CORPORATIONS REGULATIONS 2001 - REG 10.2.57 Loan money: financial services licensee who formerly held dealer's licence

CORPORATIONS REGULATIONS 2001 - REG 10.2.57

  (1)   For section   1444 of the Act, this regulation applies in relation to a financial services licensee who is a regulated principal mentioned in item   1 of the table in section   1430 of the Act, and whose financial services licence covers regulated activities for a regulated principal of that kind, in relation to money:

  (a)   received by the person before the end of the transition period in relation to the person in the capacity of a regulated principal of this kind; and

  (b)   to which section   872 of the old Corporations Act applied.

  (2)   Section   872 of the old Corporations Act, and any associated provisions, continue to apply in relation to the regulated principal after the end of the transition period in relation to:

  (a)   the person in the capacity of a regulated principal of that kind; and

  (b)   the money;

as if the person were a dealer within the meaning of the old Corporations Act.