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As Act No 122 of 2001 repealed Ch 7 and 8 the history notes for Ch 7 use " inserted " and references to the former provisions have been removed.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 4A - Special provisions relating to margin lending facilities  

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CCH Note: Division 4A is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

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History

Div 4A inserted by No 108 of 2009, Sch 1 [ 12].

Subdivision B - Notice of margin calls under margin lending facilities  

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

SECTION 985L  

985L   ISSUE OF MARGIN LENDING FACILITY MUST NOT BE CONDITIONAL ON AGREEMENT TO RECEIVE COMMUNICATIONS THROUGH AGENT  

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CCH Note: Section 985L is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

A financial services licensee must not require, as a condition of issuing a margin lending facility to a retail client, that the retail client enter into an agreement of the kind referred to in subsection 985M(2) (which deals with agreements about communications in relation to margin lending facilities).

Note: This section is a civil penalty provision (see section 1317E ).

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History

S 985L inserted by No 108 of 2009, Sch 1 [ 12].

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