Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.2 - TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SERVICES REFORM ACT 2001  

Division 1 - Transitional provisions relating to the phasing-in of the new financial services regime  

Subdivision C - Treatment of existing clearing and settlement facilities  

SECTION 1427   SECTION 1425 FACILITIES - POWERS FOR REGULATIONS TO CHANGE HOW THE OLD AND NEW CORPORATIONS ACT APPLY DURING THE TRANSITION PERIOD  

1427(1)   [ Regulations]  

The regulations may do either or both of the following in relation to a clearing and settlement facility the operation of which is authorised by a licence granted under section 1425:

(a) provide that section 822A of the amended Corporations Act, and any associated provisions, apply in relation to the facility during some or all the transition period for the facility;

(b) provide that specified provisions of the amended Corporations Act (including section 822A), and any associated provisions, apply in relation to the facility during some or all of the transition period for the facility with specified modifications.

1427(2)   [ Paramountcy]  

Regulations made for the purposes of subsection (1) have effect despite anything in section 1426.