Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:2:p6
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 2 (pt 6/22)
Character Range: 447480–450306

this section on behalf of a dealer who is or was an SCH participant a claim that the dealer is entitled to make, the securities clearing house is entitled to make that claim on behalf of that dealer.

  "(4B) If the securities clearing house is entitled under subsection (4A) to make claims under this section on behalf of 2 or more dealers, the securities clearing house is entitled to make a single claim under this section on behalf of both or all of those dealers in respect of the sum of the amounts in respect of which it is entitled to make separate claims on behalf of each of those dealers.";

  (c)     by inserting in subsection (5) "or the securities clearing house" after "body";

  (d)    by omitting from paragraph (5)(a) "or (3)" and substituting ", (3) or (4A)";

  (e)     by inserting after paragraph (5)(a) the following word and paragraph:

          "and (aa) if a transfer of the securities pursuant to the sale would be an SCH-regulated transfer—the dealer:

               (i) has done all things that the dealer is required to do under the SCH business rules to effect a transfer of the securities pursuant to the sale; or

               (ii) has, for the purposes of the claim, in accordance with the SCH business rules, transferred to SEGC or to an Exchange body securities of the same kind and number as the first-mentioned securities; and";

  (f) by inserting in paragraph (5)(b) "if paragraph (aa) does not apply—" before "the dealer";

(g) by adding at the end of paragraph (5)(b) "and";

   (h) by omitting from subsection (6) "or (4)" and substituting ", (4) or (4B)";

  (i) by omitting subsection (7) and substituting the following subsection:

     "(7) If a dealer transfers securities to an Exchange body as mentioned in subparagraph (5)(aa)(ii), the Exchange body must account to SEGC for those securities in accordance with the SCH business rules.".

  Claim by buying dealer in respect of default by selling dealer

      135. Section 950 of the Corporations Law is amended:

      (a) by omitting paragraph (1)(b) and substituting the following paragraph:

      "(b) the other dealer:

             (i) if a transfer of the securities concerned pursuant to the purchase would be an SCH-regulated transfer—has not done all things that that dealer is required to do under the SCH business rules to effect a transfer of the securities pursuant to the purchase; or

              (ii) in any other case—has not supplied to the first-mentioned dealer, under that agreement, settlement documents in relation to the purchase;";

  (b)    by adding at the end of paragraph (2)(a) "and";

    (c)     by inserting after paragraph (2)(b) the following word and paragraph:

            "and (ba) if a transfer of the securities pursuant to the purchase would be an SCH-regulated transfer—the