Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The regulations may:
(a) exempt a person or class of persons from all or specified provisions of this Chapter; or
(b) exempt a security or class of securities from all or specified provisions of this Chapter; or
(c) provide that this Chapter applies as if specified provisions were omitted, modified or varied as specified in the regulations.
(2) Without limiting subsection (1), regulations made for the purposes of this section may:
(a) declare that provisions of this Chapter are modified so that they apply (with or without further modifications) in relation to persons, securities, financial products or situations to which they would not otherwise apply; or
(b) declare that provisions of this Chapter are modified so that they apply (whether with or without further modifications) in a way that changes the person by whom or to whom a document or information is required to be given by a provision of this Chapter.
(3) For the purpose of this section, the provisions of this Chapter include:
(a) definitions in this Act, or in the regulations, as they apply to references in this Chapter; and
(b) any provisions of Part 10.2 (transitional provisions) that relate to provisions of this Chapter.
No. 50, 2001
Compilation No. 137
Compilation date: 14 October 2024
Includes amendments: Act No. 38, 2024
This compilation is in 7 volumes
Volume 1: sections 1-260E
Volume 2: sections 283AA-600K
Volume 3: sections 601-742
Volume 4: sections 760A-994Q
Volume 5: sections 1010A-1243A
Volume 6: sections 1272-1708D
Volume 7: Schedules
Endnotes
Each volume has its own contents
About this compilation
This compilation
This is a compilation of the Corporations Act 2001 that shows the text of the law as amended and in force on 14 October 2024 (the compilation date ).
The notes at the end of this compilation (the endnotes ) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self - repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Chapter 7--Financial services and markets
Part 7.1--Preliminary
Division 1--Object of Chapter and outline of Chapter
760A Object of Chapter
760B Outline of Chapter
Division 2--Meaning of some terms relating to financial services and markets
761A Meaning of some terms relating to financial services and markets
761B Meaning of arrangement
761CAA Meaning of claimant intermediary
761CA Meaning of class and kind of financial products and financial services
761D Meaning of derivative
761DA Meaning of insurance claims manager
761E Meaning of acquire , issue and provide
761EA Meaning of margin lending facility , margin call and associated expressions
761F Meaning of person --generally includes a partnership
761FA Meaning of person --generally includes multiple trustees
761G Meaning of retail client and wholesale client
761GA Meaning of retail client --sophisticated investors
761H References to this Chapter include references to regulations or other instruments made for the purposes of this Chapter
Division 3--Meaning of financial product and related terms
Subdivision A--Preliminary
762A Overview of approach to defining what a financial product is
762B What if a financial product is part of a broader facility?
762C Meaning of facility
Subdivision B--The general definition
763A Meaning of financial product
763B Meaning of makes a financial investment
763C Meaning of manages financial risk
763D Meaning of makes non - cash payments
763E What if a financial product is only incidental?
Subdivision C--Specific inclusions
764A Specific things that are financial products (subject to Subdivision D)
Subdivision D--Specific exclusions
765A Specific things that are not financial products
Division 4--Meaning of financial service and related terms
766A Meaning of financial service
766B Meaning of financial product advice , personal advice and general advice
766C Meaning of dealing
766D Meaning of makes a market
766E Meaning of custodial or depository service
766F Meaning of crowd - funding service
766G Meaning of claims handling and settling service
766H Meaning of superannuation trustee service
Division 5--Meaning of financial market
767A Meaning of financial market
Division 6--Meaning of clearing and settlement facility
768A Meaning of clearing and settlement facility
Division 7--General provisions relating to civil and criminal liability
769A Part 2.5 of Criminal Code does not apply
769B People are generally responsible for the conduct of their agents, employees etc.
769C Representations about future matters taken to be misleading if made without reasonable grounds
Part 7.2--Licensing of financial markets
Division 1--Preliminary
790A Meaning of clearing and settlement arrangements
Division 2--Requirement to be licensed
791A Need for a licence
791B Other prohibitions on holding out
791C Exemptions by ASIC
791D When a financial market is operated in this jurisdiction
791E Criteria for declarations that financial markets have a material connection with this jurisdiction
791F Ministerial consent to ASIC determination required
791G Revoking declarations that financial markets have a material connection with this jurisdiction
Division 3--Regulation of market licensees
Subdivision A--Licensee's obligations
792A General obligations
792B Obligation to notify ASIC of certain matters
792C Giving ASIC information about a listed disclosing entity
792D Obligation to assist ASIC
792E Obligation to give ASIC access to market facilities
792F Annual report
792G Obligations to notify people about clearing and settlement arrangements in certain circumstances
792H Change of country by foreign licensee
792I Making information about compensation arrangements publicly available
Subdivision B--The market's operating rules and procedures
793A Content of the operating rules and procedures
793B Legal effect of operating rules
793C Enforcement of operating rules
793D Changing the operating rules
793E Disallowance of changes to operating rules
Subdivision C--Powers of ASIC
794A ASIC's directions power--promoting compliance
794AA ASIC's directions power--crisis resolution
794AB Matters relating to ASIC directions--crisis resolution
794B ASIC's power to require special report
794BA ASIC's power to require expert report
794C ASIC assessment of licensee's compliance
794D ASIC's directions power--protecting dealings in financial products
794DA Matters relating to ASIC directions--protecting dealings in financial products
794E Additional directions to clearing and settlement facilities
Division 4--The Australian market licence
Subdivision A--How to get a licence
795A How to apply for a licence
795B When a licence may be granted
795C Publication of notice of licence grant
795D More than one licence in the same document
795E More than one market covered by the same licence
Subdivision B--The conditions on the licence
796A The conditions on the licence
Subdivision C--When a licence can be varied, suspended or cancelled
797A Varying licences
797B Immediate suspension or cancellation
797C Suspension or cancellation following hearing and report
797D Effect of suspension
797E Variation or revocation of suspension
797F Publication of notice of licence suspension or cancellation
797G Suspension and cancellation only in accordance with this Subdivision
798A Matters to be taken into account by ASIC
798B ASIC may give advice to Minister
798C Market licensee or related body corporate etc. listing on market
798D Exemptions and modifications for self - listing licensees or related bodies corporate etc.
