Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

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Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

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History

Ch 7 amended by No 8 of 2022, s 3, Sch 2[165] (effective 1 July 2022).

Ch 7 inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

As Act No 122 of 2001 repealed Ch 7 and 8 the history notes for Ch 7 use " inserted " and references to the former provisions have been removed.

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

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CCH note - modifying legislative instruments: The application of Pt 7.8 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669 (Div 8 only) (as amended by ASIC Corporations (Amendment) Instrument 2024/554).

For legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.8, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.

Division 2 - Dealing with clients ' money  

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CCH Note: Division 2 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

Subdivision A - Money other than loans  

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CCH Note: Subdivision A is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

SECTION 981F  

981F   REGULATIONS MAY DEAL WITH HOW MONEY TO BE DEALT WITH IF LICENSEE CEASES TO BE LICENSED ETC.  

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CCH Note: Section 981F is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

The regulations may include provisions dealing with how money in an account maintained for the purposes of section 981B , or an investment of such money, is to be dealt with if:

(a)    the licensee ceases to be a financial services licensee; or

(b)    the licensee becomes insolvent, within the meaning of the regulations; or

(c)    the licensee merges with another financial services licensee; or

(d)    the licensee ceases to carry on some or all of the activities authorised by their licence.

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History

S 981F inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

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