Document ID: chunk:federal_register_of_legislation:C2023A00076:clause:2_485
Version: federal_register_of_legislation:C2023A00076
Segment Type: clause
Provision Reference: sch 2 cl 485
Character Range: 162895–163593

485  Subsection 984B(3)
Repeal the subsection, substitute:
 (3) However, if the financial service or product, in connection with the property given, would be provided to the client as a retail client if:
 (a) the service or product were provided to the client when the property is given; and
 (b) section 761GA (about sophisticated investors) did not apply; and
then subsection (2) only applies to an obligation if:
 (c) the entry into of the derivative referred to in paragraph (2)(a) or (b) was or will be cleared through an authorised clearing and settlement facility; and
 (d) the licensee incurred the obligation, in connection with the derivative, under the operating rules of the facility.