Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The regulations may:
(a) exempt a person or class of persons from all or specified provisions covered by this Subdivision; or
(b) exempt a clearing and settlement facility or class of clearing and settlement facilities from all or specified provisions covered by this Subdivision; or
(c) declare that provisions covered by this Subdivision apply in relation to:
(i) a person or a clearing and settlement facility; or
(ii) a class of persons or clearing and settlement facilities;
as if specified provisions were omitted, modified or varied as specified in the regulations.
(2) If there is an inconsistency between:
(a) an exemption prescribed by regulations made for the purposes of subsection (1); and
(b) an exemption by ASIC under section 820C;
(including in relation to any conditions specified by ASIC), the regulations prevail to the extent of the inconsistency.