Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023 (69 of 2023)

Schedule 2   ALRC Financial Services Interim Report

Part 3   Other amendments

Division 1   Single use definitions

Corporations Act 2001

103   At the end of section 768A

Add:

Meaning of participant

(3) A person who is allowed to participate directly in a clearing and settlement facility under the facility's operating rules is a participant in the facility.

(4) A person who is:

(a) recognised by the operating rules of the facility as a suitably qualified affiliate of the facility; and

(b) involved in the carrying on of a financial services business (including as an employee, director or in some other capacity);

is also, for the purposes of the following provisions, a participant in the facility:

(c) paragraph 821B(2)(b);

(d) section 822B;

(e) subsection 915F(2);

(f) any other provisions prescribed by regulations for the purposes of this paragraph.