Corporations Act 2001
View history note
Hide history noteIn this Part:
amending Act
means the
Financial Services Reform Amendment Act 2003
.
Subject to subsection (2), the provisions of Division 1 of Part 10.2 (including regulations and determinations made for the purposes of that Division, and the powers given by that Division to deal with matters in regulations and determinations) also apply to the provisions of Chapter 7 as amended by Schedule 2 to the amending Act.
Note: Division 1 of Part 10.2 deals with the phasing-in of the new financial services regime.
1450(2) [ Limitation]However, subsection (1) does not produce the result that a provision of Chapter 7 as amended, added or inserted by an amendment in Schedule 2 to the amending Act applies in relation to a person, matter or circumstance:
(a) at a time that is before the commencement of the amendment; or
(b) contrary to section 1451 . 1450(3) [ Powers applicable to Ch 7]
The powers given by Division 2 of Part 10.2 to deal with matters in regulations and determinations apply in relation to the provisions of Chapter 7 as amended by Schedule 2 to the amending Act as if the amendments in Schedule 2 to the amending Act were relevant amendments for the purposes of that Division. However (in addition to subsections 1444(2) and 1445(3) ) such regulations and determinations are of no effect to the extent that they are inconsistent with section 1451 .
The amendments made by items 37, 38 and 39 of Schedule 2 to the amending Act do not apply to authorisations made before the commencement of the amendment, unless the relevant 10 day period for notification has not ended by the commencement of the items.
1451(2) [ Application of amendments to revocations]The amendment made by item 40 of Schedule 2 to the amending Act applies to revocations made after the commencement of the item.
1451(2A) Application of certain amendments of sections 952B and 953A.The amendments made by items 53A and 58A of Schedule 2 to the amending Act apply in relation to the giving of Financial Services Guides after the commencement of the items.
1451(3) Application of amendments of section 981H.The amendments made by items 62 and 63 of Schedule 2 to the amending Act apply, after the commencement of those items, to money paid to a person before that commencement as mentioned in subsection 981H(1) , even if an agreement referred to in subsection 981H(2) was in force in relation to the money immediately before that commencement.
1451(3A) Application of certain amendments of section 1016A.The amendments made by items 77A, 77B and 78C of Schedule 2 to the amending Act apply in relation to applications for financial products, and applications to become a standard employer-sponsor, whether made before or after the commencement of the items.
1451(3B) Application of amendments of sections 1016B to 1016E.The amendments made by items 78D to 78T of Schedule 2 to the amending Act apply in relation to Product Disclosure Statements whether prepared or given before or after the commencement of the items.
1451(4) Application of amendment of section 1017D.The amendment made by item 88 of Schedule 2 to the amending Act does not apply to statements prepared before the commencement of the item.
1451(5) Application of amendments of section 1017E.The amendments made by items 89 and 90 of Schedule 2 to the amending Act apply, after the commencement of those items, to money paid to a person before that commencement as mentioned in subsection 1017E(1) , even if an agreement referred to in subsection 1017E(2B) was in force in relation to the money immediately before that commencement.
1451(6) Application of amendments of section 1020E.The amendment made by item 91 of Schedule 2 to the amending Act does not apply to disclosure documents or statements prepared before the commencement of the item.
1451(7) [ Application of amendments of definitions]The amendments made by items 91A, 91B and 91C of Schedule 2 to the amending Act apply to disclosure documents or statements, and to advertisements or statements of a kind referred to in subsection 1018A(1) or (2) , whether prepared, given or published before or after the commencement of the items.
1451(8) Application of certain amendments of sections 1021B and 1022A.The amendments made by items 95F and 96K of Schedule 2 to the amending Act apply in relation to the giving of Product Disclosure Statements after the commencement of the items.
The amendment made by item 101 of Schedule 2 to the amending Act applies to documents even if they were lodged before the commencement of the item.
1452(2) [ Exception]The amendment made by item 102 of Schedule 2 to the amending Act removes a reference to a repealed provision. However, the amendment does not produce the result that a document that was lodged under that provision when it was in force now becomes available for inspection under section 1274 .