Corporations Amendment Regulations 2009 (No. 4) (70 of 2009)

Schedule 1   Amendments

[2]   Subregulation 7.8.01 (8), including the note

substitute

(8) For paragraph 981B (1) (c) of the Act, if a financial services licensee is required to call margins from a client under the operating rules of a licensed market or the operating rules of a licensed CS facility:

(a) the financial services licensee may operate an account to which that paragraph applies as:

(i) a clients' segregated account; or

(ii) a trust account;

in accordance with the operating rules; and

(b) if:

(i) the account is operated outside Australia; and

(ii) the law in force in the jurisdiction where it is maintained requires the account to be designated in a particular way;

the financial services licensee must designate the account in that way.

Note The operating rules may require client moneys, including moneys used for margining, to be held in either a clients' segregated account or a trust account.