(1) This regulation applies if an instrument or another matter continues in force, after the FSR commencement, in accordance with the relevant old legislation that relates to the instrument or matter.
1 A licence.
2 A licence condition.
3 A suspension of a registration.
Note: The relevant old legislation includes the old Corporations Act, associated provisions and, in some cases, other legislation such as the Insurance (Agents and Brokers) Act 1984 .
(2) To avoid doubt:
(a) ASIC may exercise any of the powers, and perform any of the functions, that ASIC had immediately before the FSR commencement in relation to:
(i) a person to whom the instrument or matter applies; and
(ii) a representative of a person mentioned in subparagraph (i); and
(iii) any other person (including a person described in a capacity that came into existence, or in relation to an event that occurred, after the FSR commencement); and
(b) paragraph (a) includes the power:
(i) to issue an instrument; and
(ii) to execute an instrument.