Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:15:p4
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 15 (pt 4/73)
Character Range: 1699340–1701990

the imposition of the additional conditions takes effect; and
 (b) the additional conditions are taken for all purposes not to have been issued until the specified date.
 (3) For section 1444 of the Act, on and after the FSR commencement:
 (a) subsection 914A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which conditions imposed on an Australian financial services licence are varied or revoked) from which the variation or revocation takes effect; and
 (b) the conditions are taken for all purposes not to have been varied or revoked until the specified date.
 (4) For section 1444 of the Act, on and after the FSR commencement:
 (a) subsection 915A(1) of the Act is taken to authorise ASIC to specify a date (later than the date on which an Australian financial services licence is varied) from which the variation takes effect; and
 (b) the financial services licence is taken for all purposes not to have been varied until the specified date.
 (5) Paragraphs (1)(a), (2)(a), (3)(a) and (4)(a) cease to apply 2 years after the FSR commencement.

10.2.47A  Modification of pre‑FSR authority
 (1) For section 1444 of the Act, this regulation applies if a person:
 (a) is a regulated principal in relation to 2 or more regulated activities; and
 (b) holds an authority under the relevant old legislation in relation to those regulated activities; and
 (c) either:
 (i) becomes a financial services licensee in relation to 1 or more of those regulated activities; or
 (ii) is exempt from the requirement to hold a financial services licence in relation to 1 or more of those regulated activities.
 (2) ASIC may vary the authority to take account of the fact that the person has become a financial services licensee, or is exempt from the requirement to hold a financial services licence.
 (3) ASIC must not vary the authority unless ASIC has given the person an opportunity:
 (a) to appear at a hearing before ASIC that takes place in private; and
 (b) to make submissions and give evidence to ASIC in relation to the matter.
 (4) ASIC must give written notice of the variation to the person.
 (5) The variation takes effect when the written notice of the variation is given to the person.

Division 14—Financial services disclosure

10.2.48  Obligation to give Financial Services Guide for service arranged before application of Part 7.7 of the Act
  For section 1444 of the Act, sections 941A and 941B of the Act are taken not to require a person to give a client a Financial Services Guide in accordance with Division 2 of Part 7.7 of the Act in relation to a financial service (the new financial service) if,