Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.8
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OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE
Division 2
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Dealing with clients
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money
Subdivision A
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Money other than loans
SECTION 981F
981F
REGULATIONS MAY DEAL WITH HOW MONEY TO BE DEALT WITH IF LICENSEE CEASES TO BE LICENSED ETC.
The regulations may include provisions dealing with how money in an account maintained for the purposes of section 981B , or an investment of such money, is to be dealt with if: (a) the licensee ceases to be a financial services licensee; or (b) the licensee becomes insolvent, within the meaning of the regulations; or (c) the licensee merges with another financial services licensee; or (d) the licensee ceases to carry on some or all of the activities authorised by their licence.
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH Note: Division 2 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Subdivision A is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 981F is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
The regulations may include provisions dealing with how money in an account maintained for the purposes of section 981B , or an investment of such money, is to be dealt with if: (a) the licensee ceases to be a financial services licensee; or (b) the licensee becomes insolvent, within the meaning of the regulations; or (c) the licensee merges with another financial services licensee; or (d) the licensee ceases to carry on some or all of the activities authorised by their licence.
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