Commonwealth Consolidated Regulations

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Nexus with Australia

                   This Subdivision does not, because of a person (the dealer ) having become insolvent at a particular time, entitle a person to make a claim in respect of property unless:

                     (a)  the dealer was at that time a participant of at least 1 of the following:

                              (i)  a participating market licensee;

                             (ii)  the licensed CS facility operated by ACH; and

                     (b)  either:

                              (i)  the dealer was carrying on a securities business in Australia at that time; or

                             (ii)  the last business that the dealer carried on in Australia before that time was a securities business, and the person's claim relates to that business as it was carried on in Australia.

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