Document ID: chunk:federal_register_of_legislation:F2024C00941:reg:74
Version: federal_register_of_legislation:F2024C00941
Segment Type: reg
Provision Reference: reg 74
Character Range: 94624–95507

74  General conditions of allocations existing immediately before 1 April 2020
  Despite subsection 73(1), a condition that:
 (a) was on an allocation as a general condition under the previous regulations (the old general condition); and
 (b) was in force immediately before 1 April 2020;
ceases to be in force on 1 April 2020.
Note 1: This section confirms that, on 1 April 2020, the old general conditions of an allocation are replaced by the conditions set out in Division 2 of Part 2.
Note 2: In contrast, special conditions imposed before 1 April 2020 will continue (see subsections 73(2) and (3)).
Note 3: This instrument can apply to a contravention of an old general condition before 1 April 2020 (see section 77). For example, an approved participant will have committed a compliance breach if it contravened the old condition before 1 April 2020 (see paragraph 24(3)(b)).