Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
Financial services licensees must comply with the client money reporting rules.
If there is an inconsistency between the client money reporting rules, and any of the following other rules:
(a) the market integrity rules;
(b) the derivative transaction rules;
(c) the derivative trade repository rules;
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
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' money
Subdivision AA
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Client money reporting rules
SECTION 981M
COMPLYING WITH CLIENT MONEY REPORTING RULES
981M(1)
Financial services licensees must comply with the client money reporting rules.
Note: This subsection is a civil penalty provision (see section 1317E ). For relief from liability to a civil penalty relating to this subsection, see section 1317S .
981M(2)If there is an inconsistency between the client money reporting rules, and any of the following other rules:
(a) the market integrity rules;
(b) the derivative transaction rules;
(c) the derivative trade repository rules;
those other rules prevail to the extent of the inconsistency.
Note: If there is an inconsistency between the client money reporting rules and the operating rules of a licensed market or of a licensed CS facility, the client money reporting rules prevail: see subsections 793B(2) and 822B(2) .
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