Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:15:p52
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 15 (pt 52/73)
Character Range: 1818140–1820811

incomplete financial service.
 (2) The old Corporations Act, and any associated provisions, continue to apply in relation to the incomplete financial service to the extent necessary to allow the financial service to be completed under the old Corporations Act.
 (3) The amended Corporations Act does not apply in relation to the incomplete financial service to the extent necessary to allow the financial service to be completed under the old Corporations Act.
 (4) In this regulation:
incomplete financial service means a service:
 (a) that is, or would be, a financial service under the Act, whether it was provided before or after the FSR commencement; and
 (b) either:
 (i) that commenced before the amended Corporations Act applied to the provider in relation to the service; or
 (ii) in relation to which instructions had been received by the provider of the service from the client, or a person acting on the client's behalf, before the amended Corporations Act applied to the provider in relation to the service; and
 (c) in relation to which:
 (i) the provider of the service did not need to obtain from the client any further instructions or information in order to be authorised or able to complete the provision of the service; or
 (ii) the majority of activities that needed to be carried out:
 (A) by the provider; or
 (B) by a person acting on the instructions of the provider; or
 (C) on behalf of the provider;
  occurred before the amended Corporations Act applied to the provider in relation to the financial service; and
 (d) completed within 4 weeks after the amended Corporations Act applies to that provider in relation to the service.
retail investor means a retail investor under subregulation 7.3.02B(10) of these Regulations, as in force immediately before the FSR commencement.

10.2.138  Professional investors
 (1) For section 1444 of the Act, this regulation applies in relation to:
 (a) a regulated principal mentioned in item 1, 2, 3 or 4 of the table in section 1430 of the Act; or
 (b) a person who:
 (i) at the FSR commencement, is an exempt dealer who acts as a principal; and
 (ii) is a regulated principal mentioned in item 4 of the table in regulation 10.2.38; or
 (c) a person who:
 (i) at the FSR commencement, is an exempt investment adviser who acts as a principal; and
 (ii) is a regulated principal mentioned in item 4 of the table in regulation 10.2.38.
 (2) The person is taken to be a professional investor for section 9 and paragraph 761G(7)(d) of the Act.
 (3) Subject to subregulation (4), this regulation ceases to apply in relation to the person on the earlier of:
 (a) the end of the transition period in relation to