Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 8 - National Guarantee Fund  

REGULATION 10.2.27A   EXPENDITURE OF EXCESS FUNDS FROM NATIONAL GUARANTEE FUND  

10.2.27A(1)   [ Application]  

For section 1444 of the Act, this regulation applies to a purpose in relation to a payment to be made out of a development account if:

(a) the purpose was approved under subsection 945(3) of the old Corporations Act; and

(b) the approval was in force immediately before the FSR commencement.

10.2.27A(2)   [ Approved purpose]  

The purpose is taken to be an approved purpose for subregulation 7.5.88(1) .

10.2.27A(3)   [ Conditions of Minister's approval]  

If the purpose approved under subsection 945(3) of the old Corporations Act included conditions relating to the payment to which the approval related, the conditions are taken to be conditions determined under subregulation 7.5.88(3) .