Document ID: chunk:federal_register_of_legislation:C2020A00135:clause:9_1676c
Version: federal_register_of_legislation:C2020A00135
Segment Type: clause
Provision Reference: sch 9 cl 1676C
Character Range: 157711–158524

1676C  Automatic extension of licence conditions—variation applications pending just before commencement day
 (1) This section applies if:
 (a) before the commencement day, a person lodges an application for ASIC to vary the conditions on the person's Australian financial services licence by authorising the person to deal in a superannuation product; and
 (b) on or after the commencement day, ASIC decides the application by varying the conditions on the person's licence to authorise the person to deal in a superannuation product; and
 (c) at the time the licence is varied, the person is an RSE licensee.
 (2) The licensee's Australian financial services licence is taken from the time it is so varied to also be subject to a condition authorising the licensee to provide a superannuation trustee service.