Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE AND SALE OF FINANCIAL PRODUCTS  

Division 6 - Confirmation of transactions  

REGULATION 7.9.63C   CONFIRMATION OF TRANSACTION - MULTIPLE TRANSACTIONS  

7.9.63C(1)   [ Application]  

For paragraph 1017F(9) (b) of the Act, subregulation (2) applies in relation to a transaction if:

(a) the responsible person is a participant of a licensed market; and

(b) the participant has complied with all of the participant ' s obligations in relation to the transaction under the market integrity rules and the operating rules of the licensed market; and

(c) the transaction forms part of a series of transactions made to complete an order placed with a financial services licensee; and

(d) the holder of the product has given to the financial services licensee, in relation to that order or all orders (or all orders included in a class in which that order is included) placed with the financial services licensee by the holder, prior authorisation to give to the client a single confirmation in respect of a series of transactions carried out under the order instead of an individual confirmation in respect of each transaction in the series.

7.9.63C(2)   [ Confirmation]  

Subsection 1017F(5) of the Act is taken to be satisfied if, in respect of the transaction:

(a) the financial services licensee gives to the holder a single confirmation in respect of the series of transactions in which the transaction is included that:

(i) is in accordance with the authorisation; and

(ii) subject to subregulation (4), complies with the Act; and

(b) the confirmation is given:

(i) as soon as practicable; or

(ii) otherwise as permitted by the market integrity rules or the operating rules of that licensed market.

7.9.63C(3)   [ Application]  

For paragraph 1017F(9) (c) of the Act, subregulation (4) applies in relation to a transaction if:

(a) the responsible person is a participant of a licensed market; and

(b) the participant has complied with all of the participant ' s obligations in relation to the transaction under the market integrity rules and the operating rules of the licensed market; and

(c) the transaction forms part of a series of transactions made to complete an order placed with a financial services licensee; and

(d) the holder of the product has given to the financial services licensee, in relation to that order or all orders (or all orders included in a class in which that order is included) placed with the financial services licensee by the holder, prior authorisation to give to the client a single confirmation in respect of the series of transactions that specifies the average price per unit of financial products acquired or disposed of in the series of transactions, instead of an individual confirmation in respect of each transaction in the series, that specifies the price per unit of the financial products acquired or disposed of in the transaction to which each confirmation relates.

7.9.63C(4)   [ Requirements]  

Subregulation 7.9.63B(7) is taken to be satisfied if, in respect of the transaction:

(a) the financial services licensee gives the confirmation to the holder in accordance with the authorisation; and

(b) unless otherwise provided by the market integrity rules or the operating rules of the licensed market, the financial services licensee, if requested to do so by the client, also gives to the holder a document that specifies the price per unit of the financial products sold or bought in each transaction in the series.

7.9.63C(5)   [ Authorisation]  

For this regulation, an authorisation given by a person to a financial services licensee:

(a) must be given orally, or in writing, by the person; and

(b) is effective until it is revoked, either orally or in writing, by the person.

7.9.63C(6)   [ Oral authorisation]  

If a person gives an oral authorisation to a financial services licensee, or revokes an authorisation orally, the financial services licensee must:

(a) make a written record of the authorisation or revocation; and

(b) send a copy of the written record to the person.

7.9.63C(7)   [ " order " ]  

In this regulation:

order
means an instruction, or a series of instructions, to acquire or dispose of financial products.