CORPORATIONS REGULATIONS 2001 - REG 6D.5.03 Modification of section 738X of the Act: requirement to notify right to withdraw application only applies if defect is materially adverse
CORPORATIONS REGULATIONS 2001 - REG 6D.5.03
Modification of section 738X of the Act: requirement to notify right to withdraw application only applies if defect is materially adverseFor the purposes of paragraph 742(1)(c) of the Act, Chapter 6D of the Act applies as if section 738X of the Act were modified so that subsection 738X(7) of the Act only applies if the defect in the CSF offer document referred to in paragraph 738X(5)(a) of the Act is materially adverse from the point of view of an investor.
Compilation date: 1 March 2024
Includes amendments: F2024L00199
Registered: 6 March 2024
This compilation is in 7 volumes
Volume 1: regulations 1.0.01- 6D.5.03
Volume 2: regulations 7.1.04- 7.6.08E
Volume 3: regulations 7.7.01- 8B.5.20
Volume 4: regulations 9.1.01- 12.9.03
Volume 5: Schedules 1, 2 and 2A
Volume 6: Schedules 3-13
Volume 7: Endnotes
Each volume has its own contents
About this compilation
This compilation
This is a compilation of the Corporations Regulations 2001 that shows the text of the law as amended and in force on 1 March 2024 (the compilation date ).
The notes at the end of this compilation (the endnotes ) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self - repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Chapter 7--Financial services and markets
7.1.04A Meaning of kind of financial products (section 1012IA of the Act)
7.1.04B Meaning of class of financial products (managed investment schemes)
7.1.04C Meaning of class of financial products (superannuation products)
7.1.04CAA Meaning of claimant intermediary --persons excluded from being claimant intermediaries
7.1.04CA Kinds of financial products
7.1.04CB When providing certain claims handing and settling services is not the primary part of a business
7.1.04D Meaning of issuer for certain derivatives
7.1.04E Issue of a new interest in a superannuation fund
7.1.04F Meaning of class of financial services (subsections 917A(3), 917C(2) and 917C(3) of the Act)
7.1.04G Meaning of issuer for a foreign exchange contract
7.1.04N Specific things that are financial products--litigation funding schemes and arrangements
7.1.05 Specific things that are not financial products: superannuation interests
7.1.06 Specific things that are not financial products: credit facility
7.1.06A Arrangements for certain financial products that are not credit facilities
7.1.07 Specific things that are not financial products: surety bonds
7.1.07A Specific things that are not financial products: rental agreements
7.1.07B Specific things that are not financial products: bank drafts
7.1.07C Specific things that are not financial products: insurance under an overseas student health insurance contract
7.1.07E Specific things that are not financial products: rights of the holder of a debenture
7.1.07F Specific things that are not financial products: money orders
7.1.07G Specific things that are not financial products: electronic funds transfers
7.1.07H Specific things that are not financial products: ACT insurance
7.1.07J Specific things that are not financial products--carbon abatement
7.1.08AA Meaning of financial product advice --advice that is not regarded as a necessary part of providing claims handling and settling services
7.1.08 Meaning of financial product advice : exempt document or statement
7.1.08A Modification of section 766D of the Act--free carbon units
7.1.09 Obligations related to clearing and settlement facility
7.1.10 Conduct that does not constitute operating a clearing and settlement facility
Division 2--Retail clients and wholesale clients
7.1.11 Meaning of retail client and wholesale client : motor vehicle insurance product
7.1.12 Meaning of retail client and wholesale client : home building insurance product
7.1.13 Meaning of retail client and wholesale client : home contents insurance product
7.1.14 Meaning of retail client and wholesale client : sickness and accident insurance product
7.1.15 Meaning of retail client and wholesale client : consumer credit insurance product
7.1.16 Meaning of retail client and wholesale client : travel insurance product
7.1.17 Meaning of retail client and wholesale client : personal and domestic property insurance product
7.1.17A General insurance products: medical indemnity insurance products
7.1.17B Retail clients and wholesale clients: aggregation of amounts for price or value of financial product
7.1.17C Retail clients: traditional trustee company services
7.1.18 Retail clients and wholesale clients: price of investment - based financial products
7.1.19 Retail clients and wholesale clients: value of investment - based financial products
7.1.19A Retail clients and wholesale clients: price of margin lending facilities
7.1.20 Retail clients and wholesale clients: price of income stream financial products
7.1.21 Retail clients and wholesale clients: value of income stream financial products
7.1.22 Retail clients and wholesale clients: value of derivatives
7.1.22AA Retail clients and wholesale clients: contract for difference
7.1.22A Retail clients and wholesale clients: value of foreign exchange contracts
7.1.23 Retail clients and wholesale clients: price of non - cash payment financial products
7.1.24 Retail clients and wholesale clients: value of non - cash payment products
7.1.25 Retail clients and wholesale clients: life risk insurance and other risk - based financial products
7.1.26 Superannuation - sourced money
7.1.27 Retail clients and wholesale clients: effect of wholesale status
7.1.28 Retail clients and wholesale clients: assets and income
Division 3--When does a person provide a financial service?
