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ASIC Corporations (Amendment) Instrument 2023/2

Authoritative Version
  • - F2023L00039
  • In force - Latest Version
Other as made
This instrument amends the ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152 to extend the class relief to allow Australian Securities Exchange Limited market participants to hold client money relating to New Zealand dollar denominated over-the-counter derivatives that are cleared or to be cleared by ASX Clear (Futures) Pty Limited in an account with any bank that is incorporated in New Zealand and which is prudentially regulated by the Reserve Bank of New Zealand.
Administered by: Treasury
Registered 17 Jan 2023
Table of contents.

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ASIC Corporations (Amendment) Instrument 2023/2

I, Calissa Aldridge, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date                16 January 2023

 

 

 

Calissa Aldridge

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2023/2.

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        Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.


Schedule 1—Amendments

ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152

1        Section 5 (notional subparagraph 981B(1)(a)(iii))

After “if the money is ASX 24 NZD futures contract money”, insert “or ASX NZD OTC clearing derivative money”.

2        Section 5 (notional subsection 981B(3))

Insert the following definitions:

ASX NZD OTC clearing derivative means a New Zealand dollar-denominated OTC derivative that is cleared or to be cleared by ASX Clear (Futures) Pty Limited (ACN 050 615 864).

ASX NZD OTC clearing derivative 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 NZD OTC clearing derivative; or

(b)     the financial product referred to in subparagraph 981A(1)(a)(ii) is an ASX NZD OTC clearing derivative.

OTC derivative means a derivative that is not able to be traded on a prescribed financial market.