Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p55
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 55/148)
Character Range: 470602–473338

and settlement facility
 (2) For paragraph 768A(2)(i) of the Act, the conduct of:
 (a) National Stock Exchange of Australia Limited, or an agent of that body; or
 (b) a participant of the National Stock Exchange of Australia Limited, or an agent of the participant; or
 (c) Bendigo Stock Exchange Limited, or an agent of that body; or
 (d) a participant of the Bendigo Stock Exchange Limited, or an agent of the participant;
in operating a facility in accordance with the operating rules of a licensed market does not constitute operating a clearing and settlement facility if the requirements of subregulation (3) are met.
 (3) For subregulation (2), the requirements are:
 (a) the market licensee must have, and must be responsible for enforcing, operating rules that apply to a participant of the licensed market in relation to the participant's obligations arising from transactions carried out on the licensed market; and
 (b) a participant mentioned in paragraph (a), or an agent of the participant appointed in accordance with the operating rules of the licensed market, must be responsible for fulfilling the obligations owed to another participant or agent arising from transactions carried out on the licensed market; and
 (c) the market licensee is not the operator of any other clearing and settlement facility; and
 (d) each participant of the licensed market is not the operator of any other clearing and settlement facility; and
 (e) each agent of a participant of the licensed market is not the operator of any other clearing and settlement facility.

Division 2—Retail clients and wholesale clients

7.1.11  Meaning of retail client and wholesale client: motor vehicle insurance product
 (1) For subparagraph 761G(5)(b)(i) of the Act, a motor vehicle insurance product is a contract or part of a contract that provides insurance cover (whether or not the cover is limited or restricted in any way) in respect of one or more of the following:
 (a) loss of, or damage to, a motor vehicle;
 (b) liability for loss of, or damage to, property caused by or resulting from impact of a motor vehicle with some other thing.
 (2) A motor vehicle insurance product does not include:
 (a) insurance to or in relation to which the Marine Insurance Act 1909 applies; or
 (b) insurance entered into, or proposed to be entered into, for the purposes of a law (including a law of a State or Territory) that relates to:
 (i) workers' compensation; or
 (ii) compulsory third party compensation.
 (3) In this regulation:
motor vehicle means a vehicle that is designed:
 (a) to travel by road; and
 (b) to use volatile spirit, steam, gas, oil, electricity or any other power (not being human power or animal power) as its principal means of