sec.20Application of s 8 to existing licensees

### sec.20 Application of s 8 to existing licensees This section applies to a person who, on the commencement, is a licensee to whom this regulation applies. Section 8 applies to the person as if— the following day were the annual reporting day for the person— if the person is a category 4, 5, 6 or 7 licensee under the continued MFR policy—31 March 2019; if the person is a category SC1, SC2, 1, 2 or 3 licensee under the continued MFR policy—31 December 2019; and the year stated in the notice given to the person under subsection (4) were the most recent reporting year in relation to the day mentioned in paragraph (a). However, the person does not commit an offence against section 8 if the person can not comply with that section because— the person does not have the financial information required to be given under that section in relation to a period occurring before the commencement; and the financial information was not, before the commencement, required to be kept by the person under the Act or another Act or law. Within 20 business days after the commencement, the commission must give the person a written notice stating details of the person’s obligation to comply with section 8 as it applies under this section, including the year for which the person must give financial information. The licensee may not apply under section 10(2) to change the day mentioned in subsection (2)(a). This section does not limit the application of section 8 in relation to an annual reporting day for the person that is after the day mentioned in subsection (2)(a). (sec.20-ssec.1) This section applies to a person who, on the commencement, is a licensee to whom this regulation applies. (sec.20-ssec.2) Section 8 applies to the person as if— the following day were the annual reporting day for the person— if the person is a category 4, 5, 6 or 7 licensee under the continued MFR policy—31 March 2019; if the person is a category SC1, SC2, 1, 2 or 3 licensee under the continued MFR policy—31 December 2019; and the year stated in the notice given to the person under subsection (4) were the most recent reporting year in relation to the day mentioned in paragraph (a). (sec.20-ssec.3) However, the person does not commit an offence against section 8 if the person can not comply with that section because— the person does not have the financial information required to be given under that section in relation to a period occurring before the commencement; and the financial information was not, before the commencement, required to be kept by the person under the Act or another Act or law. (sec.20-ssec.4) Within 20 business days after the commencement, the commission must give the person a written notice stating details of the person’s obligation to comply with section 8 as it applies under this section, including the year for which the person must give financial information. (sec.20-ssec.5) The licensee may not apply under section 10(2) to change the day mentioned in subsection (2)(a). (sec.20-ssec.6) This section does not limit the application of section 8 in relation to an annual reporting day for the person that is after the day mentioned in subsection (2)(a). - (a) the following day were the annual reporting day for the person— (i) if the person is a category 4, 5, 6 or 7 licensee under the continued MFR policy—31 March 2019; (ii) if the person is a category SC1, SC2, 1, 2 or 3 licensee under the continued MFR policy—31 December 2019; and - (i) if the person is a category 4, 5, 6 or 7 licensee under the continued MFR policy—31 March 2019; - (ii) if the person is a category SC1, SC2, 1, 2 or 3 licensee under the continued MFR policy—31 December 2019; and - (b) the year stated in the notice given to the person under subsection (4) were the most recent reporting year in relation to the day mentioned in paragraph (a). - (i) if the person is a category 4, 5, 6 or 7 licensee under the continued MFR policy—31 March 2019; - (ii) if the person is a category SC1, SC2, 1, 2 or 3 licensee under the continued MFR policy—31 December 2019; and - (a) the person does not have the financial information required to be given under that section in relation to a period occurring before the commencement; and - (b) the financial information was not, before the commencement, required to be kept by the person under the Act or another Act or law.