Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 24 - Transitional matters under relevant old legislation: Insurance Act 1973  

REGULATION 10.2.119   INSURERS CARRYING ON CLASS OF INSURANCE BUSINESS  

10.2.119(1)   [ Continued application of certain provisions]  

For section 1444 of the Act, section 113 of the Insurance Act 1973 , as in force immediately before the FSR commencement, and any associated provisions, continue to have effect in relation to a regulated principal:

(a) mentioned in item 6 of the table in section 1430 of the Act; and

(b) who carries on a class of insurance business that was prescribed for section 113 of the Insurance Act 1973 immediately before the FSR commencement;

to the extent necessary to require the person to comply with that section in relation to the class of insurance business.

10.2.119(2)   [ Limitation]  

Subregulation (1) ceases to apply in relation to the regulated principal at the end of the transition period in relation to the regulated principal.