Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For section 1444 of the Act, this regulation applies in relation to:
(a) a regulated principal mentioned in item 1, 2, 3 or 4 of the table in section 1430 of the Act; or
(i) at the FSR commencement, is an exempt dealer who acts as a principal; and
(ii) is a regulated principal mentioned in item 4 of the table in regulation 10.2.38; or
(i) at the FSR commencement, is an exempt investment adviser who acts as a principal; and
(ii) is a regulated principal mentioned in item 4 of the table in regulation 10.2.38.
(2) The person is taken to be a professional investor for section 9 and paragraph 761G(7)(d) of the Act.
(3) Subject to subregulation (4), this regulation ceases to apply in relation to the person on the earlier of:
(a) the end of the transition period in relation to the person under subsection 1431(1) of the Act; and
(b) the day on which the person ceases to have the status that made the person a regulated person.
(a) the person is subject to an exemption or modification under section 1437 of the Act; and
(b) the exemption or modification has the effect of extending the transition period in relation to the person (generally or in respect of certain activities);
the person ceases to be a person mentioned in subregulation (1) at the
end of the period of the extension.