798DA Market licensee, related body corporate etc. or competitor participating in market
798E Other potential conflict situations
Part 7.2A--Supervision of financial markets
798F ASIC to supervise financial markets
798H Complying with market integrity rules
798J ASIC's directions power--protecting people dealing in financial products
798JA Matters relating to ASIC directions--protecting people dealing in financial products
798JB ASIC's directions power--crisis resolution
798JC Matters relating to ASIC directions--crisis resolution
798K Alternatives to civil proceedings
798L Exemptions and modifications by regulations
798M Exemptions by ASIC
Part 7.3--Licensing of clearing and settlement facilities
Division 1--Requirement to be licensed
820A Need for a licence
820B Other prohibitions on holding out
820C Exemptions by ASIC
820CA Exemptions by Reserve Bank
820D When a clearing and settlement facility is operated in this jurisdiction
820E Criteria for declarations that clearing and settlement facilities have a material connection with this jurisdiction
820F Relevant determinations
820G Ministerial consent to Reserve Bank or ASIC determination required
820H Revoking declarations that clearing and settlement facilities have a material connection with this jurisdiction
Division 2--Regulation of CS facility licensees
Subdivision A--Licensee's obligations
821A General obligations
821B Obligation to notify ASIC of certain matters
821BA Obligation to notify Reserve Bank of certain matters
821C Obligation to assist
821D Obligation to give access to the facility
821E Annual report
821F Change of country by foreign licensee
Subdivision AA--Obligations on licensees and certain related bodies and persons
821H Notification of recapitalisation or restructuring
821J Notice of any other material changes in circumstances
821K Notification of appointment of external administrator
821L Notification from liquidator and request for information about winding up
Subdivision B--The facility's operating rules and procedures
822A Content of the operating rules and procedures
822B Legal effect of operating rules
822C Enforcement of operating rules
822D Changing the operating rules
822E Disallowance of changes to operating rules
Subdivision C--Powers of ASIC and the Reserve Bank in relation to licensees
823A ASIC's power to give directions
823B ASIC's power to require special report
823BA Reserve Bank's power to require special report
823BB ASIC's power to require expert report
823BC Reserve Bank's power to require expert report
823C ASIC assessment of licensee's compliance
823CA Reserve Bank assessment of compliance
823D ASIC's directions power--protecting dealings in financial products and ensuring fair and effective provision of services by CS facilities
823DA Matters relating to ASIC directions--protecting dealings in financial products and ensuring fair and effective provision of services by CS facilities
Subdivision D--Reserve Bank's directions powers
823E Reserve Bank's directions power--directions to increase compliance or reduce systemic risk
823F Reserve Bank's directions power--directions to preserve stability in the Australian financial system
823G Reserve Bank's directions power--directions to enhance resolvability
823H Reserve Bank's directions power--directions to give information to assist the Reserve Bank perform its functions
823J Matters relating to all Reserve Bank directions--order for body corporate to comply with direction
823K Matters relating to all Reserve Bank directions--variation or revocation
Subdivision E--Matters relating to Reserve Bank recapitalisation directions
823L Recapitalisation directions--matters relating to compliance
823M Recapitalisation directions--Reserve Bank must obtain expert's report on the fair value of shares etc.
823N Recapitalisation directions--determination of the fair value of shares or rights by an expert
823P Recapitalisation directions--working out the fair value of other capital instruments
823Q Recapitalisation directions--contravening certain provisions does not affect the validity of the direction etc.
823R Recapitalisation directions--exceptions to Part IV of the Competition and Consumer Act 2010
Subdivision F--Other matters relating to Reserve Bank directions
823S Directions to preserve stability in the Australian financial system--relationship with other provisions
823T All Reserve Bank directions--publishing details about directions
823U All Reserve Bank directions--injunctions
Subdivision G--Other matters relating to ASIC or Reserve Bank powers
823V Exercise of Reserve Bank powers to give directions under section 823F not grounds for denial of obligations
823W All ASIC and Reserve Bank directions etc. under this Part--failure by officers to take reasonable steps to ensure compliance
823X All ASIC and Reserve Bank directions under this Part--protection from liability for compliance in good faith
Division 3--The Australian CS facility licence
Subdivision A--How to get a licence
824A How to apply for a licence
824B When a licence may be granted
824C Publication of notice of licence grant
824D More than one licence in the same document
824E More than one CS facility covered by the same licence
Subdivision B--The conditions on the licence
825A The conditions on the licence
Subdivision C--When a licence can be varied, suspended or cancelled
826A Varying licences
826B Immediate suspension or cancellation
826C Suspension or cancellation following hearing and report
826D Effect of suspension
826E Variation or revocation of suspension
826F Publication of notice of licence suspension or cancellation
826G Suspension and cancellation only in accordance with this Subdivision
Division 3A--CS facility rules
Subdivision A--Power to make CS facility rules
826H CS facility rules
Subdivision B--Compliance with CS facility rules
826J Complying with CS facility rules
826K Inconsistency with other instruments
826L Alternatives to civil proceedings
Subdivision C--The process of making CS facility rules
826M ASIC to consult before making rules
826N Ministerial consent to rules required
826P Emergency rules--consultation and consent not required
826Q Crisis resolution--consultation and consent not required
826R Variation and revocation of rules
Subdivision D--Limitations
826S Regulations may limit how rules may deal with certain matters
Subdivision E--Exemptions
826T Provisions covered by this Subdivision
826U Exemptions and modifications by regulations
827A Matters to be taken into account by ASIC
827B ASIC may give advice to Minister and Reserve Bank
827C Reserve Bank may give advice to Minister and ASIC
827D Reserve Bank may determine financial stability standards
827DA Reserve Bank may determine resolvability standards for CS facility licensees and certain related bodies corporate
827DB Resolution planning
827E Certain powers--consultation between ASIC and the Reserve Bank
Part 7.3A--CS services
Division 1--Preliminary
828 Meaning of CS service
Division 2--Regulation of CS services: CS services rules
Subdivision A--Power to make CS services rules
828A CS services rules
828B CS services in relation to which rules may impose requirements
Subdivision B--Compliance with CS services rules
828C Obligation to comply with CS services rules
828D Obligation to notify ASIC in respect of breach
828E Alternatives to civil proceedings
828F Failure to comply with CS services rules does not invalidate transaction etc.
Subdivision C--Power of ASIC to give directions etc.
828G ASIC's power to give directions to person not complying with obligations
Subdivision D--The process of making CS services rules
828H Matters to which ASIC must have regard when making rules
828J ASIC to consult before making rules
828K Ministerial consent to rules required
828L Emergency rules: consultation and consent not required
828M Amendment and revocation of CS services rules
Division 3--Other provisions
828N ASIC may give advice to Minister
828P ACCC may give advice to Minister
828Q Reserve Bank may give advice to Minister
828R Exemptions by the regulations or by ASIC
Part 7.3B--Crisis resolution for CS facility licensees
Division 1--Preliminary
830A Simplified outline of this Part
830B Object of this Part
Division 2--Crisis resolution for CS facility licensees
831A Reserve Bank may exercise crisis resolution powers if certain conditions are satisfied
Division 3--Statutory management
Subdivision A--Statutory management of body corporate in relation to CS facility licensee in crisis
832A Statutory manager takes control of body corporate
832B Termination of appointment of statutory manager
832C When a statutory manager is in control
Subdivision B--Powers of statutory manager
833A Role of the statutory manager
833B Powers to remove director etc.
