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 5
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Provisions common to both kinds of compensation arrangements
REGULATION 7.5.91
7.5.91
PAYMENT OF EXCESS MONEY FROM FIDELITY FUND
If there is excess money in a fidelity fund (other than the NGF), the market licensee to which the excess money relates may pay an amount of the excess money into an account that:
(a) is kept separately from other accounts used by the market licensee; and
(b) is designated as a ' financial industry development account ' .
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.]
If there is excess money in a fidelity fund (other than the NGF), the market licensee to which the excess money relates may pay an amount of the excess money into an account that:
(a) is kept separately from other accounts used by the market licensee; and
(b) is designated as a ' financial industry development account ' .
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