Document ID: chunk:federal_register_of_legislation:C2023C00275:clause:20_2
Version: federal_register_of_legislation:C2023C00275
Segment Type: clause
Provision Reference: sch 20 cl 2
Character Range: 143171–144058

2  Application of paragraph 50A(3)(d) of the National Credit Act
(1) Paragraph 50A(3)(d) of the National Credit Act, as inserted by the amending Part, applies in relation to a reportable situation that arises on or after 1 October 2021 and relates to a breach of an obligation referred to in that paragraph.
(2) If:
 (a) due to subitem (1), a licensee is required, under a provision of Division 5 of Part 2‑2 of the National Credit Act, to do a thing in relation to a reportable situation that arose before the commencement day; and
 (b) that thing must be done within a period of a specified number of days after the licensee first knows about, or is reckless with respect to, particular matters; and
 (c) that period began before the commencement day;
then, that requirement is taken to be a requirement to do the thing within the specified number of days after the commencement day.