Document ID: chunk:federal_register_of_legislation:C2023A00069:clause:4_61
Version: federal_register_of_legislation:C2023A00069
Segment Type: clause
Provision Reference: sch 4 cl 61
Character Range: 137176–138516

61  After subsection 1684D(6)
Insert:
 (6A) If an existing provider in relation to whom the relevant provisions begin to apply under subsection (6) has not, at the start of 1 January 2026, satisfied paragraph (3)(a) or (b) (which are about qualifications), then, from 1 January 2026:
 (a) for an existing provider who is a relevant provider on 1 January 2026—the relevant provisions apply in relation to the existing provider without the modifications set out in paragraphs (6)(a) and (b); and
 (b) for an existing provider who is not a relevant provider on 1 January 2026—the relevant provisions apply in relation to the existing provider:
 (i) without the modifications set out in paragraphs (6)(a) and (b); and
 (ii) with the modifications set out in paragraphs (4)(a) and (b).
Note: This subsection sets out the consequences for the provider of failing to gain qualifications by 1 January 2026. These consequences differ depending on whether the provider is or is not a relevant provider on that day. If the provider is a relevant provider, they will need to meet the education and training standards. If the provider is not a relevant provider, they will need to gain qualifications but will not need to meet the work and training‑related standards.

Division 13—Renumbering

Australian Securities and Investments Commission Act 2001