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CORPORATIONS REGULATIONS 2001 - REG 7.9.99 Interpretation

CORPORATIONS REGULATIONS 2001 - REG 7.9.99

Interpretation

  (1)   In this Division:

"reporting day" , in relation to a short position, means a day on which the Sydney office of ASIC is open for business.

Meaning of short position

  (2)   In this Division, a short position is a position in relation to a section   1020B product in a listed entity where the quantity of the product which a person has is less than the quantity of the product which the person has an obligation to deliver.

  (3)   In subregulation   (2), the person has the product if:

  (a)   the person is holding the product on the person's own behalf; or

  (b)   another person is holding the product on the person's behalf; or

  (c)   the person has entered into an agreement to buy the product but has not received it; or

  (d)   the person has vested title in the product in a borrower, or in an entity nominated by the borrower, under a securities lending arrangement.

  (4)   In subregulation   (2), the product which the person has an obligation to deliver is the product which the person:

  (a)   has an obligation to deliver under a sale agreement where the product has not been delivered; or

  (b)   has an obligation to vest title in a lender under a securities lending arrangement; or

  (c)   has any other non - contingent legal obligation to deliver.

References to time

  (5)   A reference in this Division to a time is a reference to the legal time in Sydney, New South Wales.

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