Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698836983383.pdf (New Zealand)
2009/259 Futures Contracts (Commonwealth Securities Limited) Exemption Notice 2009 Pursuant to section 48(1)(d) of the Securities Markets Act 1988, the Securities Commission gives the following notice (to which is ap- pended a statement of reasons of the Securities Commission).

Contents Title Commencement Expiry Interpretation Exemption Conditions of exemption Page 1 1 1 1 2 2 Notice Title This notice is the Futures Contracts (Commonwealth Secur- ities Limited) Exemption Notice 2009.
Commencement This notice comes into force on the day after the date of its notification in the Gazette.

Expiry This notice expires on the close of 30 September 2014.
(1) Interpretation In this notice, unless the context otherwise requires,— 1 cl 5 Futures Contracts (Commonwealth Securities Limited) Exemption Notice 2009 2009/259 Act means the Securities Markets Act 1988 AFS licence means Commonwealth Securities Limited’s Aus- tralian financial services licence granted under the Corpor- ations Act Corporations Act means the Corporations Act 2001 of the Commonwealth of Australia specified futures contract means a futures contract that is a contract made on or effected through a market operated by ASX Limited, a company incorporated in Australia.
(2) Any term or expression that is defined in the Act and used, but not defined, in this notice has the meaning given to it by the Act.

Exemption Commonwealth Securities Limited is exempt from compli- ance with the Futures Industry (Client Funds) Regulations 1990 in respect of its dealings in specified futures contracts.
(b) Conditions of exemption The exemption in clause 5 is subject to the conditions that— Commonwealth Securities Limited complies with the (a) conditions set out in clause 3(2) of the Authorised Fu- tures Dealers (Commonwealth Securities Limited) No- tice 2009; and Commonwealth Securities Limited holds client funds in a segregated client funds account in accordance with the provisions of the AFS licence, the Corporations Act, and any regulations made under the Corporations Act in relation to the protection of client money and client property; and Commonwealth Securities Limited provides a copy of any auditor’s report that shows non-compliance with any of the following to the Securities Commission as soon as is reasonably practicable after receiving that report: (i) (ii) (iii) the AFS licence: the Corporations Act: regulations made under the Corporations Act.
(c) 5 6 2 2009/259 Futures Contracts (Commonwealth Securities Limited) Exemption Notice 2009 Statement of reasons Dated at Wellington this 8th day of September 2009.

The Common Seal of the Securities Commission was affixed in the presence of: [Seal] J Diplock, Chairperson.
Statement of reasons Under this notice, which comes into force on the day after its no- tification in the Gazette and expires on 30 September 2014, Com- monwealth Securities Limited is exempted from the Futures Industry (Client Funds) Regulations 1990 in respect of its dealings in futures contracts made on or effected through a market operated by the Aus- tralian Securities Exchange.
The Securities Commission considers it is appropriate to grant this exemption because— • Commonwealth Securities Limited currently carries on busi- ness in Australia, and is subject to regulation by the Australian Securities and Investments Commission, the Australian Secur- ities Exchange, and the Sydney Futures Exchange.
The ex- emption will allow Commonwealth Securities Limited to carry on its business with New Zealand clients under the same rules as apply in respect of its Australian clients; and the requirements of Australian law in respect of client money and client property are broadly equivalent to those under the Futures Industry (Client Funds) Regulations 1990, and provide adequate protection for New Zealand clients’ assets; and by requiring Commonwealth Securities Limited to hold client money in a segregated client funds account in accordance with • • 3 Futures Contracts (Commonwealth Securities Limited) Exemption Notice 2009 2009/259 the provisions of Australian law in relation to the protection of client money and client property, the conditions of the ex- emption provide adequate alternative safeguards for preserv- ing client money and client property.
Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 10 September 2009.

This notice is administered by the Securities Commission.

12 4 Wellington, New Zealand: Published under the authority of the New Zealand Government—2009