833C Power to alter body corporate's constitution etc.
833D Powers to facilitate recapitalisation
833E Statutory manager may request information etc. to be given
833F Statutory manager acts as body corporate's agent
Subdivision C--Effect of statutory manager assuming control
834A Exercise of directors' powers while body corporate under statutory management
834B Effect of things done during statutory management of body corporate
834C Effect of statutory management on body corporate's members
Subdivision D--Additional duties of statutory manager
835A Reporting to Reserve Bank
835B Reserve Bank's directions power--directions to statutory manager
835C Consent to take action that may affect financial system stability in Australia
Subdivision E--Other matters
836A Effect on external administration
836B Appointment of 2 or more statutory managers of body corporate
836C Costs of statutory management
836D Annual general meeting need not be held
836E Dealing with property subject to circulating security interests
836F When statutory manager may dispose of encumbered property
836G Proceeds of sale of property
836H Supply of essential services
836J Statutory manager has qualified privilege
836K Protection of persons dealing with statutory manager
Division 4--Compulsory transfer of business or shares
Subdivision A--Compulsory transfer of business or shares of body corporate in relation to CS facility licensee in crisis
837A Compulsory transfer of shares in body corporate
837B Compulsory transfer of business of body corporate
837C When consent of receiving body is in force
837D Agreement about how transfer is to be effected
837E Determination may impose conditions
837F Determination that transfer is not to take effect
Subdivision B--Transfer process
838B Time and effect of transfer of shares
838C Time and effect of transfer of business
Subdivision C--Other matters
839A Partial transfer of netting contracts void
839B Reserve Bank may provide information to receiving body
839C Certificates in relation to land and interests in land
839D Certificates in relation to other assets
839E Documents purporting to be certificates
839F Construction of references in instruments to target body
839G Income or other distribution received by target body
839H Access to books
839J Relationship of Division with other laws etc.
839K Reserve Bank's rules may make special provision in relation to compulsory transfer
Division 5--Directions
Subdivision A--Directions to manage or respond to crisis
840A Reserve Bank's directions power--manage or respond to crisis
840B Matters relating to Reserve Bank directions--manage or respond to crisis
840C Directions to manage or respond to crisis--relationship with other provisions
Subdivision B--Directions to give information to assist crisis management
841A Reserve Bank's directions power--information to assist crisis management
841B Matters relating to Reserve Bank directions--information to assist crisis management
Division 6--Moratorium on action during statutory management or compulsory transfer
Subdivision A--Circumstances to which moratorium is relevant
842A Circumstances to which moratorium is relevant
Subdivision B--Stay on enforcement rights triggered by statutory management or compulsory transfer
843A Stay on enforcing rights merely because the body corporate is under statutory management or subject to a transfer determination
843B Exceptions
843C Stay on body corporate's right to new advance of money or credit
843D Self - executing provisions
843E When other laws prevail--certain other Commonwealth Acts
843F Circumstances where a transaction by statutory manager not voidable under section 588FE
Subdivision C--Protection of body corporate's property
844A Winding up body corporate
844B Restrictions on exercise of third party property rights
844C Stay of proceedings
844D Reserve Bank and statutory manager not liable in damages for refusing consent
844E Suspension of enforcement process
844F Duties of court officer in relation to property of a body corporate
Subdivision D--General power to make orders
845A General power to make orders
Division 7--Funding for crisis resolution
846A Authorising arrangements for the purposes of crisis resolution
846B Appropriation of Consolidated Revenue Fund
Division 8--Cross - border crisis resolution
847A Reserve Bank may recognise crisis resolution of foreign operator of a clearing and settlement facility
Subdivision A--Secrecy determinations
848A Determinations that information is covered by secrecy provision
848B Variation or revocation of determinations
848C Prohibition on disclosing information covered by secrecy provision
848D Disclosure of publicly available information
848E Disclosure allowed by the Reserve Bank
848F Disclosure for the purpose of seeking review or legal advice
848G Disclosure under the Reserve Bank Act
848H Disclosure under the ASIC Act
848J Disclosure in circumstances determined by the Minister
848K Disclosure for same purpose
848L Exceptions operate independently
Subdivision B--Other powers of Reserve Bank
849AA Reserve Bank may apply for body corporate to be wound up
849AB Reserve Bank may request ASIC to make rules or give directions
Subdivision C--Temporary suspension of termination rights
849BA Application of this Subdivision
849BB Stay on exercising termination rights
849BC Self - executing provisions
849BD When other laws prevail--certain other Commonwealth Acts
849BE Circumstances where a transaction by statutory manager not voidable under section 588FE
849BF General power to make orders
Subdivision D--Other matters
849CA Reserve Bank may object to exercise of certain powers by ASIC during crisis resolution
849CB Expert report for acquisition or disposal of assets
849CC Exercise of Reserve Bank powers under this Part not grounds for denial of obligations
849CD Protection from liability for acts or omissions in good faith
849CE Compensation for acquisition of property
Part 7.4--Limits on involvement with licensees
Division 1--Limit on control of certain licensees
Subdivision A--20% voting power limit
850A Scope of Division
850B Meaning of unacceptable control situation
850C Acquisitions of shares
850D Orders to remedy unacceptable control situation
850E Injunctions
Subdivision B--Approval to exceed 20% voting power limit
851A Application for approval to exceed 20% voting power limit
851B Approval of application
851C Duration of approval
851D Conditions of approval
851E Varying percentage approved
851F Revoking an approval
851G Further information about applications
851H Time limit for Minister's decision
851I Preservation of voting power
Subdivision C--Other matters
852B Anti - avoidance
Division 1A--Limit on control of certain Australian licensees that are not widely held market bodies
Subdivision A--Scope and interpretation
852DA Scope of Division
852DB Meaning of unacceptable control situation
852DC Meaning of passes the legitimate control test
Subdivision B--20% voting power limit
852DD Acquisition of shares
852DE Remedial orders
852DF Injunctions
Subdivision C--Approvals to exceed 20% voting power limit
852DG Application for approval to exceed 20% voting power limit
852DH Decision on the application
852DJ Duration of approval
852DK Extension of approval
852DL Conditions of approval
852DM Varying an approval
852DN Revoking an approval
852DP Further information about applications
852DQ Applicant must update ASIC with correct information
852DR Time limit for ASIC's decision
Subdivision D--Other matters
852DS Acquisition of property
852DT Anti - avoidance
Division 2--Individuals who are not fit and proper are disqualified
853A Meaning of disqualified individual
853B Meaning of involved --in some licensees or applicants for a licence
853C Declaration by ASIC
853D Procedure for declaration
853E Revoking a declaration
853F Obligations on disqualified individuals
853G Notification by ASIC
Division 3--Miscellaneous
854A Record - keeping and giving of information
854B Exemptions and modifications by regulations
Part 7.5--Compensation regimes for financial markets
Division 1--Preliminary
880A Part does not apply to markets licensed under special provisions about overseas markets
880B Meaning of some terms relating to compensation regimes for financial markets
Division 2--When there must be a compensation regime
881A Licensed markets through which participants provide services for retail clients must generally have a compensation regime
881B Additional requirements for the licence application
881C What happens if an application contains information in accordance with paragraph 881B(2)(c)
881D What happens if an application contains a statement in accordance with paragraph 881B(2)(d)
Division 3--Approved compensation arrangements
Subdivision A--Approval of compensation arrangements
882A How to get compensation arrangements approved with grant of licence
882B How to get compensation arrangements approved after licence is granted
882C Revocation of approval
882D ASIC's power to give directions
Subdivision B--Effect of compensation rules forming part of Division 3 arrangements
883A Legal effect of compensation rules
883B Enforcement of compensation rules
883C Other sources of funds for compensation
883D Payment of levies
Subdivision C--Changing Division 3 arrangements
884A Division 3 arrangements must generally only be changed in accordance with this Subdivision
884B Changing Division 3 arrangements--matters required to be dealt with in the compensation rules
884C Changing Division 3 arrangements--matters not required to be dealt with in the compensation rules
Subdivision D--Are compensation arrangements adequate?
