Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_911a:p3
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 911A (pt 3/4)
Character Range: 279550–282129

licensee;
 (x) in the administration of a bankrupt estate or in the winding up of a body corporate or partnership;
 (g) all of the following apply:
 (i) the person is a body regulated by APRA;
 (ii) the service is one in relation to which APRA has regulatory or supervisory responsibilities;
 (iii) the service is provided only to wholesale clients;
 (h) all of the following apply:
 (i) the person is regulated by an overseas regulatory authority;
 (ii) the regulatory authority is approved by ASIC in writing for the purposes of this paragraph;
 (iii) the service is provided in the course of carrying on the business or undertaking which causes that regulation to be required;
 (iv) the service is provided only to wholesale clients;
 (i) the person provides the service only to related bodies corporate of the person;
 (j) the person provides the service in the person's capacity as trustee of a self‑managed superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993);
 (k) the provision of the service is covered by an exemption prescribed in regulations made for the purposes of this paragraph;
 (l) the provision of the service is covered by an exemption specified by ASIC in writing and published in the Gazette.

Note: A defendant bears an evidential burden in relation to the matters in this subsection. See subsection 13.3(3) of the Criminal Code.

 (3) Subparagraph (2)(f)(ix) only applies until whichever of these happens first:
 (a) the end of 6 months after the death of the licensee;
 (b) the removal or discharge of the personal representative;
 (c) the final distribution of the licensee's estate.

 (4) A person is not exempt under any paragraph of subsection (2) for a financial service they provide if the service is the operation of a registered scheme.

 (5) The exemption under paragraph (2)(ea), (eb) or (ec), or an exemption under paragraph (2)(k) or (l), may apply unconditionally or subject to conditions:
 (a) in the case of the exemption under paragraph (2)(ea), (eb) or (ec), or an exemption under paragraph (2)(k)—specified in regulations made for the purposes of this paragraph; or
 (b) in the case of an exemption under paragraph (2)(l)—specified by ASIC in writing published in the Gazette.

 (6) In this section:

information service means:
 (a) a broadcasting service; or
 (b) an interactive or broadcast videotext or teletext service or a similar service; or
 (c) an online database service or a similar service; or
 (d) any other service identified in regulations made for the purposes of this paragraph.