I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 9 March 2018

Contents

Part 1—Preliminary  3

1    Name of legislative instrument 3

2    Commencement 3

3    Authority. 3

4    Definitions. 3

Part 2—Declaration  3

5    Relief from holding client money in an account with an Australian ADI. 3

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under paragraph 992B(1)(c) of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

ASX 24 market means the licensed market operated by Australian Securities Exchange Limited (ACN 000 943 377).

Part 2—Declaration

5        Relief from holding client money in an account with an Australian ADI

Part 7.8 of the Act applies in relation to an Australian financial services licensee that is a participant of the ASX 24 market as if section 981B were modified or varied by:

(a)     after subparagraph 981B(1)(a)(ii), inserting:

“or

(iii)    if the money is ASX 24 NZD futures contract money—with a bank that is incorporated in New Zealand and prudentially regulated by the Reserve Bank of New Zealand;”; and

(b)     after subsection 981B(2), inserting:

“(3)   In this section:

ASX 24 NZD futures contract means a New Zealand dollar-denominated futures contract quoted on the licensed market operated by Australian Securities Exchange Limited (ACN 000 943 377).

ASX 24 NZD futures contract money means money to which this Subdivision applies and in relation to which:

(a)     the financial service referred to in subparagraph 981A(1)(a)(i) is or relates to a dealing in an ASX 24 NZD futures contract; or

(b)     the financial product referred to in subparagraph 981A(1)(a)(ii) is an ASX 24 NZD futures contract.”.