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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS    View history reference

Division 2 - When there must be a compensation regime    View history reference

SECTION 881B  ADDITIONAL REQUIREMENTS FOR THE LICENCE APPLICATION  

 View history reference

881B(1)  [Market licence application]  


A person who is applying for an Australian market licence must state in their application:


(a) whether any of the participants in the market, in effecting transactions through the market, will provide financial services for persons as retail clients; and


(b) if any participants will so provide financial services to persons as retail clients - whether, in connection with the provision of those financial services, those persons will or may give money or other property, or authority over property, to those participants.

881B(2)  [Proposed compensation arrangements]  


If:


(a) participants in the market will provide financial services to persons as retail clients as mentioned in paragraph (1)(a); and


(b) in connection with the provision of those financial services, those persons will or may give money or property, or authority over property, to those participants;

the application must:


(c) contain the information, in relation to the proposed compensation arrangements, required by regulations made for the purposes of this paragraph and be accompanied by a copy of the proposed compensation rules; or


(d) state that the market is or will be covered by Division 4, and set out evidence, in accordance with the requirements (if any) of the regulations, in support of that statement.


 



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