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.]
For section 892G of the Act, if, on a day:
(a) a fidelity fund (other than the NGF) is the sole source of funds available to cover claims for the purposes of Division 3 arrangements; and
(b) the amount in the fidelity fund is greater than the minimum amount of cover identified in accordance with paragraph 882A(4) (a) of the Act;
the amount by which it is greater is excess money.
7.5.87(2) [ Fidelity fund not sole source of funds]For section 892G of the Act, if, on a day:
(a) a fidelity fund (other than the NGF) is not the sole source of funds available to cover claims for the purposes of Division 3 arrangements; and
(b) the amount in the fidelity fund is greater than the minimum amount of cover specified in accordance with paragraph 882A(4) (a) of the Act, reduced by the sum of the amounts of cover from each other source of funds available for the purposes of the same Division 3 arrangements;
the amount by which it is greater is excess money.
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