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 4A
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Special provisions relating to margin lending facilities
Subdivision B
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Notice of margin calls under margin lending facilities
SECTION 985L
985L
ISSUE OF MARGIN LENDING FACILITY MUST NOT BE CONDITIONAL ON AGREEMENT TO RECEIVE COMMUNICATIONS THROUGH AGENT
A financial services licensee must not require, as a condition of issuing a margin lending facility to a retail client, that the retail client enter into an agreement of the kind referred to in subsection 985M(2) (which deals with agreements about communications in relation to margin lending facilities).
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 4A is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Subdivision B is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 985L is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
A financial services licensee must not require, as a condition of issuing a margin lending facility to a retail client, that the retail client enter into an agreement of the kind referred to in subsection 985M(2) (which deals with agreements about communications in relation to margin lending facilities).
Note: This section is a civil penalty provision (see section 1317E ).
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