Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 47 - Agreements with unlicensed persons relating to the provision of financial services  

REGULATION 10.2.210   AGREEMENTS  

10.2.210(1)   [ Application]  

For section 1444 of the Act, this regulation applies if:

(a) a person ( person 1 ) enters into an agreement with another person ( person 2 ) in the course of an activity conducted by person 2; and

(b) at that time, Part 7.6 of the Act does not apply to person 2 in relation to the activity; and

(c) the activity would constitute carrying on a financial services business if Part 7.6 of the Act applied to person 2 in relation to the activity; and

(d) the agreement is not completed when Part 7.6 of the Act first applies to person 2 in relation to the activity; and

(e) when Part 7.6 of the Act first applies to person 2 in relation to the activity, person 2:

(i) does not hold an Australian financial services licence covering the activity; and

(ii) is not exempt from the requirement to hold that licence.

10.2.210(2)   [ Application]  

Division 11 of Part 7.6 of the Act applies in relation to the agreement to the extent that that Division is not inconsistent with Division 2 of Part 7.3 of the old Corporations Act.