Section 1676B — Corporations Act 2001: Automatic extension of licence conditions—licence applications pending just before commencement day

(1) This section applies if: (a) before the commencement day, a person lodges an application for an Australian financial services licence authorising the person to deal in a superannuation product; and (b) on or after the commencement day, ASIC decides the application by granting the person an Australian financial services licence authorising the person to deal in a superannuation product; and (c) at the time the licence is granted, the person is an RSE licensee. (2) The licensee’s Australian financial services licence is taken from the time it is granted to also be subject to a condition authorising the licensee to provide a superannuation trustee service.