Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 2 - Transitional arrangements relating to business rules or listing rules  

Subdivision 2.1 - Business rules  

REGULATION 10.2.04   AMENDMENT OF SCH BUSINESS RULES BEFORE FSR COMMENCEMENT  

10.2.04(1)   [ Application]  

This regulation applies if:

(a) an amendment was made, by way of rescission, alteration or addition, to the SCH business rules before the FSR commencement; and

(b) written notice of the amendment was given in accordance with subsection 779C(1) of the old Corporations Act before the FSR commencement; and

(c) the period of 28 days in relation to the amendment, mentioned in subsection 779C(5) of the old Corporations Act, had not expired before the FSR commencement; and

(d) the Minister had not decided, before the FSR commencement, whether to disallow the whole or a specified part of the amendment under subsection 779C(5) of the old Corporations Act.

Note: The period of 28 days in paragraph (c) is the period in which the Minister may disallow the whole or a specified part of the amendment.

10.2.04(2)   [ Section 822E]  

On and after the FSR commencement, section 822E of the Act has effect in relation to the amendment as if the amendment were a change to the operating rules of a licensed CS facility mentioned in section 822D of the Act.

10.2.04(3)   [ How provisions apply]  

For subregulation (2):

(a) the securities clearing house is to be treated, under sections 822D and 822E of the Act, as a licensed CS facility that has lodged written notice of the change with ASIC; and

(b) ASIC is taken to have complied with its obligations to the Minister under section 822E of the Act; and

(c) the Minister is taken to have been given the notice of the change on the day on which written notice of the amendment was given in accordance with subsection 779C(1) of the old Corporations Act.