Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_12bab:p3
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 12BAB (pt 3/4)
Character Range: 838178–840839

(d) the provision of services to a related body corporate;
 (e) any other conduct of a kind prescribed by regulations made for the purposes of this paragraph.

Meaning of financial market

 (15) For the purposes of this section, a financial market is a facility through which:
 (a) offers to acquire or dispose of financial products are regularly made or accepted; or
 (b) offers or invitations are regularly made to acquire or dispose of financial products that are intended to result or may reasonably be expected to result, directly or indirectly, in:
 (i) the making of offers to acquire or dispose of financial products; or
 (ii) the acceptance of such offers.

 (16) However, the following conduct does not constitute operating a financial market for the purposes of this section:
 (a) a person making or accepting offers or invitations to acquire or dispose of financial products on the person's own behalf, or on behalf of one party to the transaction only;
 (b) conducting treasury operations between related bodies corporate;
 (c) conducting an auction of forfeited shares;
 (d) any other conduct of a kind prescribed by regulations made for the purposes of this paragraph.

Meaning of clearing and settlement facility

 (17) For the purposes of this section, a clearing and settlement facility is a facility that provides a regular mechanism for the parties to transactions relating to financial products to meet obligations to each other that:
 (a) arise from entering into the transactions; and
 (b) are of a kind prescribed by regulations made for the purposes of this paragraph.

 (18) However, the following conduct does not constitute operating a clearing and settlement facility for the purposes of this section:
 (a) an ADI (within the meaning of the Banking Act 1959) acting in the ordinary course of its banking business;
 (b) a person acting on their own behalf, or on behalf of one party to a transaction only;
 (c) a person who provides financial services to another person dealing with the other person's accounts in the ordinary course of the first person's business activities;
 (d) the actions of a participant in a clearing and settlement facility who has taken on the delivery or payment obligations, in relation to a particular financial product, of another person who is a party to a transaction relating to a financial product;
 (e) conducting treasury operations between related bodies corporate;
 (h) operating a facility for the exchange and settlement of non‑cash payments between providers of non‑cash payment facilities;
 (i) any other conduct of a kind prescribed by regulations made for the purposes of this paragraph.