Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:6_47
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 6 cl 47
Character Range: 179395–179874

47  Subsection 12‑390(9) in Schedule 1
Repeal the subsection, substitute:

Meaning of custodian
 (9) An entity is a custodian if:
 (a) the entity is *carrying on a *business that consists predominantly of providing a custodial or depository service (as defined by section 766E of the Corporations Act 2001) pursuant to an *Australian financial services licence; or
 (b) the entity is acting on behalf of an entity that is carrying on such a business pursuant to such a licence.