Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.75 - APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 2 TO THE TREASURY LAWS AMENDMENT (FINANCIAL MARKET INFRASTRUCTURE AND OTHER MEASURES) ACT 2024  

Division 2 - Granting of Australian CS facility licences  

SECTION 1705D   TRANSITIONAL - APPLICATIONS FOR AN AUSTRALIAN CS FACILITY LICENCE UNDECIDED BEFORE THE COMMENCEMENT TIME  

1705D(1)    
This section applies to an application for an Australian CS facility licence if:

(a)    the application is lodged under section 824A as in force before the commencement time; and

(b)    before the commencement time, the Minister had not made a decision under section 824B in relation to the application.

1705D(2)    
This Act, as in force immediately before the commencement time, (the old Act ) continues to apply, at and after the commencement time, in relation to the application despite the amendments made by Part 1 of the amending Schedule.

1705D(3)    
However, if at or after the commencement time, the Minister decides the application by granting a licence under section 824B of the old Act, the licence is taken to be (and may be dealt with as if it were) granted as follows:

(a)    if the licence is granted under subsection 824B(1) of the old Act - as if the licence had been granted under subsection 824B(1) as amended by Part 1 of the amending Schedule;

(b)    if the licence is granted under subsection 824B(2) of the old Act - as if the licence had been granted under subsection 824B(2) as amended by Part 1 of the amending Schedule.