(1) Section 12(1)
omit
(3)(b).
insert
(3)(b) or (4).
(2) After section 12(3)
insert
(4) An applicant is exempt from the requirement under subsection (1) if:
(a) the commencement date for the transaction to which the application relates is on or after 28 April 2015; and
(b) at least one other applicant to the application complies with the requirement under subsection (1).