CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.4 - TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SERVICES REFORM AMENDMENT ACT 2003  

SECTION 1450   APPLICATION OF PART 10.2 TO CHAPTER 7 AS AMENDED BY SCHEDULE 2 TO THE AMENDING ACT  

1450(1)   [ Application]  

Subject to subsection (2), the provisions of Division 1 of Part 10.2 (including regulations and determinations made for the purposes of that Division, and the powers given by that Division to deal with matters in regulations and determinations) also apply to the provisions of Chapter 7 as amended by Schedule 2 to the amending Act.

Note: Division 1 of Part 10.2 deals with the phasing-in of the new financial services regime.

1450(2)   [ Limitation]  

However, subsection (1) does not produce the result that a provision of Chapter 7 as amended, added or inserted by an amendment in Schedule 2 to the amending Act applies in relation to a person, matter or circumstance:


(a) at a time that is before the commencement of the amendment; or


(b) contrary to section 1451 .

1450(3)   [ Powers applicable to Ch 7]  

The powers given by Division 2 of Part 10.2 to deal with matters in regulations and determinations apply in relation to the provisions of Chapter 7 as amended by Schedule 2 to the amending Act as if the amendments in Schedule 2 to the amending Act were relevant amendments for the purposes of that Division. However (in addition to subsections 1444(2) and 1445(3) ) such regulations and determinations are of no effect to the extent that they are inconsistent with section 1451 .


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