7.1.28AA Provision of financial product advice about default funds
7.1.28A Circumstances in which a person is taken to be provided a traditional trustee company service
7.1.29 Circumstances in which a person is taken not to provide a financial service
7.1.30 Information and advice about voting
7.1.31 Passing on prepared documents
7.1.33A Allocation of funds available for investment
7.1.33D Investment - linked life insurance products
7.1.33E Advice about the existence of a custodial or depository service
7.1.33G Certain general advice that does not attract remuneration etc.
7.1.33H Certain general advice given by a financial product issuer
Division 4--Dealings in financial products
7.1.34 Conduct that does not constitute dealing in a financial product
7.1.35 Conduct that does not constitute dealing in a financial product
7.1.35A Conduct that does not constitute dealing in a financial product--lawyers acting on instructions
7.1.35B Conduct that does not constitute dealing in a financial product--issuing carbon units, Australian carbon credit units or eligible international emissions units
7.1.35C Conduct that does not constitute dealing in a financial product--carbon units, Australian carbon credit units or eligible international emissions units
Division 5--Custodial or depository services
7.1.40 Conduct that does not constitute the provision of a custodial or depository service
Division 6--Operating a financial market
7.1.50 Operating a financial market
Part 7.2--Licensing of financial markets
Division 1--Market licensees' obligations
7.2.01 Obligation to inform ASIC of certain matters: contraventions of licence or Act
7.2.02 Obligation to inform ASIC of certain matters: becoming director, secretary or executive officer of market licensee
7.2.03 Obligation to inform ASIC of certain matters: ceasing to be director, secretary or executive officer of market licensee
7.2.04 Obligation to inform ASIC of certain matters: voting power in market licensee
7.2.05 Giving ASIC information about a listed disclosing entity
7.2.06 Annual report of market licensee
Division 2--The market's operating rules and procedures
7.2.07 Content of licensed market's operating rules
7.2.08 Content of licensed market's written procedures
Division 3--Powers of the Minister and ASIC
7.2.09 Agencies for compliance assessment
Division 4--The Australian market licence: applications (general)
7.2.10 Application of Division 4
Division 5--The Australian market licence: applications (financial market in foreign country)
7.2.13 Application of Division 5
Division 6--The Australian market licence: other matters
7.2.16 Potential conflict situations
Part 7.2A--Supervision of financial markets
Division 7.2A.1--Enforceable undertakings
7.2A.01 Enforceable undertakings
Division 7.2A.2--Infringement notices
7.2A.03 Definitions for Division 7.2A.2
7.2A.04 When infringement notice can be given
7.2A.05 Statement of reasons must be given
7.2A.06 Contents of infringement notice
7.2A.07 Amount of penalty payable to the Commonwealth
7.2A.08 Compliance with infringement notice
7.2A.09 Extension of compliance period
7.2A.10 Effect of compliance with infringement notice
7.2A.11 Application to withdraw infringement notice
7.2A.12 Withdrawal of infringement notice by ASIC
7.2A.13 Notice of withdrawal of infringement notice
7.2A.14 Withdrawal of notice after compliance
7.2A.15 Publication of details of infringement notice
Part 7.3--Licensing of clearing and settlement facilities
Division 1--Regulation of CS facility licensees: licensees' obligations
7.3.01 Obligation to inform ASIC of certain matters: becoming director, secretary or executive officer of CS facility licensee
7.3.02 Obligation to inform ASIC of certain matters: ceasing to be director, secretary or executive officer of CS facility licensee
7.3.03 Obligation to inform ASIC of certain matters: voting power in CS facility licensee
7.3.04 Annual report of CS facility licensee
Division 2--Regulation of CS facility licensees: the facility's operating rules and procedures
7.3.05 Content of licensed CS facility's operating rules
7.3.06 Content of licensed CS facility's written procedures
Division 3--Regulation of CS facility licensees: powers of the Minister and ASIC
7.3.07 Agencies for compliance assessment
7.3.08 Agencies for compliance assessment
Division 4--The Australian CS facility licence: applications (general)
7.3.09 Application of Division 4
Division 5--The Australian CS facility licence: applications (overseas clearing and settlement facility)
7.3.12 Application of Division 5
Part 7.4--Limits on involvement with licensees
