Corporations Amendment (Digital Assets Framework) Act 2026 (38 of 2026)

Schedule 1   Digital asset platforms and tokenised custody platforms

Part 8   Application and transitional provisions

Corporations Act 2001

98   In the appropriate position in Chapter 10

Insert:

Part 10.83 - Transitional provisions relating to the Corporations Amendment (Digital Assets Framework) Act 2026

1730 Definitions

In this Part:

AFSL means an Australian financial services licence.

amended Corporations Act means this Act as in force on commencement.

commencement means the day Schedule 1 to the Corporations Amendment (Digital Assets Framework)Act 2026 commences.

Note: This is the day after the end of the 12-month period beginning on the day that Act receives the Royal Assent.

DAP/TCP amendments means the amendments made by Schedule 1 to the Corporations Amendment (Digital Assets Framework)Act 2026.

DAP/TCP financial service means a financial service relating to:

(a) a digital asset platform; or

(b) a tokenised custody platform.

transition period means the 6-month period starting on commencement.

1731 Application of amendments to financial services - general

The DAP/TCP amendments apply in relation to a DAP/TCP financial service to the extent that the service is provided on or after commencement.

1732 Transitional - delay in how amendments apply for AFSLs

(1) Despite section 1731, the DAP/TCP amendments do not apply in relation to the provision of a DAP/TCP financial service at any time during the transition period while the following person (the responsible person ):

(a) if the person providing the service is doing so not as an agent or representative of any other person - the person providing the service;

(b) otherwise - the person on whose behalf the service is being provided;

does not hold an AFSL that is subject to a condition authorising the provision of the service.

Note: This subsection applies if the responsible person:

(a) does not hold an AFSL at all; or

(b) holds an AFSL that authorises only the provision of other services.

(2) However:

(a) during the transition period, the responsible person may apply under the amended Corporations Act for ASIC to decide whether or not to:

(i) grant the responsible person an AFSL that is subject to a condition authorising the provision of the service; or

(ii) vary the conditions on the responsible person's AFSL to authorise the provision of the service; and

(b) ASIC may make such a decision under the amended Corporations Act in response to the application.

(3) Despite section 1731, if the responsible person applies as described in paragraph (2)(a) of this section, the DAP/TCP amendments do not apply in relation to the provision of the service until the day after the day ASIC makes a decision described in that paragraph in response to the application.

Note: If the responsible person fails to apply during the transition period, then the DAP/TCP amendments will start to apply immediately after the transition period.

1733 Application of amendments otherwise than in connection with financial services

If a provision of the amended Corporations Act:

(a) relates to a digital asset platform or tokenised custody platform; but

(b) does not relate to the platform in connection with a financial service;

then the DAP/TCP amendments of that provision apply in relation to the platform only if the platform is, or is to be, issued on or after commencement.

1734 Acquisition of property

(1) Despite section 1350, sections 1731 to 1733 do not apply, and are taken never to have applied, to the extent that their operation would result in an acquisition of property from a person otherwise than on just terms.

(2) In subsection (1), acquisition of property and just terms have the same meanings as in paragraph 51(xxxi) of the Constitution.

1735 Regulations

(1) The regulations may make provisions of a transitional, application or saving nature relating to this Part and the amendments and repeals made by the amending Schedule.

(2) Without limiting subsection (1), regulations made for the purpose of that subsection may modify provisions of this Act.