Document ID: chunk:federal_register_of_legislation:F2024C01107:body:0:p31
Version: federal_register_of_legislation:F2024C01107
Segment Type: other
Provision Reference: 
Character Range: 82427–85421

liability as an Excluded Asset "other prescribed asset" in the "Core Capital, Liquid Capital, Liquid Margin and Ratio" section of the Monthly Risk-Based Return required by Rule 9.2.3; and
(f)        the Market Participant includes the following details in the "Additional Comments" section of the Monthly Risk-Based Return required by Rule 9.2.3:
The following assets and liabilities have been netted for the purpose of calculating the amount included in the Excluded Asset "other prescribed asset" line of the "Core Capital, Liquid Capital, Liquid Margin and Ratio" section of the capital liquidity return.
           Asset—describe the nature of the asset/s $
        less Liability—describe the nature of the liability/s $( )
           Excluded Asset—other prescribed asset $ net amount
(2B) This subrule applies where the Market Participant:
(a)        has obtained written authorisation from ASIC for the purposes of this Rule;

(b)       has a documented, legally binding contract or agreement with the Counterparty to the liability that specifies that the liability cannot be enforced unless the asset is realised;

(c)        continues to report the asset and liability on a gross basis in the balance sheet section of the Monthly Risk-Based Return required by Rule 9.2.3;

(d)       reports the net amount as an Excluded Asset "other prescribed asset" in the "Core Capital, Liquid Capital, Liquid Margin and Ratio" section of the Monthly Risk-Based Return required by Rule 9.2.3; and

(e)        includes the following details in the "Additional Comments" section of the Monthly Risk-Based Return required by Rule 9.2.3:

The following assets and liabilities have been netted for the purpose of calculating the amount included in the Excluded Asset "other prescribed asset" line of the "Core Capital, Liquid Capital, Liquid Margin and Ratio" section of the capital liquidity return.
           Asset—describe the nature of the asset/s $
        less Liability—describe the nature of the liability/s $( )
           Excluded Asset—other prescribed asset $ net amount
(3) A Market Participant must treat the following amounts as Excluded Assets if they remain outstanding for greater than 31 calendar days:

(a)        underwriting fees;

(b)       fees due for managing a client portfolio;

(c)        corporate advisory fees; and

(d)       other sundry debtors.

S1A.2.5 Redeemable Preference Shares
(1) A Market Participant must not redeem any redeemable Preference Shares issued by it in whole or in part without the prior written approval of ASIC.
(2) ASIC will not withhold its approval under subrule (1) if in the opinion of ASIC the Market Participant's Liquid Capital divided by its Total Risk Requirement is capable of continuing to be greater than 1.2 on redemption.
(3) In forming an opinion as to whether a Market Participant is capable of continuing to meet the requirement in subrule (2), ASIC may consider matters such as:
(a)        the state of the overall market and