Commonwealth Numbered Regulations

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Transfer of registered person from State scheme to Commonwealth scheme

         (1)   This regulation is made for paragraphs 9 (2) (a) and (b) of Schedule 3 to the amendment Act.

         (2)   The provisions in subregulation (3) apply in relation to a person who is registered under a State Act if, on or after 1 February 2010 but before 2 November 2010, a State regulator gives to the Commonwealth regulator a written notice that:

                (a)    states that the person has requested the State regulator to notify the Commonwealth regulator that the person wishes to be registered under the Commonwealth Act; and

               (b)    sets out the person's registration number and account name under the State Act; and

                (c)    states whether the person is registered as a person who may create certificates or a person to whom certificates may be assigned; and

               (d)    sets out the person's postal address, telephone number, fax number (if any) and email address (if any).

         (3)   For subregulation (2), the following provisions apply:

                (a)    upon receipt of the notice by the Commonwealth regulator:

                          (i)    the person is taken to have made an application (the deemed application ) in accordance with section 10 of the Commonwealth Act; and

                         (ii)    the Commonwealth regulator is taken to have approved the deemed application under section 11 of the Commonwealth Act;

               (b)    as soon as practicable after receipt of the notice, the Commonwealth regulator:

                          (i)    must register the person under the Commonwealth Act as a person who may create certificates or as a person to whom certificates may be assigned, as the case requires; and

                         (ii)    must allocate the person a unique registration number and must advise the person of the number;

                (c)    the person is, in relation to the deemed application, exempt from the fee prescribed under the Commonwealth Regulations for the making of applications under section 10 of the Commonwealth Act.

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