Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.48 - APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 7 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020  

SECTION 1675C   APPLICATION DURING TRANSITION PERIOD  

1675C(1)    
Despite section 1675A , a claims handling and settling service provided by or on behalf of a person during the transition period for that person is not to be treated as a financial service, except for the purposes of:

(a)    section 912C ; and

(b)    section 912CA ; and

(c)    section 912E .

1675C(2)    
Nothing in this section prevents:

(a)    a financial services licensee from giving a person a notice under section 916A during the transition period for the licensee authorising the person to provide claims handling and settling services after the end of that transition period; or

(b)    an authorised representative of a financial services licensee giving an individual written notice under section 916B during the transition period for the licensee authorising that individual to provide specified claims handling and settling services or claims handling and settling services on behalf of the licensee after the end of the transition period for the authorised representative.