SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 3.11 Payment by trustee of a public offer entity of commission or brokerage

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 3.11

  (1)   This regulation applies in relation to a person who, immediately before this regulation commences, was entitled to a payment of commission or brokerage in the circumstances mentioned in paragraph   3.10(3)(a), (b), (d), (e) or (f) of the SIS Regulations.

  (2)   Regulation   3.10, as in force immediately before this regulation commences, continues to apply in relation to the person's entitlement.

  (3)   Subregulation (2) ceases to apply in relation to the entitlement on the earlier of:

  (a)   the day on which the person becomes a financial services licensee in relation to the activity to which the payment relates; and

  (b)   the end of the transition period for the person mentioned in section   1438 of the Corporations Act 2001 .