Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteA financial market is a facility through which: (a) offers to acquire or dispose of financial products are regularly made or accepted; or (b) offers or invitations are regularly made to acquire or dispose of financial products that are intended to result or may reasonably be expected to result, directly or indirectly, in:
(i) the making of offers to acquire or dispose of financial products; or
(ii) the acceptance of such offers.
767A(2)
However, the following conduct does not constitute operating a financial market : (a) a person making or accepting offers or invitations to acquire or dispose of financial products on the person ' s own behalf, or on behalf of one party to the transaction only, unless the regulations specify circumstances in which such conduct does constitute operating a financial market and the person ' s conduct occurs in circumstances so specified; (b) conducting treasury operations between related bodies corporate; (c) a person, being the holder of a licence under an Australian law relating to the licensing of auctioneers, conducting an auction of forfeited shares; (d) any other conduct of a kind prescribed by regulations made for the purposes of this paragraph.
767A(3)
Something that is done through or by means of the facility that constitutes a financial market is done on the financial market.
Note: For example, when securities are quoted or traded on a financial market.
Meaning of participant
767A(4)
A person who is allowed to participate directly in a financial market under the market ' s operating rules is a participant in the market.
767A(5)
A person who is: (a) recognised by the operating rules of the market as a suitably qualified affiliate of the market; and (b) involved in the carrying on of a financial services business (including as an employee, director or in some other capacity);
is also, for the purposes of the following provisions, a participant in the market:
(c) paragraph 792B(2)(b) ; (d) section 793B ; (e) section 883A ; (f) subsection 915F(2) ; (g) paragraphs 923B(3)(a) and (b) ; (h) any other provisions prescribed by regulations for the purposes of this paragraph.
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