Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.1.34

Conduct that does not constitute dealing in a financial product

             (1)  This regulation does not apply in relation to a margin lending facility.

             (2)  For subsection 766C(7) of the Act, the following conduct does not constitute dealing in a financial product:

                     (a)  the enforcement of rights under a credit facility, including the enforcement of rights by a person acting under a power of attorney;

                     (b)  the disposal of a financial product that is subject to a mortgage or the transfer of such a product to the mortgagor, whether the disposal or transfer is carried out at the direction of the mortgagor or occurs as a result of the mortgagor fulfilling its obligations under the mortgage.

Example for paragraph (a):            A mortgagee exercising a power of sale under a mortgage.



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