Document ID: chunk:federal_register_of_legislation:C2013C00581:clause:1_22
Version: federal_register_of_legislation:C2013C00581
Segment Type: clause
Provision Reference: sch 1 cl 22
Character Range: 36098–36882

22  Application
(1) Section 306‑25 of the Income Tax Assessment Act 1997 applies in relation to entitlements arising under Division 2AA (Financial claims scheme for account‑holders with insolvent ADIs) of Part II of the Banking Act 1959 after 17 October 2008.
Note: Division 2AA of Part II of the Banking Act 1959 commenced on 18 October 2008.
(2) However, this item does not:
 (a) require a person to do anything the person would have been required by Division 390 in Schedule 1 to the Taxation Administration Act 1953 to do before the commencement of this item had section 306‑25 of the Income Tax Assessment Act 1997 commenced on 18 October 2008; or
 (b) make a person liable to a criminal or administrative penalty for an omission occurring before the commencement of this item.