Corporations Amendment Regulations 2003 (No. 3) (85 of 2003)

Schedule 1   Amendments

[10]   After regulation 12.7.05

insert

12.7.06 Certain provisions of the Friendly Societies Code cease to apply to FSR licensee

(1) For clause 39 of Schedule 4 to the Act, the provisions of subclause 36 (1) of Schedule 4 cease to apply to a body to which Schedule 4 to the Act applies on the earlier of:

(a) 2 years after the FSR commencement; and

(b) the body giving notice under paragraph 1438 (3) (b) of the Act that the body wants the new product disclosure provisions to apply in relation to specified products issued by the body.

(2) Subregulation (1) takes effect from the date specified in the notice as the date from which the new product disclosure provisions will apply.

Notes

1. These Regulations amend Statutory Rules 2001 No. 193, as amended by 2001 Nos. 208, 318 and 319 (rr 7.9.10 and 7.9.11 were disallowed by the Senate on 16 September 2002); 2002 Nos. 15, 16 (rr 7.9.10, 7.9.11 (1), 7.9.11 (1) (a), 7.9.11 (1) (b) and 7.9.11 (2) were disallowed by the Senate on 16 September 2002), 41, 53, 126, 145, 182, 265 and 282; 2003 Nos. 31 and 48.

2. Notified in the Commonwealth of Australia Gazette on 8 May 2003.