Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p86
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 86/148)
Character Range: 546747–549437

and
 (C) in the ordinary course of his or her activities as a lawyer;
 (iii) the financial service can reasonably be regarded as a necessary part of those activities;
 (iv) the lawyer has not received, and will not receive, a benefit in connection with the activities other than:
 (A) the payment of professional charges related to those activities; and
 (B) reimbursement for expenses incurred or payment on account of expenses to be incurred on behalf of the client, an associate of the client or a relative of the client;
  from the client or from another person on behalf of the client; or
 (i) the financial product is held by a trustee appointed under:
 (i) a law of a State or Territory to administer monies awarded to a person as compensation; or
 (ii) a trust formed for a charitable purpose.
 (2) For paragraph 766E(3)(e) of the Act, conduct that is mentioned in subsection 766E(1) of the Act does not constitute providing a custodial or depository service if the financial product is an Australian carbon credit unit that has been issued to:
 (a) a special native title account in accordance with section 49 of the Carbon Credits (Carbon Farming Initiative) Act 2011; or
 (b) a nominee account in accordance with section 141 of that Act.

Division 6—Operating a financial market

7.1.50  Operating a financial market
  For paragraph 767A(2)(a) of the Act, the following circumstances are specified as circumstances in which the conduct of a person making or accepting offers or invitations to acquire or dispose of financial products, on the person's own behalf or on behalf of one party to the transaction only, constitutes the operating of a financial market:
 (a) the Clean Energy Regulator making or accepting offers or invitations to acquire or dispose of carbon units on its own behalf, or on behalf of the Commonwealth only, in the course of conducting an auction of carbon units under the Clean Energy Act 2011;
 (b) a person making or accepting offers or invitations to acquire or dispose of carbon units on behalf of the Clean Energy Regulator only, in the course of assisting the Clean Energy Regulator to conduct an auction of carbon units under the Clean Energy Act 2011.

Part 7.2—Licensing of financial markets

Division 1—Market licensees' obligations

7.2.01  Obligation to inform ASIC of certain matters: contraventions of licence or Act
  For paragraph 792B(3)(b) of the Act, a matter to which that paragraph relates is any matter that, in the opinion of a market licensee, constitutes or may constitute a contravention of:
 (a) a condition of a licence held by a financial services licensee; or
 (b) Subdivision A or B of Division 2 of Part 7.8 of the Act; or