885A Purpose of this Subdivision
885B Requirements to be complied with for arrangements to be adequate
885C The losses to be covered
885D Certain losses that are not Division 3 losses
885E The amount of compensation
885F Method of payment of compensation
885G Making and determination of claims
885H The source of funds--general
885I Administration and monitoring
885J The losses to be covered--other matters to be taken into account
Subdivision E--Other provisions about Division 3 arrangements
886A Only one claim in respect of the same loss
886B Regulations relating to fidelity funds
Division 4--NGF Compensation regime
Subdivision A--Application of Division
887A Markets to which this Division applies
Subdivision B--Claims for and payment of compensation
888A The situations in which compensation may be claimed
888B Kinds of compensation available
888C Amount of compensation payable
888D Payment of compensation
888E Making and determination of claims
888F The SEGC has power to determine claims
888G Allowing a claim does not constitute an admission of any other liability
888H Claimant may apply to Court if claim disallowed
888I Non - NGF property of the SEGC not available to meet claims
888J The SEGC may enter into contracts of insurance or indemnity
888K NGF may be used to acquire financial products to be transferred as compensation
Subdivision C--The NGF
889A Continuation of the National Guarantee Fund
889B Compensation to be provided out of the NGF
889C The SEGC to keep the NGF
889D What the NGF consists of
889E Power to borrow etc. for purposes of the NGF
889F Money borrowed and paid to the SEGC
889G Money borrowed and not paid to the SEGC
889H Payments out of the NGF
889I Minimum amount of the NGF
889J Levy by the SEGC
Subdivision D--The SEGC
890A Minister to nominate the SEGC
890B The SEGC's functions and powers
890C Delegation
890D Operating rules of the SEGC
890E Legal effect of the SEGC's operating rules
890F Enforcement of the SEGC's operating rules
890G Changing the SEGC's operating rules
890H Disallowance of changes to the SEGC's operating rules
Subdivision E--Other provisions relating to compensation under this Division
891A Payment out of the NGF to prescribed body with arrangements covering clearing and settlement facility support
891B Markets operated by bodies corporate that become members of the SEGC--regulations may deal with transitional provisions and other matters
891C Regulations may make different provision in respect of different markets etc.
Division 5--Provisions common to both kinds of compensation arrangements
892A Meaning of Part 7.5 authority and Part 7.5 regulated fund
892B How Part 7.5 regulated funds are to be kept
892C Money in a Part 7.5 regulated fund may be invested
892D Powers of Part 7.5 authority to require production or delivery of documents or statements
892E Power to require assistance for purpose of dealing with a claim
892F Part 7.5 authority's right of subrogation if compensation is paid
892G Excess money in Part 7.5 regulated funds
892H Accounting and reporting
892I Division 3 arrangements--reporting in situations where compensation does not come out of a Part 7.5 regulated fund
892J Regulations may provide for qualified privilege in respect of certain matters
892K Risk assessment report
Division 6--Miscellaneous
893A Exemptions and modifications by regulations
893B Exemptions by ASIC
Part 7.5A--Regulation of derivative transactions and derivative trade repositories
Division 1--Application of Part
900A Derivatives and transactions etc. to which this Part applies
Division 2--Regulation of derivative transactions: derivative transaction rules
Subdivision A--Power to make derivative transaction rules
901A ASIC may make derivative transaction rules
901B Derivatives in relation to which rules may impose requirements
901C Regulations may limit the transactions in relation to which rules may impose requirements
901D Regulations may limit the persons on whom requirements may be imposed
Subdivision B--Compliance with derivative transaction rules
901E Obligation to comply with derivative transaction rules
901F Alternatives to civil proceedings
901G Failure to comply with derivative transaction rules does not invalidate transaction etc.
Subdivision C--The process of making derivative transaction rules
901H Matters to which ASIC must have regard when making rules
901J ASIC to consult before making rules
901K Ministerial consent to rules required
901L Emergency rules: consultation and consent not required
901M Amendment and revocation of derivative transaction rules
Division 3--Regulation of licensed derivative trade repositories: supervision by ASIC
902A ASIC to supervise licensed derivative trade repositories
Division 4--Regulation of licensed derivative trade repositories: derivative trade repository rules
Subdivision A--Power to make derivative trade repository rules
903A ASIC may make derivative trade repository rules
903B Rules may only impose requirements on operators and officers of licensed derivative trade repositories
903C Regulations may limit how rules may deal with matters related to derivative trade data
Subdivision B--Compliance with derivative trade repository rules
903D Obligation to comply with derivative trade repository rules
903E Alternatives to civil proceedings
Subdivision C--The process of making derivative trade repository rules
903F Matters to which ASIC has regard when making rules
903G ASIC to consult before making rules
903H Ministerial consent to rules required
903J Emergency rules: consultation and consent not required
903K Amendment and revocation of derivative trade repository rules
Division 5--Regulation of licensed derivative trade repositories: other obligations and powers
Subdivision A--Obligations
904A General obligations
904B Obligations relating to derivative trade data
904C Obligation to notify ASIC of certain matters
904D Obligation to assist ASIC, APRA and the Reserve Bank
904E Obligation to give ASIC access to derivative trade repository facilities
Subdivision B--Powers of Minister and ASIC to give directions etc.
