Div 8 inserted by No 40 of 2019, s 3 and Sch 4 item 8, effective 5 July 2019. No 40 of 2019, s 3 and Sch 4 items 13
-
15 contain the following application and transitional provisions:
13 Definitions
13
In this Part:
commencement day
means the day on which this Schedule commences.
14 Treatment of persons holding a controlling stake in an RSE licensee before the commencement day
14(1)
This item applies if:
(a)
a person holds a controlling stake in an RSE licensee immediately before the commencement day; and
(b)
the person continues to hold a controlling stake in the RSE licensee on, or on and after, the commencement day.
14(2)
For the purposes of the
Superannuation Industry (Supervision) Act 1993
, the person is taken to have approval under section
29HD
to hold a controlling stake in the RSE licensee during the period:
(a)
beginning on the commencement day; and
(b)
ending when the period during which the person holds a controlling stake in the RSE licensee is broken.
15 Holding a controlling stake without approval
15
Section
29JCB
of the
Superannuation Industry (Supervision) Act 1993
, as inserted by item 9 of this Schedule, applies where a person begins to hold a controlling stake in an RSE licensee on or after the day that is 3 months after the commencement day.
Div 8 repealed by No 117 of 2012, s 3 and Sch 2 item 25, effective 9 September 2012.
Div 8 inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.