7.5.68
CurrentNexus with Australia
Chapter 7Financial services and markets
Part 7.5Compensation regimes for financial markets
Division 4NGF Compensation regime
Subdivision 4.9Claims in respect of insolvent participants
7.5.68 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.
This Act’s bill:Explanatory statement
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