Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p26
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 26/29)
Character Range: 121400–124346

or hardship withdrawal—details of any amounts deducted from the proceeds of the sale; and

                     (c) for an interest in the scheme that is subject to tax—whether the benefit of any tax deduction has been passed onto the member in the form of a reduced fee or cost.

Part 4—Transitional

9 Rental pools covered by ASIC Class Order [CO 02/237]
           (1) Subsections (2) and (3) apply in relation to a person that operates or provides financial services in relation to an interest in a rental pool that was operated or purportedly was operated in reliance on ASIC Class Order [CO 02/237] (the old class order) immediately before the repeal of that class order.
           (2) The old class order as in force immediately before its repeal continues to apply to the person despite its repeal as if the following amendments were made:
              (a) in the First Exemption at subparagraph 1(e) omit "once every 6 months", and substitute "annually";
              (b) in the Second Exemption at paragraph (b) omit "once every 6 months", and substitute "annually".
(3) The exemption (including any related conditions and as affected by subsection (2)) in the old class from the requirement to hold an Australian financial services licence that is expressed to be made under paragraph 911A(2)(l) has effect under section 926A of the Act instead.

10 Application of amendments made by Corporations (Amendment) Instrument 2020/1064
(1) The amendments made by Schedule 1 to the ASIC Corporations (Amendment) Instrument 2020/1064 (amending instrument) apply on and from commencement of the amending instrument.
           (2) The amendments made by Schedule 2 to the amending instrument apply on and from commencement of the amending instrument in relation to a registered time-sharing scheme that was being not operated immediately before the commencement of the amending instrument.
              Note: Until the amendments made by Schedule 2 of the amending instrument apply in relation to a scheme, among other matters, the provisions of this instrument that were in force immediately before commencement of the amending instrument and that are omitted by those amendments will continue to apply in relation to the scheme.
           (3) The amendments made by Schedule 2 to the amending instrument apply, in relation to a registered time-sharing scheme that was being operated immediately before the commencement of the amending instrument, on and from the first to occur of:
              (a) the constitution of the scheme being modified or repealed and replaced so that it includes provisions (hardship provisions) to the effect of paragraphs 601GA(1A)(a) to (l) of the Act (as notionally inserted or to be notionally inserted into the Act as a result of the amending instrument);
              (b) unless subsection (4) applies in relation to the scheme—30 September 2021.
           (4) This subsection applies in relation