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CORPORATIONS ACT 2001 - SECT 1684U

Transitional--deemed registration of certain relevant providers

  (1)   This section applies in relation to a person if:

  (a)   the person is a relevant provider; and

  (b)   immediately before 1   January 2022, either:

  (i)   the person was a registered tax (financial) adviser; or

  (ii)   an application under section   20 - 20 of the old Tax Agent Services Act for the registration of the person as a registered tax (financial) adviser had not been finally determined; or

  (iii)   an application under section   20 - 50 of the old Tax Agent Services Act for the renewal of the person's registration as a registered tax (financial) adviser had not been finally determined; and

  (c)   on or after 1   January   2022, either:

  (i)   the person's registration as a registered tax (financial) adviser continues in force because of item   139 of Schedule   1 to the amending Act; or

  (ii)   the person's registration, or renewed registration, as a registered tax (financial) adviser comes into force because of item   140 of Schedule   1 to the amending Act.

  (2)   On and after the application day for the person, this Act applies in relation to the person as if:

  (a)   the person were registered under subsection   921ZC(1), as inserted by Schedule   1 to the amending Act, because of an application in accordance with:

  (i)   if the relevant provider is a financial services licensee--section   921ZA, as inserted by Schedule   1 to the amending Act; or

  (ii)   if the relevant provider is not a financial services licensee--section   921ZB, as inserted by Schedule   1 to the amending Act; and

  (b)   the person's registration under subsection   921ZC(1), as inserted by Schedule   1 to the amending Act, came into force on the application day for the person.

  (3)   For the purposes of this section, the application day for a person is:

  (a)   if the person's registration continues in force because of item   139 of Schedule   1 to the amending Act--1   January 2022; or

  (b)   if the person's registration, or renewed registration, is in force because of item   140 of Schedule   1 to the amending Act--the day the registration, or renewed registration, comes into force under that item.


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