904F Minister's power to give directions to licensee not complying with obligations
904G ASIC's directions power--licensees not complying with their obligations
904GA Matters relating to ASIC directions--licensees not complying with their obligations
904H ASIC's power to give directions requiring special reports
904J ASIC may assess licensee's compliance
904K Directions relating to derivative trade data if repository ceases to be licensed
Subdivision C--Power of ASIC to require expert report
904L ASIC's power to require expert report
Division 6--Regulation of licensed derivative trade repositories: licensing
Subdivision A--Requirement for some trade repositories to be licensed
905A Regulations may identify derivative trade repositories as being required to be licensed
Subdivision B--Granting of licences
905B How to apply for a licence
905C When a licence may be granted
905D Publication of notice of licence grant
905E More than one derivative trade repository covered by the same licence
Subdivision C--The conditions on a licence
905F The conditions on the licence
Subdivision D--When a licence can be varied, suspended or cancelled
905G Varying licences
905H Immediate suspension or cancellation
905J Suspension or cancellation following hearing and report
905K Effect of suspension
905L Variation or revocation of suspension
905M Publication of notice of licence suspension or cancellation
905N Suspension and cancellation only in accordance with this Subdivision
Subdivision E--Other matters
905P Matters to be taken into account by ASIC
Division 7--Regulation of prescribed derivative trade repositories
906A Regulations may impose obligations and confer powers
907A Other prohibitions on holding out
907B Making provision by reference to instruments as in force from time to time
907C Compliance with requirements to provide derivative trade data or other information: protection from liability
907D Exemptions by ASIC
907E Exemptions and modifications by regulations
Part 7.5B--Regulation of financial benchmarks
Division 1--Preliminary
908AA Simplified outline of this Part
908AB Meaning of financial benchmark
908AC Meaning of significant financial benchmark
908AD Emergency declarations: consultation and consent not required
908AE Notifying administrator about declarations
908AF ASIC to supervise financial benchmarks that are specified in benchmark administrator licences
908AG Extraterritorial application
Division 2--Licensing of financial benchmarks
Subdivision A--Requirement to be licensed
908BA Administrators of significant financial benchmarks must be licensed
908BB Other prohibitions on holding out
Subdivision B--Granting licences
908BC When a licence may be granted
908BD Applying for a licence
908BE More than one financial benchmark may be specified in the same licence
908BF Publishing details of licences
Subdivision C--Conditions on licences
908BG Conditions, including varying and revoking conditions
Subdivision D--When a licence can be varied, suspended or cancelled
908BH Varying licences
908BI Immediate suspension or cancellation
908BJ Suspension or cancellation following hearing and report
908BK Effect of suspension
908BL Varying or revoking a suspension
908BM Publishing details of suspensions or cancellations of licences
908BN Variations, suspensions or cancellations only in accordance with this Subdivision
Subdivision E--Matters to which ASIC must have regard
908BO Matters to which ASIC must have regard
Subdivision F--Other obligations of licensees
908BP General obligations
908BQ Obligation to notify ASIC of certain matters
908BR Obligation to assist ASIC, APRA and the Reserve Bank
908BS Obligation to give ASIC access to licensee's facilities
Subdivision G--Directions to licensees
908BT ASIC's power to give directions to licensee not complying with obligations
908BU Minister may disallow all or part of an ASIC direction etc.
908BV ASIC's power to give directions requiring reports
Subdivision H--Other matters
908BW ASIC may assess licensee's compliance
908BWA ASIC's power to require expert report
908BX Basis of licences
Division 3--Financial benchmark rules and compelled financial benchmark rules
Subdivision A--Power to make financial benchmark rules
908CA ASIC may make financial benchmark rules
908CB Main permitted matters that may be dealt with in the rules
908CC Other permitted matters that may be dealt with in the rules
Subdivision B--Power to make compelled financial benchmark rules
908CD ASIC may make compelled financial benchmark rules
908CE Permitted powers and matters that may be dealt with in the rules
Subdivision C--Compliance with each set of rules etc.
908CF Obligation to comply with each set of rules
908CG Alternatives to civil proceedings
908CH Infringement notices
908CI Enforceable undertakings
908CJ Protection from liability for compliance in good faith
Subdivision D--Matters relating to the making of each set of rules
908CK Matters to which ASIC has regard when making rules
908CL ASIC to consult before making rules
908CM Ministerial consent to rules required
908CN Emergency rules: consultation and consent not required
908CO Requirements
908CP Regulations may limit how rules may deal with certain matters
908CQ Varying or revoking the rules
Division 4--Offences and civil penalties relating to manipulation of financial benchmarks
908DA Manipulation of financial benchmarks
908DB False or misleading statements or information that could affect financial benchmarks
908DC Penalties for offences against this Division
908DD Geographical scope of offences and civil penalty provisions
Division 5--Other provisions
908EA Making provision by referring to instruments as in force from time to time
908EB Exemptions by the regulations or by ASIC
Part 7.6--Licensing of providers of financial services
Division 1--Preliminary
910A Meaning of some terms relating to licensing of providers of financial services
910B Meaning of control
910C Meaning of linked to a refusal or failure to give effect to a determination made by AFCA
910D Insurance fulfilment providers taken to be acting on behalf of financial services licensees
Division 2--Requirement to be licensed or authorised
911A Need for an Australian financial services licence
911B Providing financial services on behalf of a person who carries on a financial services business
911C Prohibition on holding out
911D When a financial services business is taken to be carried on in this jurisdiction
Division 3--Obligations of financial services licensees
Subdivision A--General obligations
912A General obligations
912B Arrangements for compensation if financial services provided to persons as retail clients
Subdivision B--Providing information and assistance to ASIC
912C Direction to provide a statement
912CA Regulations may require information to be provided
912D Meaning of reportable situation
912DAA Obligation to lodge a report--reportable situations in relation to the financial services licensee
912DAB Obligation to lodge a report--reportable situations in relation to other financial services licensees
912DAC Obligation to give notice--participants in licensed market or licensed CS facility
912DAD ASIC must publish details of certain reports
912DA Obligation to notify ASIC of change in control
912DB Obligation to notify ASIC if licensee does not provide financial service
912E Surveillance checks by ASIC
Subdivision C--Notifying and remediating clients affected by reportable situations
912EA Reporting to clients affected by a reportable situation
912EB Obligation to investigate reportable situations that may affect clients
912EC Obligation to keep records of compliance
Subdivision D--Miscellaneous
912F Obligation to cite licence number in documents
Division 4--Australian financial services licences
Subdivision A--How to get a licence
913A Applying for a licence
913B When a licence may be granted
913BA Fit and proper person test
913BB Fit and proper person test--matters to which ASIC must have regard
913C Licence numbers
Subdivision B--The conditions on the licence
914A The conditions on the licence
914B ASIC may request information etc. in relation to an application for conditions to be varied
Subdivision C--When a licence can be varied, suspended or cancelled
915A Varying licences
915B Immediate suspension or cancellation
915C Suspension or cancellation after offering a hearing
915D Effect of suspension
915E Revocation of suspension
915F Date of effect and publication of cancellation or suspension
915G Statement of reasons
915H ASIC may allow licence to continue in effect
915I Special procedures for APRA - regulated bodies
915J Variation, suspension and cancellation only under this Subdivision
Division 5--Authorised representatives
916A How representatives are authorised
916B Sub - authorisations
916C Authorised representative of 2 or more licensees
916D Licensees cannot authorise other licensees
916E Licensees acting under a binder
916F Obligation to notify ASIC etc. about authorised representatives
916G ASIC may give licensee information about representatives
Division 6--Liability of financial services licensees for representatives
917A Application of Division
917B Responsibility if representative of only one licensee
917C Representatives of multiple licensees
917D Exception if lack of authority is disclosed to client
917E Responsibility extends to loss or damage suffered by client
917F Effect of Division
Division 8--Banning or disqualification of persons from providing financial services
Subdivision A--Banning orders
920A ASIC's power to make a banning order
920B What a banning order prohibits
920C Effect of banning orders
920D Variation or cancellation of banning orders
920E Date of effect and publication of banning order, variation or cancellation
920F Statement of reasons
Subdivision B--Disqualification by the Court
921A Disqualification by the Court
Division 8A--Professional standards for relevant providers etc.
