Document ID: chunk:federal_register_of_legislation:F2021L00421:body:0:p3
Version: federal_register_of_legislation:F2021L00421
Segment Type: other
Provision Reference: 
Character Range: 5314–8255

is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii)  an Australian citizen; or
              (iii)  ordinarily resident in Australia;
           (b)  the issue of the binary option occurs in this jurisdiction, or an offer to issue the binary option, or to apply for the issue of the binary option, is received in this jurisdiction.
(7)  Subsection (2) applies only if one or both of the following apply:
           (a)  the person who carries on a business of arranging for the issue of binary options is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii)  an Australian citizen; or
           (iii)  ordinarily resident in Australia;
           (b)  the arranging for the issue of the binary option takes place in circumstances where:
              (i)  the issue of the binary option occurs in this jurisdiction; or
              (ii)  an offer to issue the binary option or to apply for the issue of the binary option is received in this jurisdiction.
(8)  Subsection (3) applies only if one or both of the following apply:
           (a)  the person who carries on a business of applying for, or acquiring, binary options as an agent is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii) an Australian citizen; or
              (iii)  ordinarily resident in Australia;
           (b)  the applying for, or acquiring, the binary option on behalf of the retail client takes place in circumstances where:
              (i)  the issue of the binary option occurs in this jurisdiction; or
              (ii)  an offer to issue the binary option or to apply for the issue of the binary option is received in this jurisdiction.
(9) Subsection (4) applies only if one or both of the following apply:
           (a)  the person who carries on a business of arranging for persons to apply for, or acquire, binary options is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii)  an Australian citizen; or
              (iii)  ordinarily resident in Australia;
           (b)  the arranging for the retail client to apply for or acquire the binary option takes place in circumstances where:
              (i)  the issue of the binary option occurs in this jurisdiction; or
              (ii)  an offer to issue the binary option or to apply for the issue of the binary option is received in this jurisdiction.
Note 1: The application of the orders in section 5 is subject to the limitations in section 1023C of the Act.
Note 2: Subject to the Court making an order staying or otherwise affecting the operation of the orders in section 5, the orders will remain in force for 18 months from the day this instrument commences: see subsection 1023G(2) of the Act.

6 Binary option providers to notify retail clients
A