Document ID: chunk:federal_register_of_legislation:C2004A04777:schedule:3:p2
Version: federal_register_of_legislation:C2004A04777
Segment Type: schedule
Provision Reference: sch 3 (pt 2/2)
Character Range: 92912–94557

the winding up of the financial institution as if the amendment of this Law made by that item had not been made and despite subsection (2) of this section.

Law continues to apply to controller of property

"(6) If, immediately before the commencement of item 4 of Schedule 3 to the Amending Act:

  (a) there was a controller of property of a financial institution; and

  (b) the control day began before that commencement;

this Law (including Part 5.2 and section 1379) continues to apply in relation to the controller and the institution as if the amendments of this Law made by that item, and by item 6 of that Schedule, had not been made.

SCHEDULE 9—continued

Division 5 of Part 5.7B continues to apply to debts already incurred

"(7) Division 5 of Part 5.7B of this Law applies, after the commencement of item 4 of Schedule 3 to the Amending Act, to a debt incurred before that commencement by a company that is a subsidiary of a financial institution as if the amendments of this Law made by that item, and by item 6 of that Schedule, had not been made.

Parts 7.11 and 7.12 do not apply to issues under disclosure statements already registered

"(8) If, after the commencement of item 4 of Schedule 3 to the Amending Act, a financial institution may, under Division 6 of Part 5 of any of the Financial Institutions Codes, issue securities pursuant to a disclosure statement registered under that Division before that commencement, then, despite the amendments of this Law made by that item, and by item 6 of that Schedule, Parts 7.11 and 7.12 of this Law do not apply to the issue of securities pursuant to the disclosure statement.