Grain Marketing Regulation 2001 (NSW)

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

1Name of Regulation

This Regulation is the Grain Marketing Regulation 2001.

2Definition

In this Regulation:

the Act means the Grain Marketing Act 1991.

3Notes

The explanatory note and notes in the text of this Regulation do not form part of this Regulation.

4Modification of the Corporations Law(1)

For the purposes of section 4B (3) of the Act, the following modifications to the Corporations Law and ASIC Law are prescribed:

• (a)

  any reference in the Corporations Law or the ASIC Law to the Commission or ASIC is to be read as a reference to the Minister,

• (b)

  a liquidator or provisional liquidator of the Board cannot be appointed under the Corporations Law unless the Minister consents in writing to that appointment,

• (c)

  the provisions of Division 2 of Part 5.7B of the Corporations Law are to be read as if they do not to apply in relation to the Grainco deed,

• (d)

  the provisions of section 568 of the Corporations Law are to be read as if they do not apply in relation to the Grainco deed.

Note—

Section 4B of the Act provides for the continued application of the Corporations Law and ASIC Law of this State to matters dealt with by the Act to which those Laws applied of their own force immediately before the commencement of the Corporations Act 2001 of the Commonwealth. Section 4B (3) provides that the Laws continue to so apply subject to any modifications prescribed by the regulations.

(2)

In this clause:

Grainco Deed means the deed entered into on 30 October 2000 by the Board, Grainco Australia Limited (ACN 070 878 241), the State of New South Wales and the Minister.