Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 03/826]

Authoritative Version
CO 03/826 Orders/ASIC Class Orders as made
This Class Order exempts holders of an Australian financial services licence when dealing with wholesale clients who are not in Australia under instructions in relation to dealing with a foreign financial market, from the requirement to keep certain records of the transactions, as otherwise required under Corporations Regulations 2001.
Administered by: Treasury
General Comments: This instrument was published in the Australian Securities and Investments Commission Gazette on 1 October 2003.
Registered 28 Mar 2007
Gazetted 01 Oct 2003
Date of repeal 24 Sep 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/890

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 992B(1)(a) — Exemption

 

1.         Under paragraph 992B(1)(a) of the Corporations Act 2001 (the Act), the Australian Securities and Investments Commission exempts a holder of an Australian financial services licence from Regulation 7.8.19 of the Corporations Regulations 2001 in relation to each instruction to deal in financial products received by the holder to which both of the following apply:

 

(a)        the instruction is from or on behalf of a wholesale client who is not in this jurisdiction; and

 

(b)       the instruction is for a dealing through a financial market that is not operated in this jurisdiction.

Interpretation

 

2.         In this instrument, wholesale client has the meaning given by section 761G of the Act.

 

Dated this 26th day of September 2003

 

 

 

 

Signed by Stephen Yen, PSM
as a delegate of the Australian Securities and Investments Commission