Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.69 - TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 1 TO THE TREASURY LAWS AMENDMENT (2023 MEASURES NO. 1) ACT 2023  

SECTION 1699D   TRANSITIONAL - REGISTRATION SUSPENSION ORDERS  

1699D(1)    
This section applies to a registration suspension order that:

(a)    was in force immediately before the commencement of the amending Part in relation to a registration under subsection 921ZC(1) of a relevant provider; and

(b)    specified a suspension period ending after that commencement.

1699D(2)    
The registration suspension order continues in force (and may be dealt with) on and after that commencement as if it were an instrument of a kind that:

(a)    is specified in paragraph 921L(1)(b) as substituted by the amending Part; and

(b)    suspends that registration for the remainder of the suspension period.

1699D(3)    
After the suspension period, that registration continues in force (and may be dealt with) as follows:

(a)    if the application to register the relevant provider was made in accordance with section 921ZA - as if that registration had been under subsection 921ZC(1) as substituted by the amending Part;

(b)    if the application to register the relevant provider was made by a financial services licensee in accordance with section 921ZB - as if that registration had been under subsection 921ZC(1A) as substituted by the amending Part in relation to the financial services licensee.

Note: The provider ' s registration will not already have been continued under section 1699A because that registration was suspended immediately before the commencement of the amending Part and therefore was not in force at that time (see subsection 921L(3) ).