if it makes such an order make such other orders as it thinks – are necessary or desirable because of that order. [Schedule 1, item 3, subsection 993DN(1) of the Corporations Act] There are other orders that a court may make where it has declared a contract void, including, for example: an order for the return of money paid by a person and an order for payment of an amount of interest specified in, or calculated in accordance with, the order. [Schedule 1, item 3, subsection 993DN(2) of the Corporations Act] Consequential amendments The new law makes a consequential amendment to existing section 760B of the Corporations Act. The amendment updates the table in the section so that it refers to the new law. The amendment ensures that the outline to Chapter 7 of the Corporations Act, which is contained in section 760B, remains current. [Schedule 1, item 2, section 760B of the Corporations Act] Application and transitional provisions The new law contains transitional arrangements for existing financial products. An existing financial product is one where the first issue of the product occurs before the commencement of Schedule 1 of the Bill. The new design and distribution regime applies to such products 24 months after the new law receives the Royal Assent. [Section 2 and schedule 1, item 14] The new design and distribution regime applies to all other financial products on the day that Schedule 1 of the Bill commences. That is, 12 months after the new law receives the Royal Assent [section 2 and Schedule 1, item 14]
if it makes such an order – make such other orders as it thinks are necessary or desirable because of that order. [Schedule 1, item 3, subsection 993DN(1) of the Corporations Act] There are other orders that a court may make where it has declared a contract void, including, for example: an order for the return of money paid by a person and an order for payment of an amount of interest specified in, or calculated in accordance with, the order. [Schedule 1, item 3, subsection 993DN(2) of the Corporations Act] Consequential amendments The new law makes a consequential amendment to existing section 760B of the Corporations Act. The amendment updates the table in the section so that it refers to the new law. The amendment ensures that the outline to Chapter 7 of the Corporations Act, which is contained in section 760B, remains current. [Schedule 1, item 2, section 760B of the Corporations Act] Application and transitional provisions The new law contains transitional arrangements for existing financial products. An existing financial product is one where the first issue of the product occurs before the commencement of Schedule 1 of the Bill. The new design and distribution regime applies to such products 24 months after the new law receives the Royal Assent. [Section 2 and schedule 1, item 14] The new design and distribution regime applies to all other financial products on the day that Schedule 1 of the Bill commences. That is, 12 months after the new law receives the Royal Assent [section 2 and Schedule 1, item 14]