Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
This regulation applies to a person (the buying client ) if:
(a) a dealer enters into a reportable transaction on behalf of the buying client; and
(b) the reportable transaction is a purchase of securities; and
(c) a transfer of the securities concerned pursuant to the purchase would not be an ASTC-regulated transfer; and
(d) at the end of the prescribed period for the transaction:
(i) if subparagraph (ii) does not apply, the buying client has paid to the dealer the purchase price in relation to the purchase; and
(ii) the dealer has been suspended by the participating market licensee concerned or ACH, that suspension has not been removed and the buying client has paid, or is ready, willing and able to pay, to the dealer the purchase price in relation to the purchase; and
(iii) the dealer's obligations to the buying client in respect of the purchase, in so far as they relate to settlement documents in relation to the purchase, have not been discharged.
The buying client may make a claim in respect of the purchase.
The buying client may make a single claim under this regulation in respect of 2 or more purchases.
A claim made under subregulation (3) is to be treated for subregulation (5) as if it consisted of a separate claim in respect of each of the purchases to which it relates.
The SEGC must allow the claim if the SEGC is satisfied that:
(a) subregulation (1) entitles the buying client to make the claim; and
(b) either:
(i) the buying client has paid to the dealer the amount of the consideration for the purchase under the agreement for the purchase; or
(ii) the buying client has paid to the SEGC the amount of the consideration for the purchase for the purposes of the claim; and
(c) the dealer's obligations to the buying client in respect of the purchase, in so far as they relate to settlement documents in relation to the purchase, have not been discharged.
If the SEGC allows a claim in respect of a purchase of securities, the SEGC must, subject to regulation 7.5.29 , supply to the buying client settlement documents in relation to the purchase.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
