(1) A provision of this Act prescribed by the regulations does not apply to a person or entity in Australia prescribed by the regulations as a person to whom, or an entity to which, the provision does not apply.
Note 1: In this context, Australia includes the Territory of Christmas Island, the Territory of Cocos (Keeling) Islands and the coastal sea (see section 15B and paragraph 17(a) of the Acts Interpretation Act 1901 ).
Note 2: The regulations may prescribe the person or entity by reference to a class (see subsection 13(3) of the Legislative Instruments Act 2003 ).
(2) Before the Governor‑General makes regulations for the purposes of subsection (1) prescribing either or both of the following:
(a) a provision of this Act that is not to apply to a person or entity;
(b) a person to whom, or an entity to which, a provision of this Act is not to apply;
the Minister must be satisfied that the provision should not apply to the person or entity in Australia because there is not a sufficient connection between the person or entity and Australia.