Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.5
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COMPENSATION REGIMES FOR FINANCIAL MARKETS
Division 4
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NGF Compensation regime
Subdivision 4.7
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Unauthorised transfer
REGULATION 7.5.59
7.5.59
NEXUS WITH AUSTRALIA
Regulations 7.5.54 and 7.5.55 do not entitle a person to make a claim unless the dealer was on the day of the unauthorised execution a participant of a participating market licensee and:
(a) the dealer was carrying on a securities business in Australia on that day; or
(b) if the dealer was not so carrying on such a business and was not carrying on a securities business outside Australia on that day - the last securities business that the dealer carried on before that day was carried on in Australia.
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
Regulations 7.5.54 and 7.5.55 do not entitle a person to make a claim unless the dealer was on the day of the unauthorised execution a participant of a participating market licensee and:
(a) the dealer was carrying on a securities business in Australia on that day; or
(b) if the dealer was not so carrying on such a business and was not carrying on a securities business outside Australia on that day - the last securities business that the dealer carried on before that day was carried on in Australia.
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