(1) This regulation applies in relation to:
(a) the amendment of subsection 12GF(2) of the Australian Securities and Investments Commission Act 2001 made by item 111 of Schedule 1 to the Financial Services Reform (Consequential Provisions) Act 2001 ; and
(b) the amendment of subsection 12GM(5) of the Australian Securities and Investments Commission Act 2001 made by item 121 of Schedule 1 to the Financial Services Reform (Consequential Provisions) Act 2001 .
(2) The amendment applies in relation to conduct engaged in on or after the commencement of that item.
(3) The amendment also applies in relation to conduct engaged in before the commencement of that item, but only if the period that:
(a) relates to the conduct; or
(b) applied under subsection 12GF(2) or 12GM(5) before the commencement of that item;
had not ended when that item commenced.