Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 10.2.46A

When Australian financial services licence may be varied

             (1)  For section 1444 of the Act, on and after the FSR commencement:

                     (a)  subsection 914A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which conditions are imposed on an Australian financial services licence) from which the imposition of the conditions takes effect; and

                     (b)  the conditions are taken for all purposes not to have been imposed until the specified date.

             (2)  For section 1444 of the Act, on and after the FSR commencement:

                     (a)  subsection 914A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which additional conditions are imposed on an Australian financial services licence) from which the imposition of the additional conditions takes effect; and

                     (b)  the additional conditions are taken for all purposes not to have been issued until the specified date.

             (3)  For section 1444 of the Act, on and after the FSR commencement:

                     (a)  subsection 914A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which conditions imposed on an Australian financial services licence are varied or revoked) from which the variation or revocation takes effect; and

                     (b)  the conditions are taken for all purposes not to have been varied or revoked until the specified date.

             (4)  For section 1444 of the Act, on and after the FSR commencement:

                     (a)  subsection 915A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which an Australian financial services licence is varied) from which the variation takes effect; and

                     (b)  the financial services licence is taken for all purposes not to have been varied until the specified date.

             (5)  Paragraphs (1)(a), (2)(a), (3)(a) and (4)(a) cease to apply 2 years after the FSR commencement.



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