Subdivision A--Education and training standards
921B Meaning of education and training standards
921BA Relevant providers to meet education and training standards
921BB Additional requirements for relevant providers who provide tax (financial) advice services
921BC Exemptions for certain relevant providers
Subdivision AA--Limitations on authorisation to provide personal advice
921C Limitation on authorisation to provide personal advice unless conditions met
Subdivision B--Ethical standards
921E Code of Ethics
Subdivision C--Provisional relevant providers
921F Requirements relating to provisional relevant providers
Subdivision D--Other matters
921G Approval of foreign qualifications
921GA Approval of domestic qualifications
921H Modifications of Part in relation to continuing professional development
Division 8B--Action against relevant providers
Subdivision A--Action by Financial Services and Credit Panels
921K Power of Financial Services and Credit Panels to take action against relevant providers
921L Instruments that Financial Services and Credit Panels may make in relation to relevant providers
921M Copy of instrument to be given to affected person etc.
921N Variation or revocation of instruments made in relation to relevant providers
Subdivision B--Proposed action notices etc.
921Q Recommendations to ASIC in relation to restricted civil penalty provisions
921R Notices to Tax Practitioners Board about qualified tax relevant providers who are registered tax agents
Subdivision C--Warnings and reprimands
921S Warnings and reprimands by ASIC
921T Warnings and reprimands by Financial Services and Credit Panels
Subdivision D--Fit and proper person test
921U Fit and proper person test for relevant providers
Subdivision E--Review of decisions made under this Division etc.
921V Review of decisions etc.
Subdivision F--Electronic communication
921W Electronic communication of documents given by Financial Services and Credit Panels etc.
921X Electronic communication of documents given to Financial Services and Credit Panels etc.
Division 8C--Registration of relevant providers
Subdivision A--Requirement for relevant providers to be registered
921Y Unregistered relevant providers not to provide personal advice
921Z Financial services licensees not to continue to authorise unregistered relevant providers to provide personal advice
Subdivision B--Applications for registration
921ZA Application for registration--relevant providers who are financial services licensees applying to be registered
921ZB Application for registration--financial services licensees applying to register relevant providers
Subdivision C--Registration and period of registration
921ZC Registration of relevant providers
921ZD Period of registration--relevant providers who are financial services licensees
921ZE Period of registration--relevant providers who are registered in relation to financial services licensees
921ZF Assisted decision making
Division 9--Registers relating to financial services
Subdivision A--Registers generally
922A Registers relating to financial services
922B Fees for searching registers
Subdivision B--Notice requirements relating to the Register of Relevant Providers
922D Obligation to notify ASIC about a person who becomes a relevant provider
922E Information about a relevant provider who is a financial services licensee
922F Information about a relevant provider who is not a financial services licensee
922G Meaning of recent advising history
922H Ongoing obligation to notify ASIC when there is a change in a matter for a relevant provider
922HA Obligation to notify ASIC of financial services licensee's CPD year
922HB Obligation to notify ASIC of non - compliance with CPD provisions
922HC Requirement to retain information
922J Obligation to notify ASIC about a person who starts to have control of a body corporate licensee
922K Obligation to notify ASIC about a person who ceases to have control of a body corporate licensee
922L Requirement for notice to be lodged
922M Failing to comply with obligation to notify ASIC
922N Obligation for relevant providers to provide information to financial services licensees
922P Change in matter within 30 business days
Subdivision C--Register of Relevant Providers
922Q Register of Relevant Providers
922R Relevant provider number
922S Correcting the Register
Division 10--Restrictions on use of terminology
923A Restriction on use of certain words or expressions
923B Restriction on use of certain words or expressions unless authorised in licence conditions
923C Restriction on use of terms "financial adviser" and "financial planner"
Division 11--Agreements with unlicensed persons relating to the provision of financial services
Subdivision A--Agreements affected
924A Agreements with certain unlicensed persons
Subdivision B--Effect on agreements
925A Client may give notice of rescission
925B Effect of notice under section 925A
925C Client may apply to Court for partial rescission
925D Court may make consequential orders
925E Agreement unenforceable against client
925F Non - licensee not entitled to recover commission
925G Onus of establishing non - application of section 925E or 925F
925H Client may recover commission paid to non - licensee
925I Remedies under this Division additional to other remedies
Division 12--Miscellaneous
926A Exemptions and modifications by ASIC
926B Exemptions and modifications by regulations
Part 7.7--Financial services disclosure
Division 1--Preliminary
940A How Part applies if a financial services licensee is acting as authorised representative
940B What if there is no reasonable opportunity to give a document, information or statement required by this Part?
