CORPORATIONS ACT 2001 - SECT 1699E Transitional--registration prohibition orders

CORPORATIONS ACT 2001 - SECT 1699E

  (1)   This section applies to a registration prohibition order that:

  (a)   was in force immediately before the commencement of the amending Part   in relation to a registration under subsection   921ZC(1) of a relevant provider; and

  (b)   specified a cancellation time for that registration; and

  (c)   specified a prohibition end day that is after the commencement of the amending Part.

  (2)   The registration prohibition order continues in force (and may be dealt with) on and after that commencement as if it were an instrument of a kind that:

  (a)   is specified in paragraph   921L(1)(c) as substituted by the amending Part; and

  (b)   if the cancellation time is at or after the commencement of the amending Part--cancels at the cancellation time the relevant provider's registration under subsection   921ZC(1) or (1A) as substituted by the amending Part; and

  (c)   provides that the person who is or was the relevant provider is not to be registered under subsection   921ZC(1) or (1A), as substituted by the amending Part, until after the prohibition end day.

Note 1:   If the cancellation time was before the commencement of the amending Part, then the cancellation of the provider's registration will have already taken effect before that commencement.

Note 2:   If the cancellation time is at or after that commencement, section   1699A will continue the provider's registration up until the cancellation time. Paragraph   (b) of this subsection confirms that the provider's registration will then be cancelled at the cancellation time.

Note 3:   Paragraph   (c) confirms that the person is not to be registered again until after the prohibition end day.