Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:2_826u
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 2 cl 826U
Character Range: 230633–231568

826U  Exemptions and modifications by regulations
 (1) The regulations may:
 (a) exempt a person or class of persons from all or specified provisions covered by this Subdivision; or
 (b) exempt a clearing and settlement facility or class of clearing and settlement facilities from all or specified provisions covered by this Subdivision; or
 (c) declare that provisions covered by this Subdivision apply in relation to:
 (i) a person or a clearing and settlement facility; or
 (ii) a class of persons or clearing and settlement facilities;
  as if specified provisions were omitted, modified or varied as specified in the regulations.
 (2) If there is an inconsistency between:
 (a) an exemption prescribed by regulations made for the purposes of subsection (1); and
 (b) an exemption by ASIC under section 820C;
(including in relation to any conditions specified by ASIC), the regulations prevail to the extent of the inconsistency.