Migration Regulations 1994

For the purposes of subsection 140G(3) of the Act, the terms of an approval of a person as a standard business sponsor are prescribed in this regulation.

An approval as a standard business sponsor starts:

on the day on which the approval is granted; or

if, immediately before the day on which the approval is granted, the person was because of an earlier approval a standard business sponsor other than an overseas business sponsor—immediately after the earlier approval ceases.

However, an approval as a standard business sponsor does not start if:

immediately before the day on which the approval is granted, the person was because of an earlier approval a standard business sponsor other than an overseas business sponsor; and

before the time at which the approval would otherwise start, the person’s approval as a standard business sponsor is cancelled.

An approval as a standard business sponsor ceases:

if, immediately after the approval starts, the person is an overseas business sponsor—on the earlier of the following:

the start of a later approval of the person as a standard business sponsor;

5 years after the day on which the approval is granted; or

in any other case—5 years after the day on which the approval is granted.