Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:2_1705n
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 2 cl 1705N
Character Range: 322556–323974

1705N  Transitional—exemptions (Part 7.2)

Exemption of particular financial market
 (1) Subsections (2) to (4) apply to an exemption of a particular financial market:
 (a) given under subsection 791C(1); and
 (b) in force immediately before the commencement time.
 (2) The exemption continues in force (and may be dealt with) at and after the commencement time as if the exemption had been given under subsection 791C(1) as amended by Part 6 of the amending Schedule.
 (3) To avoid doubt, a condition specified in the exemption is taken to be specified for the purposes of paragraph 791C(2)(a) as inserted by that Part.
 (4) For the purposes of paragraph 791C(2)(b), the exemption is taken to be expressed to apply indefinitely.

Exemption of classes of financial markets
 (5) Subsections (6) to (8) apply to an exemption of a class of financial markets:
 (a) given under subsection 791C(1); and
 (b) in force immediately before the commencement time.
 (6) The exemption continues in force (and may be dealt with) at and after the commencement time as if the exemption had been given under subsection 791C(7) as amended by Part 6 of the amending Schedule.
 (7) To avoid doubt, a condition specified in the exemption is taken to be specified for the purposes of paragraph 791C(8)(a) as amended by that Part.
 (8) For the purposes of paragraph 791C(8)(b), the exemption is taken to be expressed to apply indefinitely.