THE CORPORATIONS LAW

SCHEDULES

SCHEDULE 4

 View history note

TRANSFER OF FINANCIAL INSTITUTIONS AND FRIENDLY SOCIETIES

Note:

See section 1465A.

PART 4 - THE TRANSITION PERIOD

Modification by regulations for the transition period  

28(1) 

For the purpose of facilitating the transfer of the registration of transferring financial institutions to this Law, the regulations may modify the operation of this Law (including the provisions applied by clause 36) in relation to:

(a)  a company registered under clause 3; or

(b)  a specified class of companies registered under clause 3.

28(2) 

Regulations made for the purposes of this clause may not:

(a)  create an offence with a penalty greater than 10 penalty units; or

(b)  increase the penalty for an existing offence; or

(c)  substitute for an existing offence an offence with a penalty greater than the penalty for the existing offence; or

(d)  modify an obligation, contravention of which will result in committing an offence, so as to make it more difficult to comply with.

28(3) 

Regulations made for the purposes of this clause cease to have effect at the end of the transition period (the 18 months starting on the transfer day).

 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.