Corporations Act 2001
CHAPTER 10
-
TRANSITIONAL PROVISIONS
PART 10.12
-
TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT (FINANCIAL SERVICES MODERNISATION) ACT 2009
(a) starts at the start of the day that is one month after commencement; and
(b) ends at the end of the day before the day that is 12 months after commencement;
(a) apply under section 913A of the amended Corporations Act for an Australian financial services licence that authorises the person to provide a margin lending financial service; and
(b) apply under section 914A of the amended Corporations Act for a variation of a condition of an Australian financial services licence to authorise the person to provide a margin lending financial service. 1489(3) [ Grants of licences]
(a) grant an Australian financial services licence to a person under section 913B of the amended Corporations Act that authorises the person to provide a margin lending financial service, and otherwise deal with that licence (for example, by suspending or cancelling it) under Chapter 7 ; and
(b) impose or vary conditions on an Australian financial services licence under section 914A of the amended Corporations Act to authorise a person to provide a margin lending financial service, and otherwise deal with those conditions (for example, by revoking or varying them) under Chapter 7 ;
Division 1
-
Transitional provisions relating to Schedule 1 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009
SECTION 1489
APPLICATIONS OF AMENDMENTS
-
APPLICATION FOR AND GRANT OF LICENCES ETC. AUTHORISING MARGIN LENDING FINANCIAL SERVICES
1489(1)
[
Application to facilitate licences]
Despite section 1488 , during the period that:
(a) starts at the start of the day that is one month after commencement; and
(b) ends at the end of the day before the day that is 12 months after commencement;
subsections (2) and (3) apply.
1489(2) [ Applications for licences](a) apply under section 913A of the amended Corporations Act for an Australian financial services licence that authorises the person to provide a margin lending financial service; and
(b) apply under section 914A of the amended Corporations Act for a variation of a condition of an Australian financial services licence to authorise the person to provide a margin lending financial service. 1489(3) [ Grants of licences]
(a) grant an Australian financial services licence to a person under section 913B of the amended Corporations Act that authorises the person to provide a margin lending financial service, and otherwise deal with that licence (for example, by suspending or cancelling it) under Chapter 7 ; and
(b) impose or vary conditions on an Australian financial services licence under section 914A of the amended Corporations Act to authorise a person to provide a margin lending financial service, and otherwise deal with those conditions (for example, by revoking or varying them) under Chapter 7 ;
but the Australian financial services licence, condition, or variation of a condition, does not take effect until the day that is 12 months after commencement.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.