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CORPORATIONS ACT 2001 - SECT 1705D

Transitional--applications for an Australian CS facility licence undecided before the commencement time

  (1)   This section applies to an application for an Australian CS facility licence if:

  (a)   the application is lodged under section   824A as in force before the commencement time; and

  (b)   before the commencement time, the Minister had not made a decision under section   824B in relation to the application.

  (2)   This Act, as in force immediately before the commencement time, (the old Act ) continues to apply, at and after the commencement time, in relation to the application despite the amendments made by Part   1 of the amending Schedule.

  (3)   However, if at or after the commencement time, the Minister decides the application by granting a licence under section   824B of the old Act, the licence is taken to be (and may be dealt with as if it were) granted as follows:

  (a)   if the licence is granted under subsection   824B(1) of the old Act--as if the licence had been granted under subsection   824B(1) as amended by Part   1 of the amending Schedule;

  (b)   if the licence is granted under subsection   824B(2) of the old Act--as if the licence had been granted under subsection   824B(2) as amended by Part   1 of the amending Schedule.



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