Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p9
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 22272–24974

The former rules continue after the relevant commencement to have in relation to past conduct the effect that, at the relevant time, they had in relation to that past conduct.
"(4) For the purposes of a disciplinary proceeding begun before the relevant commencement, the former rules continue after that commencement to have the effect that, at the relevant time, they had for the purposes of that disciplinary proceeding.
"(5) For the purposes of a disciplinary proceeding begun after the relevant commencement, the former rules have the effect that, if that disciplinary proceeding had begun at the relevant time, they would have had at that time for the purposes of that disciplinary proceeding.
"(6) The former rules have effect by virtue of subsections (3), (4) and (5):

     (a) subject to paragraph (b) of this subsection, as if a reference in the former rules to the nominated exchange or to an AASE exchange were, except in relation to a time before the relevant commencement, a reference to the Exchange;
     (b) as if a reference in the former rules to the former rules, or to a provision of the former rules, were, except in relation to a time before that commencement, a reference to the former rules as they have effect, or to that provision as it has effect, as the case may be, by virtue of this section; and
     (c) with such other modifications as the circumstances require.
"(7) The applied rules within the meaning of this section or of a corresponding provision bind an eligible person to the same extent, and in the same manner, as if they were contained in the Exchange's business rules.
"(8) In subsection (7), 'eligible person' means the Exchange or a person who is or has been:
     (a) a member of the Exchange; or
     (b) under an obligation to comply with, observe, enforce, or give effect to, the Exchange's business rules.
"(9) Without limiting the generality of subsection (7), section 42 applies in relation to the applied rules within the meaning of this section or of a corresponding provision as if they were contained in the Exchange's business rules.
"(10) At the relevant commencement, the Exchange is substituted for the nominated exchange as a party to each disciplinary proceeding.
"(11) As from the relevant commencement, the Exchange has, subject to this section, the same rights in a disciplinary proceeding as the party for which it was substituted by virtue of subsection (10).
"(12) Where:
     (a) under an AASE exchange's business rules as in force at any time before the relevant commencement, a person was:
        (i) suspended for a specified period from some or all of the rights of membership of that AASE exchange; or
        (ii) prohibited