Corporations Amendment Regulations 2003 (No. 8) (282 of 2003)

Schedule 1   Amendments commencing on gazettal

[3]   Regulation 7.1.34

substitute

7.1.34 Conduct that does not constitute dealing in a financial product

For subsection 766C (7) of the Act, the following conduct does not constitute dealing in a financial product:

(a) the enforcement of rights under a credit facility, including the enforcement of rights by a person acting under a power of attorney;

(b) the disposal of a financial product that is subject to a mortgage or the transfer of such a product to the mortgagor, whether the disposal or transfer is carried out at the direction of the mortgagor or occurs as a result of the mortgagor fulfilling its obligations under the mortgage.

Example for paragraph (a)

A mortgagee exercising a power of sale under a mortgage.