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 noteMoney in: (a) a fidelity fund that is the source, or a source, of funds under Division 3 arrangements; or (b) the NGF;
must, until applied in paying claims or otherwise spent for the purposes of this Part, or invested in accordance with section 892C , be kept by the Part 7.5 authority in an account or accounts:
(c) with an Australian ADI; or (d) of a kind prescribed by regulations made for the purposes of this paragraph;separate from any account or accounts in which other money is kept.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
892B(2)
The regulations may impose additional requirements to be complied with in relation to the keeping of a Part 7.5 regulated fund that covers 2 or more financial markets.
892B(3)
If: (a) a source of funds under Division 3 arrangements for a financial market is something other than a fidelity fund; and (b) the operator of the market, or a person involved in the administration of the arrangements, receives money from that source of funds;
the money received must, until applied in paying claims or otherwise spent for the purposes of this Part, or invested in accordance with section 892C , be kept by the Part 7.5 authority in an account or accounts:
(c) with an Australian ADI; or (d) of a kind prescribed by regulations made for the purposes of this paragraph;separate from any account or accounts in which other money is kept.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
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