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 10.2.59   OTHER PROPERTY OF CLIENTS: FINANCIAL SERVICES LICENSEE WHO FORMERLY HELD FUTURES BROKER'S LICENCE  

10.2.59(1)   [ Application]  

For section 1444 of the Act, this regulation applies in relation to a financial services licensee who is a regulated principal mentioned in item 3 of the table in section 1430 of the Act, and whose licence covers regulated activities for a regulated principal of that kind, in relation to property:

(a) received by the person before the end of the transition period in relation to the person in the capacity of a regulated principal of that kind; and

(b) to which section 1209 or 1214 of the old Corporations Act applied.

10.2.59(2)   [ Continued application of previous provisions]  

Sections 1209 and 1214 of the old Corporations Act, and any associated provisions, continue to apply in relation to the regulated principal after the end of the transition period in relation to:

(a) the person in the capacity of a regulated principal of that kind; and

(b) the property;

as if the licensee were a futures broker within the meaning of the old Corporations Act.