Corporations (Commonwealth Powers) (Reference Period Extension) Proclamation 2016 (NSW)

New South Wales

Corporations (Commonwealth Powers)

(Reference Period Extension) Proclamation

2016

under the

Corporations (Commonwealth Powers) Act 2001

DAVID HURLEY, Governor

I, General The Honourable David Hurley AC DSC (Ret’d), Governor of New South Wales, with the advice of the Executive Council, and in pursuance of section 6 of the Corporations (Commonwealth Powers) Act 2001, make the following Proclamation.

Signed and sealed at Sydney, this 8th day of June 2016.

By His Excellency’s Command,

GABRIELLE UPTON, MP
Attorney General

GOD SAVE THE QUEEN!

Corporations (Commonwealth Powers) (Reference Period Extension) Proclamation 2016 [NSW]

Corporations (Commonwealth Powers) (Reference Period

Extension) Proclamation 2016

under the

Corporations (Commonwealth Powers) Act 2001

1      Name of Proclamation

This Proclamation is the Corporations (Commonwealth Powers) (Reference Period
Extension) Proclamation 2016.

2      Commencement

This Proclamation commences on the day on which it is published on the NSW legislation website.

3      Extension of period of references

The 15th of July 2021 is fixed as the day on which both the references (within the meaning of the Corporations (Commonwealth Powers) Act 2001) terminate.

Explanatory note

Section 4 (1) (a) and (b) of the Corporations (Commonwealth Powers) Act 2001 (the Act) refer certain matters relating to corporations and financial products and services to the Parliament of the Commonwealth for the purposes of section 51 (xxxvii) of the Commonwealth Constitution.

Section 5 (1) of the Act originally set the termination date of those references as the fifth anniversary of the day of commencement of the Corporations Act 2001 of the Commonwealth and the Australian Securities and Investments Commission Act 2001 of the Commonwealth (the Corporations legislation). The Corporations legislation commenced on 15 July 2001.

Section 6 of the Act enables the references to be extended by proclamation. The period of the references was previously extended by proclamation to:

(a)	15 July 2011, and
(b)	15 July 2016.

The object of this Proclamation is to extend the period of the references set out in section 4 (1) (a) and (b) for an additional five years to 15 July 2021.