Corporations Amendment Regulation 2012 (No. 2) (43 of 2012)

Schedule 2   Amendments commencing on day after registration

[5]   Chapter 5D, after Part 5D.3

insert

Part 5D.4 Obligations of receiving company after transfer

5D.4.01 Preserving rights under dispute resolution systems and compensation arrangements

(1)This regulation applies if ASIC makes a determination under subsection 601WBA (1) of the Act that there is to be a transfer of estate assets and liabilities from a transferring company to a receiving company.

(2)For section 601SAB of the Act, the obligations of the receiving company include the provision to retail clients of access to the receiving company's compensation arrangements, and dispute resolution system, in relation to a complaint arising from the provision of traditional trustee services by the transferring company.

(3)In this regulation:

compensation arrangements , for a receiving company, means the arrangements the receiving company is required to have under subsection 912B (1) of the Act.

dispute resolution system , for a receiving company, means the dispute resolution system the receiving company is required to have under paragraph 912A (1) (g) of the Act.