Corporations Amendment Regulations 2009 (No. 4)

(70 of 2009)

Dated 30 April 2009

Corporations Act 2001

1   Name of Regulations

These Regulations are the Corporations Amendment Regulations 2009 (No. 4).

2   Commencement

These Regulations commence on the day after they are registered.

3   Amendment of Corporations Regulations 2001

Schedule 1 amends the Corporations Regulations 2001.

Schedule 1   Amendments

[1]   Paragraph 7.8.01 (5) (c)

omit

licensed financial market)

insert

licensed market or licensed CS facility)

[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.

[3]   Schedule 8C, after item 10

insert

10AAfter subsection 892B (1), including the note

insert

(1A) Nothing in subsection (1) prevents the Minister approving, in accordance with section 884C, a change to Division 3 arrangements that includes the withdrawal of money from an account or accounts holding a fidelity fund.

[4]   Further amendments - licensed market

The following provisions are amended by omitting 'licensed financial market' and inserting 'licensed market':

·subregulation 7.8.01 (4A)

·paragraph 7.8.02 (1) (f)

·regulation 7.9.07C

·subregulation 7.9.63B (3).