Document ID: chunk:federal_register_of_legislation:C2024A00065:clause:1_86
Version: federal_register_of_legislation:C2024A00065
Segment Type: clause
Provision Reference: sch 1 cl 86
Character Range: 83740–84664

86  Transitional—reporting entities
(1) An entity that was a reporting entity (other than a volunteering entity) immediately before the transition day is taken, for the purposes of the new Act (but not the old Act, including the old Act as it may continue to apply under this Part), to have ceased to be a reporting entity at the start of the transition day.
(2) A constitutionally covered entity that:
 (a) is covered by subsection 7(2) of the new Act at the start of the first provisional reporting period of the entity that begins on or after the transition day; or
 (b) would be covered by that subsection if the new Act had commenced at or before the start of that provisional reporting period;
becomes, or is taken for the purposes of the new Act to have become, a reporting entity for the purposes of the new Act at the start of that provisional reporting period (even if the new Act has not commenced at that time).