Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.1 - PRELIMINARY  

Division 4 - Meaning of financial service and related terms  

SECTION 766D   MEANING OF MAKES A MARKET  

766D(1)    

A person makes a market for a financial product if:

(a)    either through a facility, at a place or otherwise, the person regularly states the prices at which they propose to acquire or dispose of financial products on their own behalf; and

(b)    other persons have a reasonable expectation that they will be able to regularly effect transactions at the stated prices; and

(c)    the actions of the person do not, or would not if they happened through a facility or at a place, constitute operating a financial market because of the effect of paragraph 767A(2)(a) .

766D(2)    
Paragraph (1)(a) does not apply to a person stating prices at which they propose to acquire or dispose of financial products if:

(a)    the person is the issuer of the products; and

(b)    

the products are:

(i) superannuation products; or

(ii) managed investment products; or

(iii) financial products referred to in paragraph 764A(1)(ba) (which relates to certain managed investment schemes that are not registered schemes); or

(iv) foreign passport fund products.