Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p20
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 51863–54653

of another broker), a House Account and Client Account are to be maintained separately at all levels in the chain to the clearing and settlement facility level.
(iv)      A Market Participant must not net off the Client Account against the House Account.
(b)       Type of money to be paid into an account
Only the following monies are permitted to be paid into a Clients' segregated account:
(i)         all money received by the Market Participant from its Client or by a person acting on behalf of its Client;
(ii)       interest on the amount from time to time standing to the credit of the account;
(iii)     interest or other similar payments on an investment, and the proceeds of the realisation of an investment; and
(iv)      any other money as required by the Rules or operating rules of a Market or the law to be paid by the Market Participant into a Clients' segregated account.
(c)        When money must be paid into an account
The money must be paid into a Clients' segregated account on the day it is received by the Market Participant, or on the next business day.
(d)       Permitted withdrawal
Withdrawals from a Clients' segregated account made in any of the following circumstances are permissible:
(i)         paying Margins and the settling of dealings;
(ii)       making a payment to, or in accordance with the written direction of, a person entitled to the money;
(iii)     defraying brokerage and other proper charges;
(iv)      paying to the Market Participant money to which the Market Participant is entitled, whether at law or under the Rules or under the operating rules of the Market where the Futures Market Contract or Option Contract was acquired, entered into or disposed of for the Client; and
(v)       making a payment that is otherwise authorised by law.
(e)        Payment to another Australian financial services licensee
(i)         If payment referred to in subparagraph (ii) is made by a Market Participant to the holder of an Australian financial services licence, the Market Participant must ensure that Australian financial services licensee is notified, at the same time as the payment is made or as soon as practicable after, that the money:
(A)      has been withdrawn from an account of the Market Participant maintained for this Rule; and
(B)      should be paid into an account of the Australian financial services licensee maintained for this Rule.
(ii)       If the Australian financial services licensee who receives the payment in subparagraph (i) is also a Market Participant, it must, not later than the day after it receives the payment, pay the money received into an account maintained by it for this Rule.
(f)        Requirement to deposit additional monies in Clients' segregated account
(i)         Where five clear business