Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 10.2.71

Sequencing of instructions to deal through licensed markets: financial services licensee who formerly held a futures brokers licence

             (1)  For section 1444 of the Act, this regulation applies in relation to a financial services licensee:

                     (a)  who is a regulated principal mentioned in item 3 of the table in section 1430 of the Act; and

                     (b)  whose financial services licence covers regulated activities for a regulated principal of that kind;

in relation to instructions to deal in a class of futures contracts (within the meaning of section 72 of the old Corporations Act) that were received by the licensee before the licensee became a financial services licensee.

             (2)  Section 1266 of the old Corporations Act (other than subsections 1266(7) and (8)), and any associated provisions, continue to apply in relation to the regulated principal after the end of the transition period in relation to the person entering into a transaction in derivatives of the same class as those to which the instructions relates as if the person were a futures broker within the meaning of the old Corporations Act.

             (3)  This regulation applies until the regulated principal has complied with the instructions.



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