Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p27
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 70630–73430

dollar amount of the Variation is more than, or less than, zero; and
 4.        where the movement in Total Futures Client Monies is greater than 20% from the last business day of the prior month, an explanation of the reason.
(4) Each reconciliation created for the purposes of this Rule must contain a statement signed by a director or a person authorised in writing by a director, stating that the signatory believes, and has no reason not to believe, that the reconciliation is accurate in all respects.

2.3.4 Obligation to notify ASIC about daily reconciliation
A Market Participant must notify ASIC, in writing, within two business days if:
(a)        a reconciliation required to be performed under Rule 2.3.2 has not been performed in accordance with Rule 2.3.2;
(b)       according to a reconciliation performed under Rule 2.3.2, Total Deposits is less than Total Third Party Client Monies; or
(c)        if it is unable to reconcile its clients' segregated accounts under Rule 2.3.2.

2.3.5 Annual declarations for clients' funds

(1) A Market Participant must prepare and give to ASIC within three months of the end of the financial year of the Market Participant:
(a)        a directors' declaration containing the information set out in Form 1 Part 1 of these Rules, authorised in the manner specified in subrule (2); and
(b)       an auditor's report containing the information set out in Form 1 Part 2 of these Rules, signed by a partner or director of the audit firm.

(2) For the purposes of this Rule, a directors' declaration must be authorised by:
(a)        two directors of the Market Participant whose names appear in the declaration; or
(b)       one director (first director) of the Market Participant and one representative of the Market Participant, whose names appear in the declarations, where the representative has been authorised by the board or by a director other than the first director.
(c)        two representatives of the Market Participant whose names appear in the declaration and who have been authorised by the board or each authorised by a different director of the Market Participant to give the declaration.

2.3.6 Scope of audits

(1) A Market Participant must give its auditor access to its premises and Employees and all records, documents, explanations and other information required by the auditor in respect of any audit conducted under paragraph 2.3.5(1)(b).

(2) A Market Participant must:
(a)        not impose any limitation on the extent of any audit required under paragraph 2.3.5(1)(b); and
(b)       permit and direct the auditor to notify ASIC immediately if any limitation is imposed on the auditor, or if the auditor is hindered or delayed in the performance of the auditor's duties.

(3) The records of each of the Market Participant's