Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 4 - NGF Compensation regime  

Subdivision E - Other provisions relating to compensation under this Division  

SECTION 891B   MARKETS OPERATED BY BODIES CORPORATE THAT BECOME MEMBERS OF THE SEGC - REGULATIONS MAY DEAL WITH TRANSITIONAL PROVISIONS AND OTHER MATTERS  

891B(1)   [ ``joining market'']  

In this section:

joining market
means a financial market that:


(a) is operated by a body corporate that becomes a member of the SEGC after the commencement of this Division, or by a subsidiary of such a body corporate; and


(b) is a financial market to which this Division applies.

891B(2)   [ Transitional or saving regulations]  

The regulations may make provisions of a transitional or saving nature dealing with the transition, in relation to a joining market, from the compensation regime previously applicable in relation to the market to the arrangements constituted by this Division.

891B(3)   [ Payment or transfer of money]  

Without limiting subsection (2), the regulations may require money or other property (including money or other property in a fidelity fund) to be paid or transferred to the SEGC for inclusion in the NGF.

891B(4)   [ Part allocation of fund]  

The regulations may also provide for the allocation of part of the NGF as being for use for the purposes of claims arising in connection with the joining market.

891B(5)   [ Modification]  

The regulations may make modifications of provisions of this Division and Division 5 that are necessary or convenient to take account of allocations of a kind referred to in subsection (4).


 

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