Regulatory Alerts2020-01-01
Financial Services (Exemption from Approval of Controllers and Beneficial Owners) (Revocation) Rules 2020
The Financial Services Commission issued these rules to revoke the 2017 exemption framework governing controllers and beneficial owners. This revocation reinstates standard approval requirements under the Financial Services Act for entities previously exempted from controller and beneficial owner assessments. Deemed effective from 9 July 2020, the rules formally took effect upon their promulgation on 22 October 2020.
Government Notices 2020 875 Government Notice No. 265 of 2020 FINANCIAL SERVICES ACT FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act
- Citation These Rules may be cited as the Financial Services (Exemption from Approval of Controllers and Beneficial Owners) (Revocation) Rules 2020.
- Interpretation “principal rules” means the Financial Services (Exemption from Approval of Controllers and Beneficial Owners) Rules 2017.
- The principal rules are revoked.
- These rules shall be deemed to have come into operation on 9 July 2020. Made by the Financial Services Commission on 22 October
OliImac2 / Govt Notices 2020 / FSC / The Financial Services (Exemption from Approval of Controllers and Beneficial Owners) (Revocation) Rules 2020 / 2 Proof - 28.10.2020