Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This regulation applies if:
(a) on or before 30 April 2021, a person lodges an application for an Australian financial services licence authorising the person to do either or both of the following:
(i) deal in a financial product in the capacity of the trustee of a superannuation entity that is not a public offer entity;
(ii) provide a superannuation trustee service in the capacity of the trustee of a superannuation entity that is not a public offer entity; and
(b) the application complies with section 913A of the Act; and
(c) on the commencement day, the application has not been withdrawn by the applicant, or dealt with by ASIC.
Note: ASIC may deal with the application by granting, or refusing to grant, the licence (see section 913B of the Act), or by refusing to receive the application (see subsection 1274(8) of the Act).
(2) Paragraphs 7.6.01(1)(a) and (aa) continue to apply, despite their repeal by the amending regulations, in relation to the person during the period:
(a) starting on the commencement day; and
(b) ending when the application is withdrawn by the applicant, or dealt with by ASIC, whichever happens first.