Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:301:p20
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 301 (pt 20/30)
Character Range: 1925285–1928289

provisions mentioned in paragraph 334(1)(a) of the Friendly Societies Code of a State or Territory; or
 (d) the ASIC transitional standards within the meaning of Part 12.7; or
 (e) an instrument made under an instrument or provision mentioned in paragraph (a), (b), (c) or (d).

12.5.02  Application, variation, revocation and modification
 (2) For clause 39 of Schedule 4 to the Act, ASIC may, by declaration:
 (a) vary or revoke a relevant transitional instrument or requirement, or a determination under subregulation (1), that applies on the day on which the determination is made; or
 (b) modify the application of a relevant transitional instrument or requirement that applies on the day on which the determination is made.
 (3) However, ASIC must not vary or modify a relevant transitional instrument or requirement, or a determination, in relation to an obligation, contravention of which results in the commission of an offence, so as to make it more difficult to comply with the obligation.
 (4) Also, ASIC must consult with APRA before:
 (a) varying or revoking an ASIC transitional standard that is also an APRA transitional prudential standard; or
 (b) modifying the application of an ASIC transitional standard that is also an APRA transitional prudential standard.
 (5) A failure to comply with subregulation (4) does not affect the action taken by ASIC.

12.5.03  Effect of determinations and declarations
  A relevant transitional instrument or requirement has effect subject to a determination or declaration that applies to the instrument or requirement.

12.5.04  Publication of determinations and declarations
 (1) If a relevant transitional instrument or requirement to which a determination or declaration relates was, before the transfer date, subject under a previous governing Code to a publication requirement corresponding to publication in the Gazette, the determination or declaration must be published in the Gazette.
 (2) If a relevant transitional instrument or requirement to which a determination or declaration applies was not, before the transfer date, subject under a previous governing Code to a publication requirement corresponding to publication in the Gazette, a copy of the determination or declaration must be:
 (a) given to each transferring financial institution of a State or Territory to which the relevant transitional instrument or requirement applies; or
 (b) otherwise made available to the institution.

12.5.05  When determinations and declarations take effect
  A determination or declaration takes effect on the day stated in the determination or declaration.

12.5.06  Inspection and purchase of copies of instruments
 (1) ASIC must take reasonable steps to ensure that copies of the current text of the following relevant transitional instruments or requirements are available for inspection and purchase:
 (a) each provision of an instrument mentioned in paragraph (b) or (c) of the definition of relevant transitional instrument or requirement