Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

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

Division 5B - Disclosure etc. in relation to short sales covered by securities lending arrangement of listed section 1020B products  

Note: Section 1020B prohibits certain short sales of section 1020B products.

SECTION 1020AC   LICENSEE DISCLOSURE  

1020AC(1)   [ Application]  

Subsection (2) applies if:


(a) the seller mentioned in subparagraph 1020AB(1)(a)(i) gives a financial services licensee information in accordance with section 1020AB in relation to a sale of section 1020B products on a licensed market; and


(b) the following requirements are satisfied (if applicable):


(i) if regulations made for the purposes of this subparagraph specify a kind of section 1020B product - the section 1020B products are of that kind;

(ii) if regulations made for the purposes of this subparagraph specify a kind of section 1020B product - the section 1020B products are not of that kind;

(iii) if regulations made for the purposes of this subparagraph specify circumstances in which the sale is made - the sale is made in those circumstances.

1020AC(2)   Offence.  

The financial services licensee must:


(a) give the entity mentioned in subsection (3) particulars specified in the regulations in relation to the circumstances mentioned in paragraph (1)(a); and


(b) do so:


(i) on or before the time specified in the regulations; and

(ii) in the manner specified in the regulations.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

1020AC(3)   [ Identity of entity]  

The entity is:


(a) the operator of the licensed market mentioned in paragraph (1)(a); or


(b) if the regulations specify another entity - that entity.


 

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