Treasury Laws Amendment (2016 Measures No. 1) Act 2017 (25 of 2017)

Schedule 5   Client money

Part 1   Client money and property

Corporations Act 2001

1   Section 761A

Insert:

authorised clearing and settlement facility means:

(a) a licensed CS facility; or

(b) a clearing and settlement facility that satisfies the following requirements:

(i) the operator of the facility is authorised to operate the facility in the foreign country in which the operator's principal place of business is located;

(ii) any requirements specified in regulations made for the purposes of this subparagraph.

derivative retail client money : money paid as mentioned in subsection 981A(1) is derivative retail client money if:

(a) either:

(i) the financial service referred to in subparagraph 981A(1)(a)(i) is or relates to a dealing in a derivative; or

(ii) the financial product referred to in subparagraph 981A(1)(a)(ii) is a derivative; and

(b) the financial service or product would be provided to the client as a retail client if:

(i) the service or product were provided to the client when the money is paid; and

(ii) section 761GA (about sophisticated investors) did not apply.

derivative retail client property : property given as mentioned in subsection 984A(1) is derivative retail client property if:

(a) either:

(i) the financial service referred to in subparagraph 984A(1)(a)(i) is or relates to a dealing in a derivative; or

(ii) the financial product referred to in subparagraph 984A(1)(a)(ii) is a derivative; and

(b) the financial service or product would be provided to the client as a retail client if:

(i) the service or product were provided to the client when the property is given; and

(ii) section 761GA (about sophisticated investors) did not apply.