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.