Treasury Laws Amendment (2023 Measures No. 3) Act 2023 (75 of 2023)

Schedule 2   Recognising experience in the financial advice industry

Part 4   Transitional provisions

Corporations Act 2001

24   In the appropriate position in Part 10.57

Insert:

Division 3A - Transitional provisions relating to the second amending Act

1684VA Application of amendment - approval of domestic qualifications

Section 921GA, as inserted by Part 2 of Schedule 2 to the second amending Act, applies in relation to an application made under that section on or after the commencement of that Part, whether the degree or qualification to which the application relates was completed before, on or after that commencement.

1684VB Transitional - determination approving degrees and qualifications

(1) This section applies to a determination that is in force immediately before the commencement of Part 2 of Schedule 2 to the second amending Act:

(a) under subsection 921B(6); and

(b) for the purposes of paragraph 921B(2)(a).

(2) The determination continues in force (and may be dealt with) on and after that commencement as if the determination had been made:

(a) under subsection 921B(6), as amended by that Part; and

(b) for the purposes of paragraph 921B(2)(a), as substituted by that Part.

1684VC Certain requirements for registered tax agents

(1) For the purposes of applying subsection 921C(1) to the licensing of a registered tax agent during the period:

(a) starting on 1 January 2022; and

(b) ending immediately before the commencement of Part 3 of Schedule 2 to the second amending Act;

treat the registered tax agent as having met each requirement referred to in subparagraph 921C(1)(b)(ii) or (c)(ii).

(2) For the purposes of applying subsection 921C(2), (3) or (4) to the authorisation of a registered tax agent during the period:

(a) starting on 1 January 2022; and

(b) ending immediately before the commencement of Part 3 of Schedule 2 to the second amending Act;

treat the registered tax agent as having met each requirement referred to in subparagraph (c)(ii) of that subsection.