Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_984b
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 984B
Character Range: 463903–465043

984B  How property to which this Division applies is to be dealt with

 (1) Subject to subsection (2), the licensee must ensure that property to which this Division applies is only dealt with in accordance with:
 (a) the requirements (if any) specified in regulations made for the purposes of this paragraph; and
 (b) subject to those requirements:
 (i) the terms and conditions on which the property was given to the licensee; and
 (ii) any subsequent instructions given by the client.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).

 (2) If:
 (a) the financial service referred to in subparagraph 984A(1)(a)(i) is or relates to a dealing in a derivative; or
 (b) the financial product referred to in subparagraph 984A(1)(a)(ii) is a derivative;
the property concerned may also be used for the purpose of meeting obligations incurred by the licensee in connection with margining, guaranteeing, securing, transferring, adjusting or settling dealings in derivatives by the licensee (including dealings on behalf of people other than the client).

Division 4—Special provisions relating to insurance