Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 2 - Dealing with clients' money  

Subdivision AA - Client money reporting rules  

SECTION 981K   MATTERS THAT MAY BE DEALT WITH IN CLIENT MONEY REPORTING RULES  

981K(1)  
The client money reporting rules may impose any of the following kinds of requirements:


(a) requirements to report information (see also paragraph (2)(b));


(b) reconciliation requirements (see also paragraph (2)(c));


(c) requirements that are incidental or related to the requirements mentioned in paragraph (a) or (b).

981K(2)  
The client money reporting rules may also deal with matters incidental or related to requirements referred to in subsection (1), including any of the following:


(a) the classes of money in relation to which particular requirements apply;


(b) for requirements to report information:


(i) to whom information is required to be reported; and

(ii) the information that is required to be reported;


(c) for reconciliation requirements:


(i) the information that is required to be reconciled; and

(ii) how reconciliations are required to be reviewed or approved, including who is required to review or approve reconciliations; and

(iii) to whom reconciliations are required to be submitted;


(d) the financial services licensees who are required to comply with requirements imposed by the rules;


(e) the manner and form in which persons must comply with requirements imposed by the rules;


(f) the circumstances in which persons are, or may be, relieved from complying with requirements in the rules that would otherwise apply to them;


(g) the keeping of records, or the provision of records or other information, relating to accounts maintained for the purposes of section 981B ;


(h) the keeping of records, or the provision of records or other information, relating to compliance with (or determining whether there has been compliance with) the rules;


(i) any matters that the regulations provide, for the purposes of this paragraph, may be dealt with in the client money reporting rules;


(j) any other matters that the provisions of this Act provide may be dealt with in the client money rules.

981K(3)  
(Repealed by No 17 of 2019, s 3, Sch 1 [ 91] (effective 13 March 2019).)


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