Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 2 - Dealing with clients ' money  

Subdivision A - Money other than loans  

REGULATION 7.8.02A   ACCOUNTS MAINTAINED FOR THE PURPOSES OF SECTION 981B OF THE ACT - SPECIAL RULES FOR RETAIL CLIENTS  

7.8.02A(1)    
Paragraph 7.8.02(1)(a) does not apply to a written direction to the extent the direction allows the financial services licensee to use derivative retail client money as mentioned in subregulation (3) of this regulation.

7.8.02A(2)    
Paragraph 7.8.02(1)(c) does not apply to an entitlement of the financial services licensee to use derivative retail client money as mentioned in subregulation (3) of this regulation.

7.8.02A(3)    
Subregulations (1) and (2) apply to using the money:


(a) as the licensee ' s capital, including working capital; or


(b) for the purpose of meeting obligations incurred by the licensee other than on behalf of the client; or


(c) for the purpose of entering into, or meeting obligations under, transactions that the licensee enters into to hedge, counteract or offset the risk to the licensee associated with a transaction between the licensee and the client.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.