Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.1 - PRELIMINARY  

Division 4 - When does a person provide a financial service?  

SECTION 766D   MEANING OF MAKES A MARKET FOR A FINANCIAL PRODUCT  

766D(1)  
For the purposes of this Chapter, a person makes a market for a financial product if:


(a) either through a facility, at a place or otherwise, the person regularly states the prices at which they propose to acquire or dispose of financial products on their own behalf; and


(b) other persons have a reasonable expectation that they will be able to regularly effect transactions at the stated prices; and


(c) the actions of the person do not, or would not if they happened through a facility or at a place, constitute operating a financial market because of the effect of paragraph 767A(2) (a).

766D(2)  
Paragraph (1)(a) does not apply to a person stating prices at which they propose to acquire or dispose of financial products if:


(a) the person is the issuer of the products; and


(b) the products are:


(i) superannuation products; or

(ii) managed investment products; or

(iii) financial products referred to in paragraph 764A(1)(ba) (which relates to certain managed investment schemes that are not registered schemes); or

(iv) foreign passport fund products.

 

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