Document ID: chunk:federal_register_of_legislation:C2019A00087:clause:1_1
Version: federal_register_of_legislation:C2019A00087
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 2374–3179

1  Subsection 1528(1)
Repeal the subsection, substitute:
 (1) Subject to subsections (1A) and (2), Division 4 of Part 7.7A, as inserted by item 24 of Schedule 1 to the amending Act, applies to a benefit given to a financial services licensee, or a representative of a financial services licensee, if:
 (a) the benefit is given under an arrangement entered into on or after the application day; or
 (b) the benefit is given by a platform operator.
 (1A) Subject to subsection (2), Division 4 of Part 7.7A, as inserted by item 24 of Schedule 1 to the amending Act, applies to a benefit given on or after 1 January 2021 to a financial services licensee, or a representative of a financial services licensee, if the benefit is given under an arrangement entered into before, on or after the application day.