Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.23A - TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (PROFESSIONAL STANDARDS OF FINANCIAL ADVISERS) ACT 2017  

Division 2 - Application and transitional provisions  

SECTION 1546R  

1546R   APPLICATION OF OBLIGATION TO NOTIFY ASIC ABOUT A PERSON WHO CEASES TO HAVE CONTROL OF A BODY CORPORATE LICENSEE  

Section 922K , as inserted by the amending Act, applies in relation to a person who ceases to have control of a body corporate licensee if:

(a)    the person ceases to have control of the licensee after commencement; or

(b)    both of the following apply:

(i) the person ceases to have control of the licensee before commencement;

(ii) immediately before commencement, a notice has not been lodged in accordance with section 922K , as notionally inserted into this Act by Schedule 8D to the Corporations Regulations 2001 .