Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p42
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 42/43)
Character Range: 808326–811025

services licensee if the licensee's financial services licence authorises the licensee to carry on an activity:
 (a) to which Part 7.3 of the old Corporations Act would have applied if that Part were not repealed; and
 (b) for which the licensee would have been required under that Part to have a dealers licence or investment advisers licence that could have been subject to the condition specified in paragraph 786(2)(d) of the old Corporations Act.
 (4) Section 914A of the Act is taken to authorise ASIC to impose the condition specified in paragraph 786(2)(d) of the old Corporations Act as a condition of the licensee's financial services licence.
 (5) If ASIC acts under subsection (4), Part 7.3 of the old Corporations Act, and any associated provisions, continue to apply to the extent necessary to specify the content of the condition specified in paragraph 786(2)(d) of the old Corporations Act.'
 (6) In this section:
  associated provisions, in relation to provisions (the core provisions) of a particular Act as in force at a particular time, include (but are not limited to):
 (a) any regulations or other instruments that are or were in force for the purposes of any of the core provisions at that time; and
 (b) any interpretation provisions that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and
 (c) any provisions relating to liability (civil or criminal) that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and
 (d) any provisions that limit or limited, or that otherwise affect or affected, the operation of any of the core provisions at that time (whether or not they also limit or limited, or affect or affected, the operation of other provisions).
  old Corporations Act means this Act as in force immediately before the FSR commencement.'.
 (2) Subregulation (1) operates only in relation to a financial services licensee (other than an exempt licensee under regulation 7.6.02AAA):
 (a) who has not complied with subsection 912B(1) of the Act, in its unmodified form; and
 (b) until the licensee does so comply.
 (3) Subregulations (1) and (2) are not taken to displace, or diminish, the requirement for a financial services licensee to comply with subsection 912B(1) of the Act in its unmodified form.
 (4) A security bond lodged with ASIC by a financial services licensee in compliance with section 912B of the Act as modified by subregulation (1), or with any provision of the old Corporations Act, may be released by ASIC, at its discretion, if:
 (a) ASIC considers that, in relation to the