Document ID: chunk:federal_register_of_legislation:F2024C00719:schedule:2
Version: federal_register_of_legislation:F2024C00719
Segment Type: schedule
Provision Reference: sch 2
Character Range: 1275–4049

Schedule 2—Savings

Transitional continuation of relief given by repealed ASIC Class Orders
    1 Transitional licensing relief
(1) An exemption specified in an ASIC Class Order specified in Schedule 1 as in force immediately before its repeal, continues to apply by force of this item, in the circumstances and on the conditions specified in relation to the exemption, provided that a circumstance or condition that requires a person to have provided ASIC with evidence of a matter that ASIC has stated in writing is adequate is taken to be satisfied if the person has provided ASIC with evidence of that matter.
           Note:  See paragraph 2(a) of Schedule B to each of ASIC Class Orders [CO 03/1100], [CO 03/1101], [CO 03/1103], [CO 04/829] and [CO 04/1313] and subparagraph 2(a)(ii) of Schedule B to ASIC Class Order [CO 03/1102].
(2) An exemption that continues to apply by force of subitem (1) applies provided any person relying on the exemption
           (a) complies with any written notice given by ASIC directing the person to give to ASIC, within the time specified in the notice, a written statement containing specified information about the financial service business operated by the person in this jurisdiction; and
           (b) if the person is relying on the exemption on or after 1 April 2020—was able to rely on the exemption on 31 March 2020.
(3) Subitems (1) and (2) have effect for the period commencing on the day this instrument commences and ending on 31 March 2026.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration      Date of commencement  Application, saving or transitional provisions
2016/396           27/9/2016 (see F2016L01497)   28/9/2016
2018/807           24/9/2018 (see F2018L01336)   25/9/2018             -
2019/902           5/9/2019 (see F2019L01144)    10/9/2019             -
2020/200           10/3/2020 (see F2020L00239)   17/3/2020             -
2021/510           11/6/2021 (see F2021L00732)   15/6/2021             -
2022/623           29/07/2022 (see F2022L01022)  2/8/2022              -
2023/588           7/8/2023 (see F2023L01065)    15/8/2023             -
2024/497           31/7/2024 (see F2024L00941)   6/8/2024              -

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted
Provision affected          How affected
Section 2                   rep. s48D LA
Schedule 1                  rep. s48C LA
Subitem 1(1) of Schedule 2
                            am. 2020/200
Subitem 1(2) of Schedule 2
                            am. 2020/200
Subitem 1(3) of Schedule 2
                            am. 2018/807; 2019/902; 2020/200; 2021/510; 2022/623; 2023/588 and 2024/497