Document ID: chunk:federal_register_of_legislation:C2025C00133:section:10p
Version: federal_register_of_legislation:C2025C00133
Segment Type: section
Provision Reference: s 10P
Character Range: 44943–46411

10P  Exempt entity determination
 (1) The Regulator may determine, in writing, that an entity that is a reporting entity or a reporting nominee is an exempt entity if:
 (a) the entity applies to the Regulator under subsection 10Q(1); and
 (b) the Regulator is satisfied that:
 (i) the entity is a reporting entity or a reporting nominee; and
 (ii) it is appropriate in the circumstances to make the determination, having regard to the objects of this Act.
Note 1: An exempt entity is not required to give certain payment times reports (see subsections 12(2) and (4)).
Note 2: A decision not to determine that an entity is an exempt entity is reviewable: see section 51.
 (2) The Regulator may impose conditions on a determination under subsection (1).

When exemption has effect
 (3) A determination under subsection (1) must specify:
 (a) any conditions imposed under subsection (2); and
 (b) the time the determination takes effect, which:
 (i) may be, but need not be, the time (if any) specified in the application under subsection 10Q(2); and
 (ii) may be before the day the determination is made; and
 (c) the time the determination ceases to have effect, which must be no more than 2 years after the determination takes effect.
 (4) The determination takes effect, and ceases to have effect, as specified under paragraphs (3)(b) and (c).

Determination is not a legislative instrument
 (5) A determination under subsection (1) is not a legislative instrument.