Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.44 - APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 11 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020  

SECTION 1671B  

1671B   APPLICATION OF SECTIONS 912DAA AND 912DAB  

Sections 912DAA and 912DAB , as inserted by item 5 of the amending Schedule, apply:

(a)    to the responsible entity of a registered scheme in relation to a breach of this Act that occurs before 1 October 2021, but in respect of which paragraph 601FC(1)(l) (as in force immediately before 1 October 2021) does not apply on or after 1 October 2021 (see subsection 1671A(1) ); and

(b)    to a financial services licensee in relation to a breach or likely breach of an obligation mentioned in paragraph 912D(1)(a) (as in force immediately before 1 October 2021) that occurs before 1 October 2021, but in respect of which subsections 912D(1) to (1D) (as in force immediately before 1 October 2021) do not apply on or after 1 October 2021 (see subsection 1671A(2) ); and

(c)    in relation to reportable situations arising on or after 1 October 2021.