Corporations Amendment Regulations 2004 (No. 2) (25 of 2004)

Schedule 1   Amendments

[14]   After subregulation 7.8.21 (4)

insert

(5) Subject to subregulation (6), for subsection 991F (3) of the Act, the subsection does not apply unless:

(a) the particular financial product that is acquired or proposed to be acquired is a financial product traded on a market in which the financial services licensee is not a participant at the time of the acquisition or the proposed acquisition; or

(b) the particular financial product is a derivative the value of which is derived from a financial product mentioned in paragraph (a).

(6) Subregulation (5) does not apply if:

(a) the financial services licensee deals, or has dealt, in a financial product traded on that market:

(i) on the licensee's own behalf (whether directly or through an agent or other representative); or

(ii) on behalf of a client; or

(b) an associate of the financial services licensee is a participant in the market mentioned in that subregulation.