7.4.01 Meaning of widely held market body --prescribed bodies corporate
7.4.02 Record - keeping: market licensee
7.4.03 Record - keeping: CS facility licensee
7.4.04 Information for widely held market body
Part 7.5--Compensation regimes for financial markets
7.5.01 Definitions for Part 7.5
7.5.01A Modification of Act: compensation regimes
7.5.02 Meaning of becoming insolvent
7.5.04 Meaning of excluded person
7.5.06 Meaning of sale and purchase of securities
7.5.07 Meaning of securities business : general
7.5.08 Meaning of securities business : Subdivision 4.9
7.5.10 Meaning of transfer of securities
7.5.13 Effect of contravention of Part 7.5
Division 2--When there must be a compensation regime
7.5.14 Application for Australian market licence: information about compensation arrangements
Division 3--Approved compensation arrangements
7.5.15 Application for approval of compensation arrangements after grant of Australian market licence: information about compensation arrangements
7.5.16 Notification of payment of levies
Division 4--NGF Compensation regime
7.5.18 Application of Division 4
Subdivision 4.2--Third party clearing arrangements
Subdivision 4.3--Contract guarantees
7.5.24 Claim by selling client in respect of default by selling dealer: ASTC - regulated transfer
7.5.25 Claim by selling client in respect of default by selling dealer: transaction other than ASTC - regulated transfer
7.5.26 Claim by buying client in respect of default by buying dealer: ASTC - regulated transfer
7.5.27 Claim by buying client in respect of default by buying dealer: transaction other than ASTC - regulated transfer
7.5.28 Cash settlement of claim: ASTC - regulated transfer
7.5.29 Cash settlement of claim: transfer other than ASTC - regulated transfer
Subdivision 4.7--Unauthorised transfer
7.5.53 Application of Subdivision 4.7
7.5.55 Claim by transferee or sub - transferee
7.5.56 How and when claim may be made
7.5.57 How claim is to be satisfied
7.5.58 Discretionary further compensation to transferor
Subdivision 4.8--Contraventions of ASTC certificate cancellation provisions
7.5.60 Claim in respect of contravention of ASTC certificate cancellation provisions
7.5.61 How and when claim may be made
7.5.62 How claim is to be satisfied
7.5.63 Discretionary further compensation
Subdivision 4.9--Claims in respect of insolvent participants
7.5.64 Claim in respect of property entrusted to, or received by, dealer before dealer became insolvent
7.5.65 Cash settlement of claims if property unobtainable
7.5.66 Ordering of alternative claims and prevention of double recovery
7.5.67 No claim in respect of money lent to dealer
7.5.69 No claim in certain other cases
7.5.72 Power of SEGC to allow and settle claim
7.5.72A Participant - related limits of compensation
7.5.72B Claimant - related limits of compensation
7.5.73 Application of Fund in respect of certain claims
7.5.74 Discretion to pay amounts not received etc because of failure to transfer securities
7.5.75 Reduction in compensation
7.5.76 Claimant may be required to exercise right of set - off
7.5.77 Effect of set - off on claim
7.5.78 Claimant entitled to costs and disbursements
7.5.79 Interest
7.5.80 SEGC to notify claimant if claim disallowed
7.5.81 Arbitration of amount of cash settlement of certain claims
7.5.83 Notification of payment of levies
7.5.84 Notification of payment of levies
Subdivision 4.11--Other provisions relating to compensation
7.5.85 Prescribed body corporate with arrangements covering clearing and settlement facility support
7.5.85A Transitional provision for joining of Chi - X
Division 5--Provisions common to both kinds of compensation arrangements
7.5.86 Excess money in National Guarantee Fund
7.5.87 Excess money in fidelity fund
7.5.88 Minister's arrangements for use of excess money from compensation funds
7.5.89 Payment of excess money from NGF
7.5.90 Use of excess money from NGF
7.5.91 Payment of excess money from fidelity fund
7.5.92 Use of excess money from fidelity fund
Part 7.5A -- Regulation of derivative transactions and derivative trade repositories
Division 2--Regulation of derivative transactions: derivative transaction rules
Subdivision 2.1 -- Power to make derivative transaction rules
7.5A.30 Reporting requirements--prescribed facilities
7.5A.50 Persons on whom requirements cannot be imposed
Subdivision 2.1A--Derivative transaction rules imposing clearing requirements
7.5A.60 Definitions for Subdivision 2.1A
7.5A.61 Meaning of Australian clearing entity
7.5A.62 Meaning of foreign clearing entity
7.5A.63 Clearing requirements--prescribed facilities
