Document ID: chunk:federal_register_of_legislation:C2009A00075:clause:1_3
Version: federal_register_of_legislation:C2009A00075
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 4781–5693

3  At the end of section 4
Add:
 (2) Without prejudice to its effect apart from this subsection, this Act also has the effect it would have if each reference to a subsidiary of a life company were, by express provision, confined to such a subsidiary that:
 (a) is a corporation to which paragraph 51(xx) of the Constitution applies; or
 (b) carries on banking with respect to which the Parliament has the power to make laws under paragraph 51(xiii) of the Constitution.
 (3) Without prejudice to its effect apart from this subsection, this Act also has the effect it would have if each reference to a subsidiary of a registered NOHC were, by express provision, confined to such a subsidiary that:
 (a) is a corporation to which paragraph 51(xx) of the Constitution applies; or
 (b) carries on banking with respect to which the Parliament has the power to make laws under paragraph 51(xiii) of the Constitution.