9Rental pools covered by ASIC Class Order \[CO 02/237\]

9 Rental pools covered by ASIC Class Order [CO 02/237]

(1) Subsections (2) and (3) apply in relation to a person that operates or provides financial services in relation to an interest in a rental pool that was operated or purportedly was operated in reliance on ASIC Class Order [CO 02/237] (the old class order) immediately before the repeal of that class order.

(2) The old class order as in force immediately before its repeal continues to apply to the person despite its repeal as if the following amendments were made:

(a) in the First Exemption at subparagraph 1(e) omit “once every 6 months”, and substitute “annually”;

(b) in the Second Exemption at paragraph (b) omit “once every 6 months”, and substitute “annually”.

(3) The exemption (including any related conditions and as affected by subsection (2)) in the old class from the requirement to hold an Australian financial services licence that is expressed to be made under paragraph 911A(2)(l) has effect under section 926A of the Act instead.