Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 18 - Specific kinds of documents in existence before FSR commencement  

REGULATION 10.2.96   REGISTERS IN EXISTENCE BEFORE FSR COMMENCEMENT  

10.2.96(1)   [ Application]  

Subject to subregulation (3), this regulation applies if:

(a) a register was in existence, or was required to be in existence, under the relevant old legislation:

(i) before the FSR commencement; or

(ii) after the FSR commencement, but before the amended Corporations Act began to apply to a person's activities; and

(b) the register:

(i) is required to be maintained, after the FSR commencement, by a law other than this regulation; or

(ii) would have been required to be maintained, after the FSR commencement, by a provision of the relevant old legislation if the provision had continued in operation after the FSR commencement.

10.2.96(2)   [ Powers of person responsible for register]  

To avoid doubt:

(a) the person responsible for maintaining the register may exercise any of the powers, and perform any of the functions, that the person had immediately before the FSR commencement in relation to:

(i) a person whose details appear in the register; and

(ii) any other person to whom the register relates (including a person described in a capacity that came into existence after the FSR commencement); and

(b) paragraph (a) includes the power:

(i) to amend the register; and

(ii) to include new information in the register; and

(c) this regulation does not impose any obligation on the person to exercise any of the powers or perform any of the functions.

10.2.96(3)   [ Period of maintenance]  

The person must maintain the register for the same period of time, and in the same manner, that would have been required if the relevant old legislation had continued in force.