Corporations Regulations 2001

CHAPTER 12 - FINANCIAL SECTOR REFORM  

PART 12.7 - OTHER DISCLOSURE  

Division 2 - Continued application of certain provisions  

REGULATION 12.7.05   EXEMPTION FROM, AND MODIFICATION OF, CERTAIN PROVISIONS  

12.7.05(1)   [ Application]  

This regulation applies, in the circumstances to which Prudential Standard 6.8.3 referred immediately before the transfer date, on:

(a) the initiative of ASIC; or

(b) application made to ASIC in writing by a person to whom Division 3 of Part 7.3 of the Act, or regulation 7.3.13A or 7.3.13B, applies or another person.

12.7.05(2)   [ Declaration by Gazette notice]  

ASIC may, by Gazette notice, declare:

(a) that Division 3 of Part 7.3 of the Act, or regulation 7.3.13A or 7.3.13B, does not apply to a person to whom the declaration applies; and

(b) that a provision mentioned in paragraph (a) applies to a person to whom the declaration applies as if the provision were modified in accordance with the declaration.

12.7.05(3)   [ Application subject to declaration]  

Division 3 of Part 7.3 of the Act, and regulations 7.3.13A and 7.3.13B, apply subject to a declaration applying in relation to that Division or regulation.

12.7.05(4)   [ Conditions and effective date]  

A declaration:

(a) may be made subject to a condition stated in the exemption; and

(b) takes effect on the day on which it is published.