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CORPORATIONS ACT 2001 - SECT 981M

Complying with client money reporting rules

             (1)  Financial services licensees must comply with the client money reporting rules.

Note:          This subsection is a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see section 1317S.

             (2)  If there is an inconsistency between the client money reporting rules, and any of the following other rules:

                     (a)  the market integrity rules;

                     (b)  the derivative transaction rules;

                     (c)  the derivative trade repository rules;

those other rules prevail to the extent of the inconsistency.

Note:          If there is an inconsistency between the client money reporting rules and the operating rules of a licensed market or of a licensed CS facility, the client money reporting rules prevail: see subsections 793B(2) and 822B(2).



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