Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 2   ALRC Financial Services Interim Report: single glossary of defined terms

Part 3   Consequential amendments of other Acts

Financial Transaction Reports Act 1988

646   Subsection 9(4)

Repeal the subsection, substitute:

(4) A significant cash transaction is also an exempt transaction if it is between:

(a) a financial services licensee (within the meaning of the Corporations Act 2001) whose licence covers dealing in derivatives (within the meaning of Chapter 7 of that Act); and

(b) a clearing and settlement facility (within the meaning of that Act) that is associated with a financial market (within the meaning of Chapter 7 of that Act) of which the financial services licensee is a member.