Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:21:p17
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 21 (pt 17/24)
Character Range: 1516056–1518891

Pty Limited is the counter‑party in the transaction—Options Clearing House Pty Limited.
 (3) For this regulation, the effect of regulation 7.11.26 is to be disregarded in determining whether a person:
 (a) was legally entitled or authorised to transfer Division 4 financial products; or
 (b) was authorised by another person to effect a transfer of Division 4 financial products.

7.11.32  Indemnities in respect of warranted matters: participant not authorised to effect transfer
 (1) This regulation applies if:
 (a) a participant is taken by regulation 7.11.29 to have warranted, in relation to a proper ASTC transfer of a Division 4 financial product, that the participant was authorised by the transferor to effect the transfer; and
 (b) the participant was not authorised by the transferor to effect the transfer.
 (2) The participant is liable to indemnify each of the following against any loss or damage arising from the participant not having been authorised by the transferor to effect the transfer:
 (a) the issuer in relation to the Division 4 financial product;
 (b) the transferor;
 (c) the transferee;
 (d) if a participant acted as the transferee's agent in the transfer—that participant;
 (e) the prescribed CS facility operated by ASTC;
 (f) if TNS Clearing Pty Limited is the counter‑party in the transaction—TNS Clearing Pty Limited;
 (g) if Options Clearing House Pty Limited is the counter‑party in the transaction—Options Clearing House Pty Limited.
 (3) For this regulation, the effect of regulation 7.11.26 is to be disregarded in determining whether a person:
 (a) was legally entitled or authorised to transfer Division 4 financial products; or
 (b) was authorised by another person to effect a transfer of Division 4 financial products.

7.11.33  Joint and several warranties and liabilities
 (1) If 2 or more persons are taken to have warranted in the terms mentioned in subregulation 7.11.29(2), (4) or (6), the persons are taken to have warranted jointly and severally.
 (2) If 2 or more persons are liable as mentioned in regulation 7.11.30, 7.11.31 or 7.11.32, the persons are liable jointly and severally.

7.11.34  ASTC entitled to assume its operating rules complied with
 (1) This regulation applies if the prescribed CS facility operated by ASTC assumes without inquiry, in the absence of knowledge to the contrary, that anything purporting to be done under the ASTC operating rules in connection with a transfer of a Division 4 financial product has been done in accordance with those rules.
 (2) If the prescribed CS facility operated by ASTC assumes, in reliance on subregulation (1), that a thing was done in accordance with the ASTC operating rules, the thing is taken to have been done in accordance with those rules.
 (3) If the prescribed CS facility operated by ASTC:
 (a) acts on behalf