Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 1020AAA

Treatment of transactions relating to section 1020B products

  (1)   For the purposes of this Division, treat the following as being made on a licensed market:

  (a)   a sale of section   1020B products made by a financial services licensee on behalf of both the buyer and the seller of the products;

  (b)   a sale of section   1020B products made by a financial services licensee on behalf of the buyer of the products and on its own behalf as seller of the products;

  (c)   a sale of section   1020B products made by a financial services licensee on behalf of the seller of the products and on its own behalf as buyer of the products.

  (2)   To avoid doubt, for the purposes of this Division, treat the entering into of an agreement to sell section   1020B products as the sale of the products.

  (3)   To avoid doubt, for the purposes of this Division, treat a financial services licensee as making a sale on behalf of a person if the sale is, in economic substance, made by the licensee for the person.

Example:   A request that the sale be made is passed from the person to the financial services licensee through a chain of intermediaries.


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