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.]
The Minister may approve, in writing, a matter as an approved purpose for which excess money may be used by a market licensee.
(a) the creation of, or participation in, a program for the development of the financial industry that:
(i) is conducted primarily for a public benefit; and
(ii) is not conducted primarily to promote the profitability of the commercial operations of any market; or
(b) the payment of premiums for fidelity insurance or other compensation arrangements for the financial market as part of an approved compensation arrangement for Division 3 of Part 7.5 of the Act; or
(c) costs paid by the market licensee in relation to ASIC ' s responsibilities for market supervision created by the Corporations Amendment (Financial Market Supervision) Act 2010 ; or
(d) the making of payments to ASIC by the market licensee in relation to ASIC ' s responsibilities for market supervision created by the Corporations Amendment (Financial Market Supervision) Act 2010 .
Examples for paragraph (2)(a)
1. Public education activities.
2. Research into future product or service needs.
3. Research and consulting services intended to improve the international performance of Australian financial markets.
4. Improvement of Australia's role as a financial centre.
The Minister may, in relation to an approved purpose, determine conditions to which the use of excess money for the approved purpose must be subject.
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