Corporations Regulations 2001
For clause 39 of Schedule 4 to the Act, this regulation applies provisions (as modified in this regulation) of a previous governing Code to a relevant financial institution if, immediately before the transfer date, the provisions applied to the institution.
12.7.03(2) [ References to financial body or applicable standards]Subsection 402(1) of the Financial Institutions Code, and section 79 of the Friendly Societies Code, of a State or Territory apply, as a law of the Commonwealth, to the relevant financial institution as if:
(a) a reference to a financial body or a society were a reference to the relevant financial institution; and
(b) a reference to applicable standards were a reference to the ASIC transitional standards. 12.7.03(3) [ Exempt stock market]
However, subsections 255(6), (7) and (8) of the Financial Institutions Code of a State or Territory apply in relation to a special resolution of the relevant financial institution that amends a provision of the constitution of the institution that would, directly or indirectly, affect:
(a) the operation of an exempt stock market; or
(b) the timely disclosure of information to holders or potential holders of securities traded on an exempt stock market. 12.7.03(4) [ References to society, financial institutions, etc]
Subsections 255(6), (7) and (8) of the Financial Institutions Code of a State or Territory apply for subregulation (3) as if:
(a) a reference to society were a reference to the relevant financial institution; and
(b) a reference to financial institutions legislation were a reference to the Act and the Corporations Regulations; and
(c) a reference to standards were a reference to the ASIC transitional standards.
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