Corporations Regulations 2001
View history note
Hide history noteFor section 1444 of the Act, this regulation applies if a person:
(a) is a regulated principal in relation to 2 or more regulated activities; and
(b) holds an authority under the relevant old legislation in relation to those regulated activities; and
(c) either:
(i) becomes a financial services licensee in relation to 1 or more of those regulated activities; or
10.2.47A(2) [ ASIC may vary authority]
(ii) is exempt from the requirement to hold a financial services licence in relation to 1 or more of those regulated activities.
ASIC may vary the authority to take account of the fact that the person has become a financial services licensee, or is exempt from the requirement to hold a financial services licence.
10.2.47A(3) [ Limitation]ASIC must not vary the authority unless ASIC has given the person an opportunity:
(a) to appear at a hearing before ASIC that takes place in private; and
(b) to make submissions and give evidence to ASIC in relation to the matter. 10.2.47A(4) [ Written notice of variation]
ASIC must give written notice of the variation to the person.
10.2.47A(5) [ When effective]The variation takes effect when the written notice of the variation is given to the person.
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