Section 826U — Corporations Act 2001: Exemptions and modifications by regulations

(1) The regulations may: (a) exempt a person or class of persons from all or specified provisions covered by this Subdivision; or (b) exempt a clearing and settlement facility or class of clearing and settlement facilities from all or specified provisions covered by this Subdivision; or (c) declare that provisions covered by this Subdivision apply in relation to: (i) a person or a clearing and settlement facility; or (ii) a class of persons or clearing and settlement facilities; as if specified provisions were omitted, modified or varied as specified in the regulations. (2) If there is an inconsistency between: (a) an exemption prescribed by regulations made for the purposes of subsection (1); and (b) an exemption by ASIC under section 820C; (including in relation to any conditions specified by ASIC), the regulations prevail to the extent of the inconsistency.