CORPORATIONS ACT 2001 - SECT 766D Meaning of makes a market

CORPORATIONS ACT 2001 - SECT 766D

  (1)   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).

  (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.