Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025 (72 of 2025)

Schedule 5   Machinery and other technical amendments

Part 1   Amendments commencing day after Royal Assent

Division 2   Education and training standard

Corporations Act 2001

10   Section 1684A

Repeal the section, substitute:

1684A Application - qualifications for existing providers

(1) For the purposes of this section, the relevant provisions are the following provisions of this Act, as inserted by Schedule 1 to the amending Act:

(a) subsection 921BA(1);

(b) subsection 921BA(5) in so far as it relates to subsection 921BA(1).

(2) Subject to subsection (4) of this section, the relevant provisions do not apply in relation to an existing provider before 1 January 2026.

(3) Subject to subsection (4) of this section, the relevant provisions apply in relation to an existing provider on and after 1 January 2026 as if the reference in subsection 921BA(1) to meeting the education and training standard in subsection 921B(2) were a reference to:

(a) meeting the education and training standard in subsection 921B(2); or

(b) completing, on or before the following day, one or more courses determined by the Minister under subsection 1684E(1) to give the existing provider qualifications equivalent to that standard:

(i) if the existing provider is a relevant provider on 1 January 2026 - 31 December 2025;

(ii) otherwise - the day occurring immediately before the day on which the existing provider first becomes a relevant provider after 1 January 2026.

(4) Subsections (2) and (3) of this section do not apply in relation to an existing provider if subsection (5) applies in relation to the existing provider.

Consequences of failing to pass exam

(5) The relevant provisions apply, and are taken to have applied, in relation to an existing provider on and after the exam cut-off day for the existing provider if, at the start of that day, the existing provider:

(a) was a relevant provider; and

(b) had not met the education and training standard in subsection 921B(3), as amended by Schedule 1 to the amending Act.