission or the State Commission,

(b)  the Board does not, in any deed, prospectus, statement, advertisement or other document relating to the right or interest, make any reference to the approval by the Commission or the State Commission of a deed or of a trustee or representative of the holders of a right or interest to which a deed relates,

(c)  the Board does not fail to comply with a covenant contained in a deed in respect of which there is an approval as referred to in paragraph (a),

(d)  neither the Board nor an agent of the Board issues to the public, offers to the public for subscription or purchase, or invites the public to subscribe for or purchase, the right or interest unless:

(i)  a statement in writing in relation to the right or interest has been lodged with the State Commission, and

(ii)  the Commission or the State Commission certifies that it is satisfied that if the Board were a public company and the right or interest were not declared by clause (1) to be an exempt right or interest, and having regard to the provisions of section 170 of the Code, the Commission would be entitled to register the statement under Division 1 of Part IV of the Code, and

(e)  the Board complies with sections 166 (3), 172 and 173 of the Code in the same manner as it would be required to comply with those sections if it were a public company and the right or interest were not declared by clause (1) to be an exempt right or interest.

(3)  For the purposes of compliance by the Board with the provisions of the Code referred to in clause (2) (e):

(a)  the Board shall be deemed to be a public company,

(b)  a reference in section 166 (3) of the Code to approval of a deed under section 166 of the Code shall be read and construed as a reference to approval of a deed by the Commission or the State Commission, as the case may be, as referred to in clause (2) (a), and

(c)  those provisions shall be read and construed as if a reference in them:

(i)  to an approved deed were a reference to a deed in respect of which there is an approval in force as referred to in clause (2) (a), and

(ii)  to a management company were a reference to the Board.

Historical notes

The following abbreviations are used in the Historical notes:

Am	amended	LW	legislation website	Sch	Schedule
Cl	clause	No	number	Schs	Schedules
Cll	clauses	p	page	Sec	section
Div	Division	pp	pages	Secs	sections
Divs	Divisions	Reg	Regulation	Subdiv	Subdivision
GG	Government Gazette	Regs	Regulations	Subdivs	Subdivisions
Ins	inserted	Rep	repealed	Subst	substituted

Table of amending instruments

Companies (Application of Laws) (State Superannuation Board Prescribed Interests) Regulations 1983 published in Gazette No 122 of 2.9.1983, p 4059.