Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 4 - NGF Compensation regime  

Subdivision 4.2 - Third party clearing arrangements  

REGULATION 7.5.19   CLEARING ARRANGEMENTS  

7.5.19(1)   [ Regulations applying to Subdiv 4.3]  

For Subdivision 4.3 , if:

(a) a participant of Australian Stock Exchange Limited (the transacting participant ) enters into a reportable transaction; and

(b) under Australian Stock Exchange Limited's operating rules or under ACH's operating rules, another participant (the clearing participant ) has the obligation to complete the transaction and all obligations ancillary to that completion;

regulations 7.5.24 to 7.5.27 (inclusive) apply in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.

7.5.19(2)   [ Regulation applying to Subdiv 4.9]  

For Subdivision 4.9 , if:

(a) a participant of Australian Stock Exchange Limited (the transacting member ) enters into a reportable transaction; and

(b) under Australian Stock Exchange Limited's operating rules or under ACH's operating rules, another participant (the clearing participant ) has the obligation to complete the transaction and all obligations ancillary to that completion;

regulation 7.5.66 applies in relation to the function of completing the transaction as if the clearing participant, and not the transacting participant, had entered into the transaction.

7.5.19(3)   [ Regulations applying to Subdiv 4.3]  

For Subdivision 4.3 , if:

(a) a participant of the licensed CS facility operated by ACH (the transacting participant ) enters into a reportable transaction; and

(b) under the operating rules of ACH, another participant (the clearing participant ) has the obligation to complete the transaction and all obligations ancillary to that completion;

regulations 7.5.24 to 7.5.27 (inclusive) apply in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.

7.5.19(3A)   [ Regulations applying to Subdiv 4.3]  

For Subdivision 4.3 , if:

(a) a participant of Australian Stock Exchange Limited (the transacting participant ) enters into a reportable transaction; and

(b) under the operating rules of Australian Stock Exchange Limited or ACH, a participant of the licensed CS facility operated by ACH (the clearing participant ) has the obligation to complete the transaction and all obligations ancillary to that completion;

regulations 7.5.24 to 7.5.27 (inclusive) apply in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.

7.5.19(4)   [ Regulation applying to Subdiv 4.9]  

For Subdivision 4.9 , if:

(a) a participant of the licensed CS facility operated by ACH (the transacting member ) enters into a reportable transaction; and

(b) under the operating rules of ACH, another participant (the clearing participant ) has the obligation to complete the transaction and all obligations ancillary to that completion;

regulation 7.5.66 applies in relation to the function of completing the transaction as if the clearing participant, and not the transacting participant, had entered into the transaction.

7.5.19(5)   [ Regulation applying to Subdiv 4.9]  

For Subdivision 4.9 , if:

(a) a participant of Australian Stock Exchange Limited (the transacting participant ) enters into a reportable transaction; and

(b) under the operating rules of Australian Stock Exchange Limited or ACH, a participant of the licensed CS facility operated by ACH (the clearing participant ) has the obligation to complete the transaction and all obligations ancillary to that completion;

regulation 7.5.66 applies in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.