Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.8
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OTHER PROVISIONS RELATING TO CONDUCT ETC CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE
Division 4A
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Special provisions relating to margin lending facilities
Subdivision A
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Responsible lending conduct for margin lending facilities
REGULATION 7.8.10
7.8.10
CIRCUMSTANCES IN WHICH MARGIN LENDING FACILITY IS UNSUITABLE
For paragraph 985H(2)(b) of the Act, a margin lending facility, or a margin lending facility whose limit is proposed to be increased, is unsuitable for a retail client if the client: (a) is, on an ongoing basis, unable to be contacted by any of the usual means of communication; and (b) has not appointed an agent to act on the client ' s behalf.
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.]
For paragraph 985H(2)(b) of the Act, a margin lending facility, or a margin lending facility whose limit is proposed to be increased, is unsuitable for a retail client if the client: (a) is, on an ongoing basis, unable to be contacted by any of the usual means of communication; and (b) has not appointed an agent to act on the client ' s behalf.
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