Document ID: chunk:federal_register_of_legislation:F2021L01333:body:0:p4
Version: federal_register_of_legislation:F2021L01333
Segment Type: other
Provision Reference: 
Character Range: 8201–11397

in the capacity as borrower under the securities lending arrangement; and
            (b) subsection (10C) stops applying in respect of particular securities when the agent lender transfers the securities to the borrower.
         (10E) In subsections (10A) to (10D) and in this subsection:
         agency lending business means a business of acting as an agent lender for wholesale clients under authorisation agreements.
         agent lender has the same meaning as in subsection 608(8C).
         authorisation agreement has the same meaning as in subsection 608(8C).
         borrower the same meaning as in paragraphs 608(8A)(a) and (b).
         custodial business means a business of providing to wholesale clients a package of at least the following financial services and other services:
            (a) custodial or depository services;
            (b) services in relation to a securities lending arrangement.
         custodial or depository service has the meaning given by subsection 766E(1).
         lender has the same meaning as in paragraphs 608(8A)(a) and (b).
         permissible restriction means:
            (a) a mortgage, charge or security taken or acquired in relation to the securities in the ordinary course of carrying on a prime broking business, a custodial business or an agency lending business and on ordinary commercial terms; or
            (b) any restrictions of a procedural or administrative nature in relation to giving instructions to the service provider for dealing in the securities.
         prime broking business means a business of providing to wholesale clients a package of at least the following services in accordance with a written agreement commonly known as a prime broking agreement or prime brokerage agreement:
            (a) dealing in a financial product to the extent the dealing is acquiring or disposing of the financial product, or arranging for another person to acquire or dispose of the financial product;
            (b) services that enable or facilitate clients to meet their obligations to other persons that arise from entering into transactions with those other persons in connection with the acquisitions and disposals mentioned in paragraph (a);
            (c) custodial or depository services;
            (d) services in relation to a securities lending arrangement;
            (e) consolidated reporting and other operational support services.
         securities lending arrangement has the same meaning as in paragraphs 608(8A)(a) and (b).
         service provider means a person who carries on any or all of the following:
            (a) a custodial business;
            (b) a prime broking business;
            (c) an agency lending business.
         wholesale client has the meaning given by section 761G. ".
            Note: For the avoidance of doubt, nothing in sections 6 and 7 of this instrument has effect for the purposes of Chapter 6 or Part 6C.2 of the Act.

8 Securities lending—substantial holding information
    Chapter 6C of the Act applies to all persons as if section 671B were modified or varied as follows:
       (1) after subsection (3) insert:
       "Information that need not