Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:19_35
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 19 cl 35
Character Range: 237353–239035

35  Instruments made and things done before the APRA commencement by the Commissioner under the Insurance Act, the Life Insurance Act, the RSA Act and the SIS Act

(1) An instrument made or issued by the Commissioner under a provision of the Insurance Act, the Life Insurance Act, the RSA Act or the SIS Act and in force immediately before the APRA commencement, continues to have effect after the APRA commencement as if it were made or issued by:
 (a) APRA, to the extent that the instrument could, on the APRA commencement, be made or issued by APRA under its powers and functions in the Act under which the instrument was made or issued; and
 (b) ASIC, to the extent that the instrument could, on the APRA commencement, be made or issued by ASIC under its powers and functions in the Act under which the instrument was made or issued.

(2) If an instrument was, when made, to have effect only for a limited period, it has effect only for so much of the period as has not already expired before the APRA commencement.

(3) Anything done before the APRA commencement in relation to the Commissioner (for example, lodging an application with the Commissioner) under a provision of the Insurance Act, the Life Insurance Act, the RSA Act or the SIS Act has effect after the APRA commencement as if it had been done in relation to:
 (a) APRA to the extent to which the provision is administered by APRA after the APRA commencement; and
 (b) ASIC to the extent to which the provision is administered by ASIC after the APRA commencement.

(4) A reference in this item to an instrument in force includes a reference to an instrument that has been made but that is not yet in operation.