Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.5
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COMPENSATION REGIMES FOR FINANCIAL MARKETS
Division 4
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NGF Compensation regime
Subdivision 4.9
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Claims in respect of insolvent participants
REGULATION 7.5.68
7.5.68
NEXUS WITH AUSTRALIA
This Subdivision does not, because of a person (the dealer ) having become insolvent at a particular time, entitle a person to make a claim in respect of property unless:
(a) the dealer was at that time a participant of at least 1 of the following:
(b) either:
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
This Subdivision does not, because of a person (the dealer ) having become insolvent at a particular time, entitle a person to make a claim in respect of property unless:
(a) the dealer was at that time a participant of at least 1 of the following:
(i) a participating market licensee;
(ii) the licensed CS facility operated by ACH; and
(b) either:
(i) the dealer was carrying on a securities business in Australia at that time; or
(ii) the last business that the dealer carried on in Australia before that time was a securities business, and the person's claim relates to that business as it was carried on in Australia.
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