Commonwealth Consolidated Acts

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Deferred application of hawking prohibition

             (1)  For the purposes of this section, the transition period is the period starting on the FSR commencement and ending on whichever of the following first occurs:

                     (a)  the day fixed by Proclamation for the purposes of this paragraph;

                     (b)  the end of the period of 6 months starting on the FSR commencement.

             (2)  Regulations made for the purposes of this section may provide for specified provisions of legislation that is repealed by the Financial Services Reform Act 2001 or the Financial Services Reform (Consequential Provisions) Act 2001 , being provisions that deal with the same or a similar matter as that dealt with in section 992A of the amended Corporations Act, to continue to apply (whether with or without specified modifications) during the transition period.

             (3)  During the transition period, section 992A of the amended Corporations Act does not apply to any person, except to the extent (if any) provided for in regulations made for the purposes of this section.

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