33Transitional—trusts created before 20 September 2006

33  Transitional—trusts created before 20 September 2006

(1) For a trust created before 20 September 2006, a failure to comply with a requirement of Subdivision A of Division 11B of Part IIIB of the Veterans’ Entitlements Act 1986 concerning a particular matter does not prevent the trust being a special disability trust if:

 (a) the Commission, by written notice (an exemption notice) to the trustees, exempts the trust from the requirement as it concerns that matter; and

 (b) in a case where the exemption notice requires the trustees to comply with any conditions relating to the matter—the trustees comply with those conditions within the period (if any) stated in the exemption notice.

Note: For special disability trust, see section 52ZZZW of the Veterans’ Entitlements Act 1986.

(2) A period stated in an exemption notice for the purpose of paragraph (1)(b) must end at or before the end of 30 June 2007.

(3) An exemption notice has effect, subject to any conditions mentioned in paragraph (1)(b):

 (i) the start of 20 September 2006; or

 (ii) if the exemption notice states a time for the start of its period of effect that is after 20 September 2006—the stated time; and

 (b) until:

 (i) the end of 30 June 2007; or

 (ii) if the exemption notice states a time for the end of its period of effect that is before the end of 30 June 2007—the stated time.

(4) If guidelines are made under subitem (5), a decision in relation to giving an exemption notice to the trustees of the trust must be made in accordance with the guidelines.

(5) The Commission may, by legislative instrument, make guidelines for deciding any or all of the following:

 (a) whether or not to give exemption notices to trustees of trusts;

 (b) what conditions to include in exemption notices;

 (c) the periods for compliance with conditions in exemption notices;

 (d) the periods during which exemption notices are to have effect.