Corporations Amendment Regulations 2004 (No. 2) (25 of 2004)

Schedule 1   Amendments

[12]   Regulation 7.8.17

insert

(2) Subject to subregulation (3), for paragraph 991B (3) (b) of the Act, subsection 991B (2) of the Act does not apply to a transaction if, at the time that the instruction is issued, the financial services licensee is not a participant in the licensed market on which the particular financial product is being traded.

(3) Subregulation (2) does not apply if:

(a) the financial services licensee deals, or has dealt, in a financial product traded on that market:

(i) on the licencee's own behalf (whether directly or through an agent or other representative); or

(ii) on behalf of a client; or

(b) an associate of the financial services licensee is a participant in the market mentioned in that subregulation.