Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 15 - Other provisions relating to conduct etc  

REGULATION 10.2.56   MONEY OTHER THAN LOANS: FINANCIAL SERVICES LICENSEE WHO CEASES TO BE LICENSED  

10.2.56(1)   [ Application]  

For section 1444 of the Act, this regulation applies in relation to money held by a financial services licensee in an account maintained under any of the following provisions:

(a) section 866 of the old Corporations Act;

(b) section 1209 of the old Corporations Act;

(c) section 26 of the Insurance (Agents and Brokers) Act 1984 .

10.2.56(2)   [ Money in account]  

If any of paragraphs 981F (a) to (d) of the Act applies to the financial services licensee, any money held by the financial services licensee in an account mentioned in subregulation (1) is to be dealt with as if it were held by the licensee in an account maintained for section 981B of the Act.