940C How documents, information and statements are to be given
940D General approach to offence provisions
Division 2--Person provided with financial service as retail client to be given a Financial Services Guide
Subdivision A--Requirement for a Financial Services Guide to be given
941A Obligation on financial services licensee to give a Financial Services Guide if financial service provided to person as a retail client
941B Obligation on authorised representative to give a Financial Services Guide if financial service provided to person as a retail client
941C Situations in which a Financial Services Guide is not required
941D Timing of giving Financial Services Guide
941E Information must be up to date
941F Obligation to give updated Financial Services Guide
Subdivision B--Content and authorisation of Financial Services Guide
942A Title of Financial Services Guide
942B Financial Services Guide given by financial services licensee--main requirements
942C Financial Services Guide given by authorised representative--main requirements
942D Financial Services Guide may consist of 2 or more separate documents given at same time
942DA Combining a Financial Services Guide and a Product Disclosure Statement in a single document
942E Altering a Financial Services Guide after its preparation and before giving it to a person
Subdivision C--Supplementary Financial Services Guides
943A What a Supplementary Financial Services Guide is
943B Title of Supplementary Financial Services Guide
943C Form of Supplementary Financial Services Guide
943D Effect of giving a person a Supplementary Financial Services Guide
943E Situation in which only a Supplementary Financial Services Guide need be given
943F Altering a Supplementary Financial Services Guide after its preparation and before giving it to a person
Division 2A--Website disclosure for financial product advice provided to a retail client
943G Obligation on financial services licensee to make website disclosure information available
943H Obligation on authorised representative to make website disclosure information available
943J Meaning of website disclosure information
943K Website disclosure information must be readily accessible
943L Website disclosure information must be kept up to date
943M Altering website disclosure information after it has been made available
943N Record of advice must be provided in certain circumstances
Division 3--Additional requirements for personal advice provided to a retail client
Subdivision A--When this Division applies
944A Situation in which Division applies
Subdivision C--Requirement for a Statement of Advice to be given
946A Obligation to give client a Statement of Advice
946AA Small investments--Statement of Advice not required
946B Other situations in which a Statement of Advice is not required
946C Timing of giving Statement of Advice
Subdivision D--Content of Statement of Advice
947A Title of Statement of Advice
947B Statement of Advice given by financial services licensee--main requirements
947C Statement of Advice given by authorised representative--main requirements
947D Additional requirements when advice recommends replacement of one product with another
947E Statement of Advice not to be combined with Financial Services Guide or Product Disclosure Statement
Subdivision E--Other matters
948A Qualified privilege if providing entity complies with this Division
Division 3A--Cash Settlement Fact Sheet
Subdivision A--When this Division applies
948B Situation in which this Division applies
Subdivision B--Requirement for a Cash Settlement Fact Sheet to be given
948C Obligation to give client a Cash Settlement Fact Sheet
948D Timing for giving a Cash Settlement Fact Sheet
Subdivision C--Contents of a Cash Settlement Fact Sheet
948E Title of Cash Settlement Fact Sheet
948F Content of Cash Settlement Fact Sheet
Division 4--Other disclosure requirements
949A General advice provided to retail client--obligation to warn client that advice does not take account of client's objectives, financial situation or needs
949B Regulations may impose disclosure requirements in certain situations
Division 6--Miscellaneous
951A Part cannot be contracted out of
951B Exemptions and modifications by ASIC
951C Exemptions and modifications by regulations
Division 7--Enforcement
Subdivision A--Offences
952A Overview
952B Meaning of defective and disclosure document or statement
952C Offence of failing to give a disclosure document or statement
952D Offence of giving a disclosure document or statement knowing it to be defective
952E Giving a defective disclosure document or statement (whether or not known to be defective)
952F Offences of financial services licensee knowingly providing defective disclosure material to an authorised representative
952G Offences of financial services licensee providing disclosure material to an authorised representative (whether or not known to be defective)
952H Financial services licensee failing to ensure authorised representative gives disclosure documents or statements as required
952I Offences if a Financial Services Guide, Supplementary FSG or website disclosure information does not comply with certain requirements
952J Offence if a Statement of Advice does not comply with certain requirements
952JA Offence if a Cash Settlement Fact Sheet does not comply with certain requirements
952K Offence if authorised representative gives out unauthorised Financial Services Guide, Supplementary FSG or website disclosure information
952L Offences if financial services licensee or authorised representative becomes aware that a Financial Services Guide, Supplementary FSG or website disclosure information is defective
952M Offence of unauthorised alteration of Financial Services Guide, Supplementary Financial Services Guide or website disclosure information
Subdivision B--Civil liability
953A Meaning of defective and disclosure document or statement
953B Civil action for loss or damage
953C Additional powers of court to make orders
Part 7.7A--Best interests obligations and remuneration
Division 1--Preliminary
960A No contracting out
960B Obligations under this Part in addition to other obligations
Division 2--Best interests obligations
Subdivision A--Preliminary
961 Application of this Division
961A Application to a financial services licensee acting as an authorised representative
Subdivision B--Provider must act in the best interests of the client
961B Provider must act in the best interests of the client
961C Meaning of reasonably apparent
961D Meaning of reasonable investigation
961E What would reasonably be regarded as in the best interests of the client?
961F Meaning of basic banking product
Subdivision C--Resulting advice must be appropriate to the client
961G Resulting advice must be appropriate to the client
Subdivision D--Where resulting advice still based on incomplete or inaccurate information
961H Resulting advice still based on incomplete or inaccurate information
Subdivision E--Provider to give priority to the client's interests
961J Conflict between client's interests and those of provider, licensee, authorised representative or associates
Subdivision F--Responsibilities of licensees under this Division
961K Civil penalty provision--sections 961B, 961G, 961H and 961J
961L Licensees must ensure compliance
961M Civil action for loss or damage
961N Additional powers of Court to make orders
961P Meaning of responsible licensee
Subdivision G--Responsibilities of authorised representatives under this Division
961Q Civil penalty provision--sections 961B, 961G, 961H and 961J
Division 3--Charging ongoing fees to clients
Subdivision A--Preliminary
962 Application of this Division
962A Meaning of ongoing fee arrangement
962B Meaning of ongoing fee
962C Meaning of fee recipient
Subdivision B--Client consent required for ongoing fee arrangements
962F Ongoing fee arrangement terminates without consent
962G Requirements for consent
962H When consent ceases to have effect
962J Client may terminate ongoing fee arrangement at any time
Subdivision C--Account holder consent required for deducting ongoing fees from accounts
962R Fee recipient must not deduct ongoing fees without consent
962S Fee recipient must not arrange for deduction of ongoing fees without consent or accept such deductions
962T Requirements for consent--deduction of fees from accounts
962U Variation or withdrawal of consent
962V When consent ceases to have effect
962W Conditions requiring consent to be given are void
962WA Ongoing fee arrangement terminates if fee deducted without consent
Subdivision D--Common rules for consents under this Division
962X Obligation to keep records of compliance
962Y Form for consents
962YA Combining information in a single notice or form
Subdivision E--Common rules for terminations under this Division
962Z Civil penalty provision--charging ongoing fees after arrangement terminated
962ZA Effect of termination
Division 4--Conflicted remuneration
Subdivision A--Preliminary
963 Application to a financial services licensee acting as an authorised representative
Subdivision B--Meaning of conflicted remuneration
963A Meaning of conflicted remuneration--general
963AA Benefits given in relation to life risk insurance products
963B Monetary benefit given in certain circumstances not conflicted remuneration
963BA Meaning of benefit ratio requirements and clawback requirements
963C Non - monetary benefit given in certain circumstances not conflicted remuneration
Subdivision C--Ban on conflicted remuneration
963E Licensee must not accept conflicted remuneration
963F Licensee must ensure compliance
963G Authorised representative must not accept conflicted remuneration
963H Other representatives must not accept conflicted remuneration
963J Employer must not give employees conflicted remuneration
963K Product issuer or seller must not give conflicted remuneration
963L Volume - based benefits presumed to be conflicted remuneration
Subdivision D--Rebate of conflicted remuneration
963M Person covered by this section in relation to conflicted remuneration
963N Regulations may provide for rebate of conflicted remuneration
963P Person covered by section 963M must pay amount etc. in accordance with regulations
Division 5--Other banned remuneration
Subdivision A--Volume - based shelf - space fees
964 Application
964A Platform operator must not accept volume - based shelf - space fees
Subdivision B--Asset - based fees on borrowed amounts
964B Application
964C Application to a financial services licensee acting as an authorised representative
964D Financial services licensees must not charge asset - based fees on borrowed amounts
964E Authorised representatives must not charge asset - based fees on borrowed amounts
964F Meaning of asset - based fee
964G Meaning of borrowed
964H Meaning of reasonably apparent
Division 6--Anti - avoidance
965 Anti - avoidance
Part 7.8--Other provisions relating to conduct etc. connected with financial products and financial services, other than financial product disclosure
Division 1--Preliminary
980A Matters covered by this Part
980B General approach to offence provisions
Division 2--Dealing with clients' money
Subdivision A--Money other than loans
981A Money to which Subdivision applies
981B Obligation to pay money into an account
981C Regulations may deal with various matters relating to accounts maintained for the purposes of section 981B
981D Money related to derivatives may be used for general margining etc. purposes
981E Protection of money from attachment etc.
