Western Australian Consolidated Regulations Western Australian Consolidated Regulations[r. 16]
1 . Term used in this Schedule
In this
Schedule —
commencement day means the day on which the
Finance Brokers (Control) Amendment Act 2004 comes into operation.
2 . Licences for former certificate holders after
the commencement day
(1) A finance broker
who held a licence immediately before the commencement day and who also held a
business certificate that was not restricted in the type of loan it authorised
is, for the purpose of these provisions, taken to be the holder of an
“A” class licence for what would be the remaining period of
currency of the business certificate.
(2) A finance broker
who held a licence immediately before the commencement day and who also held a
business certificate that was endorsed with a condition restricting the type
of loan it authorised is, for the purpose of these provisions, taken to be the
holder of a “B” class licence for what would be the remaining
period of currency of the business certificate.
(3) A finance broker
who held a licence immediately before the commencement day and who also held a
business certificate that was endorsed with a condition restricting both the
type of loan it authorised, and tying the certificate holder to another broker
is, for the purpose of these provisions, taken to be the holder of a
“C” class licence for what would be the remaining period of
currency of the business certificate.