8Amendment of regulations pursuant to Agreement

8 Amendment of regulations pursuant to Agreement

(1)  Where, under the Agreement, the Ministerial Council approves a proposed amendment of the regulations in force for the time being under the Commonwealth Act or the Futures Industry (Fees) Act 1986 of the Commonwealth and, on the expiration of 6 months after the date on which the Ministerial Council so approved, the amendment has not been made or has been made and is subject to disallowance or has ceased to be in force by disallowance or for any other reason, the Governor may make regulations in accordance with the proposed amendment approved by the Ministerial Council amending the provisions of regulations applying by reason of section 6 or the regulations referred to in section 7 , as the case may be.

(2)  Regulations made by the Governor under subsection (1) may amend Schedule 2 or 3 , and that Schedule as so amended shall be Schedule 2 or 3 , as the case may be, to this Act.

(3)  In this Act –

(a) a reference to provisions of regulations applying by reason of section 6 includes a reference to provisions as so applying as amended in accordance with this section; and

(b) a reference to fees prescribed by regulations under the Futures Industry (Fees) Act 1986 of the Commonwealth includes a reference to those regulations as amended in accordance with this section.