7.8.10
CurrentCircumstances in which margin lending facility is unsuitable
Chapter 7Financial services and markets
Part 7.8Other provisions relating to conduct etc connected with financial products and financial services, other than financial product disclosure
Division 4ASpecial provisions relating to margin lending facilities
Subdivision AResponsible lending conduct for margin lending facilities
7.8.10 Circumstances in which margin lending facility is unsuitable
For paragraph 985H(2)(b) of the Act, a margin lending facility, or a margin lending facility whose limit is proposed to be increased, is unsuitable for a retail client if the client:
(a)
is, on an ongoing basis, unable to be contacted by any of the usual means of communication; and
(b)
has not appointed an agent to act on the client’s behalf.
This Act’s bill:Explanatory statement
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