Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:2_2
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 2 cl 2
Character Range: 97802–98441

2  Early applications for authorisation to carry on insurance business

(1) For the purpose of allowing applications for an authorisation to carry on insurance business to be made and dealt with before the commencement:
 (a) Division 2 of Part III of the new Act; and
 (b) any other provisions of the new Act so far as they relate to making or dealing with such applications;
apply after this Act receives the Royal Assent as if those provisions had come into operation at that time.

(2) An authorisation given before the commencement takes effect on the day specified (in writing) by APRA. That day must not be before the commencement.