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FINANCIAL SECTOR (COLLECTION OF DATA-CONSEQUENTIAL AND TRANSITIONAL PROVISIONS) ACT 2001 NO. 121, 2001 - SCHEDULE 3-Transitional

provisions

1
Treatment of certain exemptions and determinations in connection
with obligations of corporations to register

An exemption or determination by the Reserve Bank that was in force immediately before the commencement of this Schedule under paragraph 8(2)(l) of the Financial Corporations Act 1974 continues to have effect as if it were an exemption or determination by APRA under paragraph 7(2)(j) of the Financial Sector (Collection of Data) Act 2001 .

2
Former Register of Corporations

On the commencement of this Schedule, the Register of Corporations that, immediately before that commencement, was kept by the Reserve Bank under subsection 9(9) of the Financial Corporations Act 1974 continues in existence as the Register of Entities kept by APRA under section 8 of the Financial Sector (Collection of Data) Act 2001 .

3
Former list of registered corporations and categories

(1) On the commencement of this Schedule:

(a)
the list (the former list ) of registered corporations, divided into categories, that, immediately before that commencement, was prepared by the Reserve Bank under section 10 of the Financial Corporations Act 1974 continues in existence as a list (the new list ) of the names of registered entities, divided into categories, kept by APRA under subsection 11(1) of the Financial Sector (Collection of Data) Act 2001 ; and
(b)
a reference in any instrument having effect under an Act to a corporation included in a particular category in the former list is taken to be a reference to that corporation in its capacity as a registered entity included in the corresponding category in the new list.

(2) An obligation on the Reserve Bank to publish notice, or to notify a person, of a matter under section 10 of the Financial Corporations Act 1974 , being an obligation that is undischarged as at the commencement of this Schedule, becomes, on that commencement, an obligation that APRA is to discharge in respect of the corresponding matter under section 11 of the Financial Sector (Collection of Data) Act 2001 .
(3) A determination by the Reserve Bank that was in force under a provision of section 10 of the Financial Corporations Act 1974 immediately before the commencement of this Schedule continues to have effect, after that commencement, as if it were a determination by APRA under the corresponding provision of section 11 of the Financial Sector (Collection of Data) Act 2001 .
(4) A request to the Reserve Bank under subsection 10(7) of the Financial Corporations Act 1974 that has not been dealt with by the commencement of this Schedule is, after that commencement, to be dealt with by APRA as if it were a request under subsection 11(7) of the Financial Sector (Collection of Data) Act 2001 .

4
Definitions

In this Schedule:
"APRA" means the Australian Prudential Regulation Authority.
"Reserve Bank" means the Reserve Bank of Australia.




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