Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

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Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

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History

Ch 7 amended by No 8 of 2022, s 3, Sch 2[165] (effective 1 July 2022).

Ch 7 inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

As Act No 122 of 2001 repealed Ch 7 and 8 the history notes for Ch 7 use " inserted " and references to the former provisions have been removed.

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

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Division 2 - Dealing with clients ' money  

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CCH Note: Division 2 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

Subdivision AA - Client money reporting rules  

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CCH Note: Subdivision AA is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

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History

Subdiv AA inserted by No 25 of 2017, s 3, Sch 5[14] (effective 4 April 2018).

SECTION 981M   COMPLYING WITH CLIENT MONEY REPORTING RULES  

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CCH Note: Section 981M is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

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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History

S 981M inserted by No 25 of 2017, s 3, Sch 5[14] (effective 4 April 2018).

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