Document ID: chunk:federal_register_of_legislation:C2010C00499:clause:9_13:p1
Version: federal_register_of_legislation:C2010C00499
Segment Type: clause
Provision Reference: sch 9 cl 13 (pt 1/9)
Character Range: 61150–63934

13  At the end of Division 124
Add:

Subdivision 124‑O—FSR (financial services reform) transitions

Table of sections

Same owner roll‑overs

124‑880 Old licence roll‑over (same owner)
124‑885 Qualified licence roll‑over (same owner)
124‑890 Rights roll‑over (same owner)
124‑895 Consequences of a same owner roll‑over

New owner roll‑overs

124‑900 Old licence roll‑over (new owner)
124‑905 Qualified licence roll‑over (new owner)
124‑910 Rights roll‑over (new owner)
124‑915 Consequences of a new owner roll‑over (where one CGT asset comes to an end)
124‑920 Consequences of a new owner roll‑over (where more than one CGT asset comes to an end)

Extension of FSR transition period

124‑925 Special extension of the 10 March 2004 cut‑off date (same owner roll‑overs)
124‑930 Special extension of the 10 March 2004 cut‑off date (new owner roll‑overs)

Same owner roll‑overs

124‑880  Old licence roll‑over (same owner)

  There is a roll‑over if:
 (a) you apply for an *Australian financial services licence during the period beginning on 11 March 2002 and ending on 10 March 2004; and
 (b) at the time you make the application, you hold one or more licences, registrations, approvals, authorities or other similar things (the old licence or licences) that give you the status of a regulated principal within the meaning of section 1430 of the Corporations Act 2001; and
 (c) you are granted an Australian financial services licence as a result of the application; and
 (d) that licence covers some or all of the activities that the old licence or licences authorised you to carry on; and
 (e) the old licence or licences cease to have effect (whether wholly or partly):
 (i) when the Australian financial services licence is granted to you; or
 (ii) if the Australian financial services licence is granted to you after 10 March 2004—on 10 March 2004.

Note: The period in paragraph (a) may be extended in special circumstances: see section 124‑925. If it is extended, the day in subparagraph (e)(ii) changes too.

124‑885  Qualified licence roll‑over (same owner)

  There is a roll‑over if:
 (a) you apply for an *Australian financial services licence during the period beginning on 11 March 2002 and ending on 10 March 2004; and
 (b) at the time you make the application, you hold an Australian financial services licence to which section 1434 of the Corporations Act 2001 applies (the qualified licence); and
 (c) you are granted an Australian financial services licence as a result of the application (the new licence); and
 (d) if the new licence is granted on or before 10 March 2004—the qualified licence is revoked as a result of the new licence being granted to you; and
 (e) if the new licence is granted after 10 March 2004:
 (i) the qualified licence ceases to have