7.5A.64 Persons on whom clearing requirements cannot be imposed
7.5A.65 Circumstances in which clearing requirements can be imposed
Subdivision 2.1B--Phase 3 reporting entities--exemption from OTC derivative reporting requirements
7.5A.70 Definitions for Subdivision 2.1B
7.5A.71 Exemption--single - sided transaction and position reporting
7.5A.72 Reporting counterparties
7.5A.73 Application of exemptions
7.5A.74 Reporting requirement--exemption stops applying
Subdivision 2.2--Enforceable undertakings
7.5A.101 Enforceable undertakings
Subdivision 2.3--Infringement notices
7.5A.102 Infringement notices
7.5A.103 Definitions for Subdivision
7.5A.104 When infringement notice can be given
7.5A.105 Statement of reasons must be given
7.5A.106 Contents of infringement notice
7.5A.107 Amount of penalty payable to the Commonwealth
7.5A.108 Compliance with infringement notice
7.5A.109 Extension of compliance period
7.5A.110 Effect of compliance with infringement notice
7.5A.111 Application to withdraw infringement notice
7.5A.112 Withdrawal of infringement notice by ASIC
7.5A.113 Notice of withdrawal of infringement notice
7.5A.114 Withdrawal of notice after compliance
7.5A.115 Publication of details of infringement notice
Division 5--Regulation of licensed derivative trade repositories: other obligations and powers
7.5A.150 Obligations and powers--confidential information
7.5A.150A European Union requests for derivative trade data
7.5A.150B Other requests for derivative trade data
7.5A.151 Obligations relating to derivative trade data
7.5A.200 ASIC may assess licensee's compliance
Division 7--Regulation of prescribed derivative trade repositories
7.5A.250 Obligations and powers--confidential information
Part 7.6--Licensing of providers of financial services
7.6.01 Need for Australian financial services licence: general
7.6.01AAAA Need for Australian financial services licence: prescribed insurance products in relation to claimant intermediaries
7.6.01AAAB Need for Australian financial services licence: issuers of insurance products
7.6.01AAA Particular financial products not exempted
7.6.01AB Obligation on persons providing exempt financial service
7.6.01A Providing financial services on behalf of a person who carries on a financial services business
7.6.01B Need for Australian financial services licence: financial product advice provided by the media
7.6.01C Obligation to cite licence number in documents
7.6.02 Alternative dispute resolution systems
7.6.02AAA Arrangements for compensation if financial services provided to persons as retail clients (Act s 912B)
7.6.02AA Modification of section 912B of the Act: professional indemnity insurance and security instead of arrangements for compensation
7.6.02AB Modification of section 761G of the Act: meaning of retail client and wholesale client
7.6.02AC Modification of section 761G of the Act: meaning of retail client and wholesale client
7.6.02AD Modification of section 761G of the Act: meaning of retail client and wholesale client
7.6.02AE Modification of section 9 of the Act: Definition of professional investor
7.6.02AF Modification of section 761G of the Act: renewal period for accountants' certificates
7.6.02AG Modification of section 911A of the Act
7.6.02AH Modification of paragraph 911B(1)(e) of the Act
7.6.02A Obligation to notify ASIC of certain matters
7.6.03 Applying for Australian financial services licence
7.6.03A Australian financial services licence--requirements for a foreign entity to appoint local agent
7.6.03B Foreign entity must continue to have local agent
7.6.03C Financial services licensee must cooperate with AFCA
7.6.04 Conditions on Australian financial services licence
7.6.04AA Time limits for notification of authorised representatives--modification of section 916F of the Act
7.6.04A Exemptions to notification of authorised representatives
7.6.05 Register of financial services licensees and register of authorised representatives of financial services licensees
7.6.06 ASIC register relating to persons against whom banning order or disqualification order is made
7.6.06D Register of Relevant Providers--prescribed instruments
7.6.07 Restriction on use of certain words or expressions
7.6.07A Modification of section 923C
7.6.07B Exam for existing providers
Part 7.6B--Provision of information to APRA about contracts of insurance
7.6.08A Definitions
7.6.08C Modification of section 912CA of the Act
7.6.08D Information about general insurance products
7.6.08E Information about general insurance products--unauthorised foreign insurers