Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.1 - PRELIMINARY  

Division 4 - Dealings in financial products  

REGULATION 7.1.35A  

7.1.35A   CONDUCT THAT DOES NOT CONSTITUTE DEALING IN A FINANCIAL PRODUCT - LAWYERS ACTING ON INSTRUCTIONS  

For subsection 766C(7) of the Act, a financial service provided by a lawyer is taken not to be dealing in a financial product if:

(a) the financial service consists of:

(i) arranging for a person to engage in conduct referred to in subsection 766C(1) of the Act; or

(ii) dealing as an agent or otherwise on behalf of a client, an associate of a client or a relative of a client; and

(b) the lawyer is acting:

(i) on the instructions of the client, an associate of the client or a relative of the client; and

(ii) in his or her professional capacity; and

(iii) in the ordinary course of his or her activities as a lawyer; and

(c) the financial service can reasonably be regarded as a necessary part of those activities; and

(d) the lawyer has not received, and will not receive, a benefit in connection with those activities other than:

(i) the payment of professional charges in relation to those activities; and

(ii) reimbursement for expenses incurred or payment on account of expenses to be incurred on behalf of the client, an associate of the client or a relative of the client;

from the client or from another person on behalf of the client.