Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) The Secretary may, in writing, declare an issuing body to be a transitional issuing body.
(2) If the Secretary declares an issuing body to be a transitional issuing body, the following apply to the body:
(a) beginning on the day after the Secretary makes the declaration, the transitional issuing body:
(i) must not issue a new ASIC unless the issuing body received the application for the ASIC before the issuing body was declared to be a transitional issuing body; and
(ii) must not apply to the Secretary AGD for a background check, other than under regulation 6.41A;
(b) the transitional issuing body continues to be the issuing body for any ASICs issued by the issuing body, and may issue replacement ASICs;
(c) the transitional issuing body's authorisation as an issuing body is taken to be revoked immediately after the expiry or cancellation of the last ASIC issued by the body.
Note: A transitional issuing body remains an issuing body (see the definition of issuing body in subregulation 6.01(1)).