Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 13 - Regulated principals  

REGULATION 10.2.46A   WHEN AUSTRALIAN FINANCIAL SERVICES LICENCE MAY BE VARIED  

10.2.46A(1)   [ Conditions]  

For section 1444 of the Act, on and after the FSR commencement:


(a) subsection 914A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which conditions are imposed on an Australian financial services licence) from which the imposition of the conditions takes effect; and


(b) the conditions are taken for all purposes not to have been imposed until the specified date.

10.2.46A(2)   [ Additional conditions]  

For section 1444 of the Act, on and after the FSR commencement:


(a) subsection 914A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which additional conditions are imposed on an Australian financial services licence) from which the imposition of the additional conditions takes effect; and


(b) the additional conditions are taken for all purposes not to have been issued until the specified date.

10.2.46A(3)   [ Varied or revoked conditions]  

For section 1444 of the Act, on and after the FSR commencement:


(a) subsection 914A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which conditions imposed on an Australian financial services licence are varied or revoked) from which the variation or revocation takes effect; and


(b) the conditions are taken for all purposes not to have been varied or revoked until the specified date.

10.2.46A(4)   [ Varied licences]  

For section 1444 of the Act, on and after the FSR commencement:


(a) subsection 915A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which an Australian financial services licence is varied) from which the variation takes effect; and


(b) the financial services licence is taken for all purposes not to have been varied until the specified date.

10.2.46A(5)   [ Limitation]  

Paragraphs (1)(a), (2)(a), (3)(a) and (4)(a) cease to apply 2 years after the FSR commencement.


 

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