981F Regulations may deal with how money to be dealt with if licensee ceases to be licensed etc.
981G Account provider not liable merely because of licensee's contravention
981H Money to which Subdivision applies taken to be held in trust
Subdivision AA--Client money reporting rules
981J Client money reporting rules
981K Matters that may be dealt with in client money reporting rules
981L ASIC to consult before making rules
981M Complying with client money reporting rules
981N Alternatives to civil proceedings
981P Compliance with requirements to provide data or other information to ASIC: protection from liability
Subdivision B--Loan money
982A Money to which this Subdivision applies
982B Obligation to pay money into an account
982C Licensee to give client statement setting out terms of loan etc.
982D Permitted use of loan
Subdivision C--Powers of Court
983A Court may freeze certain accounts
983B Interim order freezing accounts
983C Duty of person to whom order directed to make full disclosure
983D Further orders and directions
983E Power of Court to make order relating to payment of money
Division 3--Dealing with other property of clients
984A Property to which Division applies
984B How property to which this Division applies is to be dealt with
Division 4--Special provisions relating to insurance
985A Meaning of contract of insurance and insured
985B Status of amounts paid to financial services licensees in respect of contracts of insurance
985C Regulations may impose other requirements etc. if financial services licensee is not the insurer
985D Financial services licensees etc. not to deal in general insurance products from unauthorised insurers etc.
Division 4A--Special provisions relating to margin lending facilities
Subdivision A--Responsible lending conduct for margin lending facilities
985EA Application of this Subdivision
985E Requirements before issuing etc. margin lending facility
985F Assessment of unsuitability of margin lending facility
985G Reasonable inquiries etc. about the retail client
985H When margin lending facility must be assessed as unsuitable
985J Giving the retail client the assessment
985K Unsuitable margin lending facilities
Subdivision B--Notice of margin calls under margin lending facilities
985L Issue of margin lending facility must not be conditional on agreement to receive communications through agent
985M Notification of margin calls
Division 5--Obligations to report
986A Reporting in relation to money to which Subdivision A or B of Division 2 applies or property to which Division 3 applies
986B Reporting in relation to dealings in derivatives
Division 6--Financial records, statements and audit
Subdivision A--Preliminary
987A Application of Division
Subdivision B--Financial records of financial services licensees
988A Obligation to keep financial records
988B Records to be kept so that profit and loss statements and balance sheet can be prepared and audited
988C Language of records
988D Location of records
988E Particular categories of information to be shown in records
988F Regulations may impose additional requirements
988G Records taken to be made with licensee's authority
Subdivision C--Financial statements of financial services licensees
989B Financial services licensee to prepare and lodge annual profit and loss statement and balance sheet
989C Requirements as to contents and applicable accounting principles
989CA Audit to be conducted in accordance with auditing standards
989D Time of lodgment
Subdivision D--Appointment etc. of auditors
990A Sections 990B to 990H not to apply to public companies
990B Appointment of auditor by licensee
990C When a person or firm is ineligible to act as auditor
990D Ineligible person or firm must not consent to act or disqualify themselves etc.
990E Duration of appointment of auditors
990F Removal of auditors
990G Resignation of auditors--requirements for resignation
990H Resignation of auditors--when resignation takes effect
990I Auditor's right of access to records, information etc.
990J Auditor's fees and expenses
990K Auditor to report on certain matters
990L Qualified privilege for auditor etc.
Division 7--Other rules about conduct
991A Financial services licensee not to engage in unconscionable conduct
991B Financial services licensee to give priority to clients' orders
991C Regulations may deal with various matters relating to instructions to deal through licensed markets
991D Regulations may require records to be kept in relation to instructions to deal on licensed markets and foreign markets
991E Obligations of financial services licensee in relation to dealings with non - licensees
991F Dealings involving employees of financial services licensees
Division 8--Miscellaneous
992A Prohibition on hawking of financial products
992AA Right of return and refund for hawked financial products
992B Exemptions and modifications by ASIC
992C Exemptions and modifications by regulations
Division 9--Enforcement
993A Overview
993B Offence of failing to pay client money into an account as required
993C Offence of failing to comply with requirements relating to client money account
993D Failing to pay loan money into an account as required
Part 7.8A--Design and distribution requirements relating to financial products for retail clients
Division 1--Preliminary
994A Meaning of some terms relating to design and distribution requirements
994AA Meaning of financial product --Part 7.8A
Division 2--Target market determinations for financial products
994B Target market determinations for financial products
994C Target market determinations to be reviewed
994D Prohibition on engaging in retail product distribution conduct unless target market determination made
Division 3--Distribution of financial products
994E Reasonable steps to ensure consistency with target market determinations
994F Record keeping and notification obligations
994H Information to be provided to ASIC
994J Stop orders
Division 5--Exemptions and modifications
994L Exemptions and modifications by ASIC
Division 6--Miscellaneous
994M Civil liability
994N Additional powers of court to make orders
994P Orders to redress loss or damage suffered by non - party consumers etc.
994Q Kinds of orders that may be made to redress loss or damage suffered by non - party consumers etc.
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7.