Document ID: chunk:federal_register_of_legislation:C2020A00135:clause:11_1671a
Version: federal_register_of_legislation:C2020A00135
Segment Type: clause
Provision Reference: sch 11 cl 1671A
Character Range: 191623–193197

1671A  Continued application of paragraph 601FC(1)(l) and section 912D
 (1) Despite the repeal of paragraph 601FC(1)(l) by item 1 of the amending Schedule, that paragraph (as in force immediately before 1 October 2021) continues to apply to the responsible entity of a registered scheme in relation to a breach of this Act if:
 (a) the breach occurs before 1 October 2021; and
 (b) before 1 October 2021, the responsible entity knows of the breach.
 (2) Despite the repeal of section 912D by item 5 of the amending Schedule, subsections 912D(1) to (1D) and subsection 912D(3) (to the extent that it relates to subsections 912D(1) to (1D)), as in force immediately before 1 October 2021, continue to apply to a financial services licensee in relation to a breach or likely breach of an obligation mentioned in paragraph 912D(1)(a) (as in force immediately before 1 October 2021) if:
 (a) the obligation is breached or is likely to be breached before 1 October 2021; and
 (b) before 1 October 2021, the licensee knows that the obligation has been breached or is likely to be breached.
 (3) Despite the repeal of section 912D by item 5 of the amending Schedule, subsection 912D(2) and subsection 912D(3) (to the extent that it relates to subsection 912D(2)), as in force immediately before 1 October 2021, continue to apply to a financial services licensee if:
 (a) the licensee becomes a participant, or ceases to be a participant, in a licensed market or a licensed CS facility before 1 October 2021; and
 (b) before 1 October 2021, the licensee knows of that circumstance.