Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 (8 of 2022)

Schedule 8   Minor and technical amendments Spring 2021

Part 1   Amendments commencing day after Royal Assent

Corporations Act 2001

14   In the appropriate position in Chapter 10

Insert:

Part 10.62 - Application provisions relating to Schedule 8 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022

1689 Definitions

In this Part:

amending Part means Part 1 of Schedule 8 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022.

commencement day means the day the amending Part commences.

1690 Application of paragraph 912D(3)(e)

(1) Paragraph 912D(3)(e), as inserted by the amending Part, applies in relation to a reportable situation that arises on or after 1 October 2021 and relates to a breach of an obligation referred to in that paragraph.

(2) If:

(a) due to subsection (1), a financial services licensee is required, under a provision of Division 3 of Part 7.6, to do a thing in relation to a reportable situation that arose before the commencement day; and

(b) that thing must be done within a period of a specified number of days after the licensee first knows about, or is reckless with respect to, particular matters; and

(c) that period began before the commencement day;

then that requirement is taken to be a requirement to do the thing within the specified number of days after the commencement day.

1691 Application of subsection 912D(6)

Subsection 912D(6), as inserted by the amending Part, applies in relation to a reportable situation that arises on or after the commencement day.

1692 Saving of regulation 7.6.04A of the Corporations Regulations 2001

Regulation 7.6.04A of the Corporations Regulations 2001, as in force immediately before the commencement day, has effect, on and after the commencement day, as if the regulation had been made for the purposes of paragraph 916F(1AA)(1)(d) as inserted by the amending Part.