32AApplication of sections 64 and 65 of the National Credit Act before commencement

32A Application of sections 64 and 65 of the National Credit Act before commencement (1) This item applies during the period that: (a) starts at the same time as the start of the period referred to in subitem 11(2); and (b) ends immediately before commencement. (2) Sections 64 and 65 (which deal with the authorisation of credit representatives) of the National Credit Act apply during the period as if: (a) all references to a licensee were references to a registered person; and (b) all references to a licensee’s licence were references to a registered person’s registration. (3) An authorisation of a credit representative that is given under section 64 or 65 of the National Credit Act (as those sections apply because of subitem (2)) during the period is taken not to be given until commencement. (4) Despite subitem (3), a body corporate that has been authorised as a credit representative under subsection 64(1) of the National Credit Act (as it applies because of subitem (2)) during the period may authorise natural persons as credit representatives under subsection 65(1) of the National Credit Act (as it applies because of subitem (2)) during the period.