Document ID: chunk:federal_register_of_legislation:C2004A00616:clause:3_12
Version: federal_register_of_legislation:C2004A00616
Segment Type: clause
Provision Reference: sch 3 cl 12
Character Range: 12008–12835

12  Exemption from obligation to comply with a standard

 (1) The Reserve Bank may, by written instrument, exempt a registered corporation from the obligation to comply with a requirement in a standard in force under section 11. The exemption may be granted subject to conditions specified in the instrument of exemption.

 (2) The Reserve Bank may, by written instrument, vary or revoke an exemption granted under subsection (1).

 (3) The Reserve Bank must ensure that registered corporations and other persons can have access to the current text of exemptions granted under subsection (1) by such means as the Reserve Bank considers appropriate.

 (4) An instrument granting an exemption or varying or revoking an exemption is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.