Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.2 - TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SERVICES REFORM ACT 2001  

Division 1 - Transitional provisions relating to the phasing-in of the new financial services regime  

Subdivision A - Preliminary  

SECTION 1410   DEFINITIONS  

1410(1)   [ Definitions]  

In this Division, unless the contrary intention appears:

amended Corporations Act
means this Act as in force after the FSR commencement.

associated provisions
, in relation to provisions (the core provisions ) of a particular Act as in force at a particular time, include (but are not limited to):

(a) any regulations or other instruments that are or were in force for the purposes of any of the core provisions at that time; and

(b) any interpretation provisions that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and

(c) any provisions relating to liability (civil or criminal) that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and

(d) any provisions that limit or limited, or that otherwise affect or affected, the operation of any of the core provisions at that time (whether or not they also limit or limited, or affect or affected, the operation of other provisions).

class
, in relation to financial products, has a meaning affected by regulations made for the purposes of subsection (2).

FSR commencement
means the commencement of item 1 of Schedule 1 to the Financial Services Reform Act 2001 .

old Corporations Act
means this Act as in force immediately before the FSR commencement.

regulated activities
, in relation to a regulated principal, has the meaning given by section 1430.

regulated principal
has the meaning given by section 1430.

relevant old legislation,
in relation to a regulated principal, has the meaning given by section 1430.

transition period :

(a) in relation to a market to which section 1414, 1418, 1420, 1421 or 1422 applies - has the meaning given by subsection (2) of that section; and

(b) in relation to a market to which section 1417 applies and the additional products referred to in that section - has the meaning given by subsection 1417(2); and

(c) in relation to a clearing and settlement facility to which section 1426 or 1429 applies - has the meaning given by subsection (2) of that section; and

(d) in relation to a clearing and settlement facility to which section 1428 applies and the additional products referred to in that section - has the meaning given by subsection 1428(2); and

(e) in relation to a regulated principal - has the meaning given by subsection 1431(1); and

(f) in relation to a financial product to which section 1438 applies - has the meaning given by subsection (3) of that section.

1410(1A)   [ Other definitions]  

Other expressions used in this Part that are defined in Division 2 of Part 7.1 have the same meanings as they are given by that Division. This has effect subject to:

(a) any contrary intention in a provision of this Part; or

(b) regulations made for the purposes of this paragraph.

1410(2)   [ Regulations identifying ``class'' of financial products]  

The regulations may include provisions identifying, or providing for the identification of, what constitutes a class of financial products for the purposes of a provision or provisions of this Division.

1410(3)   [ Preserved provisions]  

If a provision of this Division (the transitional provision ) provides for a provision of this or another Act (the preserved provision ), as in force immediately before the FSR commencement, to continue to apply to or in relation to a person, thing or matter:

(a) the preserved provision so continues to apply only to the extent (if any) to which it is expressed in terms that cover the person, thing or matter; and

(b) the transitional provision is not taken to extend the scope of the preserved provision (otherwise than by giving it a continued operation).