Document ID: chunk:federal_register_of_legislation:F2023C00208:reg:17:p13
Version: federal_register_of_legislation:F2023C00208
Segment Type: reg
Provision Reference: reg 17 (pt 13/14)
Character Range: 32733–35417

1020B products in relation to a proposed admission to quotation of the products in relation to a listed corporation or a listed scheme.
           Corporate actions—deferred settlement trading arrangements

           (7G) Subsections (7H) to (7J) apply to a sale of section 1020B products on a licensed market, during a deferred settlement trading period, in relation to a corporate action.

           (7H) A person must only, in this jurisdiction, sell section 1020B products to a buyer on a licensed market during a deferred settlement trading period if, at the time of the sale:

              (a) the person is or, if the person is selling on behalf of another person, that other person is; or

              (b) the person believes on reasonable grounds that the person is or, if the person is selling on behalf of another person, that other person is;

           in a class of persons who, because such persons hold financial products of a particular class, have an entitlement to be issued with or transferred the section 1020B products under or in connection with the corporate action.
           (7I) Subsections (2) and (7H) do not apply in relation to a sale of section 1020B products on a licensed market during a deferred settlement trading period:
                (a) by a person who, during the deferred settlement trading period but before the time of the sale, has entered into a contract on the market to buy the products; or
                (b) by a person selling on behalf of the person mentioned in paragraph (a) in the circumstances covered by that paragraph.

           (7J) For the purposes of subsections (7G) to (7I):
            corporate action means a proposed issue of section 1020B products under or in connection with:
(a) a compromise or arrangement under Part 5.1;
(b) a rights issue;
(c) a dividend or distribution reinvestment plan;
(d) a bonus issue;
(e) a conversion of convertible notes or convertible securities;
(f) a conversion of shares under section 254H.
            deferred settlement trading arrangements, in relation to a corporate action, means arrangements determined by ASX Limited in accordance with the operating rules of the financial market operated by it, under which the settlement of sales of section 1020B products in relation to the corporate action is deferred according to a timetable published by ASX Limited.
            deferred settlement trading period, in relation to a corporate action, means a period determined by ASX Limited in accordance with the operating rules of the financial market operated by it, during which deferred settlement trading arrangements apply in relation to the corporate action.