Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 17 - Arrangements relating to enforcement of matters by ASIC  

REGULATION 10.2.91   POWER TO ACT IN RELATION TO RELEVANT OLD LEGISLATION  

10.2.91(1)   [ Application]  

This regulation applies if an instrument or another matter continues in force, after the FSR commencement, in accordance with the relevant old legislation that relates to the instrument or matter.

Examples

1 A licence.

2 A licence condition.

3 A suspension of a registration.

Note: The relevant old legislation includes the old Corporations Act, associated provisions and, in some cases, other legislation such as the Insurance (Agents and Brokers) Act 1984 .

10.2.91(2)   [ ASIC's powers and functions]  

To avoid doubt:

(a) ASIC may exercise any of the powers, and perform any of the functions, that ASIC had immediately before the FSR commencement in relation to:

(i) a person to whom the instrument or matter applies; and

(ii) a representative of a person mentioned in subparagraph (i); and

(iii) any other person (including a person described in a capacity that came into existence, or in relation to an event that occurred, after the FSR commencement); and

(b) paragraph (a) includes the power:

(i) to issue an instrument; and

(ii) to execute an instrument.