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 10.2.68   AUDITOR'S REPORT ON CERTAIN MATTERS: FINANCIAL SERVICES LICENSEE WHO FORMERLY HELD A FUTURES BROKER'S LICENCE  

10.2.68(1)   [ Application]  

For section 1444 of the Act, this regulation applies in relation to a financial services licensee:

(a) who is a regulated principal mentioned in item 3 of the table in section 1430 of the Act; and

(b) whose financial services licence covers regulated activities for a regulated principal of that kind.

10.2.68(2)   [ Auditor to give report on certain matters]  

Section 990K of the Act applies in relation to an auditor of a financial services licensee mentioned in subregulation (1) as if subsection 990K(2) required the auditor to give a report on any matter that, in the opinion of the auditor:

(a) adversely affected the ability of the licensee to meet its obligations as a futures broker before the time that it became a financial services licensee in relation to the regulated activities mentioned in item 3 of the table in section 1430 of the Act; or

(b) constitutes, or may constitute, a contravention of the condition of the futures brokers licence held by the licensee before the time that it became a financial services licensee in relation to the regulated activities mentioned in item 3 of the table in section 1430 of the Act; or

(c) constitutes, or may constitute, a contravention of section 1209, 1213 or 1214 of the old Corporations Act.