Clearing arrangements
7.5.19 Clearing arrangements
For Subdivision 4.3, if:
a participant of Australian Stock Exchange Limited (the transacting participant) enters into a reportable transaction; and
under Australian Stock Exchange Limited’s operating rules or under ACH’s operating rules, another participant (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulations 7.5.24 to 7.5.27 (inclusive) apply in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.
For Subdivision 4.9, if:
a participant of Australian Stock Exchange Limited (the transacting member) enters into a reportable transaction; and
under Australian Stock Exchange Limited’s operating rules or under ACH’s operating rules, another participant (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulation 7.5.66 applies in relation to the function of completing the transaction as if the clearing participant, and not the transacting participant, had entered into the transaction.
For Subdivision 4.3, if:
a participant of the licensed CS facility operated by ACH (the transacting participant) enters into a reportable transaction; and
under the operating rules of ACH, another participant (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulations 7.5.24 to 7.5.27 (inclusive) apply in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.
For Subdivision 4.3, if:
a participant of Australian Stock Exchange Limited (the transacting participant) enters into a reportable transaction; and
under the operating rules of Australian Stock Exchange Limited or ACH, a participant of the licensed CS facility operated by ACH (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulations 7.5.24 to 7.5.27 (inclusive) apply in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.
For Subdivision 4.9, if:
a participant of the licensed CS facility operated by ACH (the transacting member) enters into a reportable transaction; and
under the operating rules of ACH, another participant (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulation 7.5.66 applies in relation to the function of completing the transaction as if the clearing participant, and not the transacting participant, had entered into the transaction.
For Subdivision 4.9, if:
a participant of Australian Stock Exchange Limited (the transacting participant) enters into a reportable transaction; and
under the operating rules of Australian Stock Exchange Limited or ACH, a participant of the licensed CS facility operated by ACH (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulation 7.5.66 applies in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.
This Act’s bill:Explanatory statement
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