Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1241a
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1241A
Character Range: 300893–302404

1241A  For Chapter 7, treat the corporate director as providing financial services etc. being provided by the CCIV
 (1) This section applies to a provision of Chapter 7 that applies in relation to:
 (a) a financial services licensee; or
 (b) a financial service or a financial services business; or
 (c) a matter prescribed by the regulations for the purposes of this paragraph.

General rule
 (2) For the purposes of that provision of Chapter 7:
 (a) treat any conduct engaged in by, or on behalf of, a CCIV as also being engaged in by, or on behalf of, the corporate director of the CCIV; and
 (b) treat any conduct relating to the CCIV that is engaged in by a person (other than the corporate director of the CCIV) as also being engaged in by that person in relation to the corporate director of the CCIV.
 (3) In subsection (2), conduct means an act, an omission to perform an act or a state of affairs.

Exceptions
 (4) If the CCIV issues a security in the CCIV, then subsection (2) does not treat the corporate director of the CCIV as also being the issuer of the security.
 (5) If the CCIV is a participant (within the meaning of Chapter 7) in:
 (a) a clearing and settlement facility; or
 (b) a financial market;
subsection (2) does not treat the corporate director of the CCIV as also being a participant (within the meaning of Chapter 7) in relation to the facility or market.
 (6) Subsection (2) does not apply in any circumstances prescribed by the regulations for the purposes of this subsection.