Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:2:p1
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 2 (pt 1/22)
Character Range: 434064–437145

Schedule 2

125. The Acts specified in Schedule 2 are amended as set out in that Schedule.

          PART 5—IMPLEMENTING THE CLEARING HOUSE SUBREGISTER SYSTEM

Dictionary

  126. Section 9 of the Corporations Law is amended:

     (a) by adding at the end of the definition of "document" the following note:

         "Note: In Division 3 of Part 7.13. 'document' has a meaning affected by the definition of 'document' in subsection 1097(1).";

     (b) by adding at the end of the definition of "prospectus" the following note:

         "Note: A written notice or instrument issued by the securities clearing house will not generally constitute a prospectus—see subsection 779J(1).":

     (c) by adding at the end of the definition of "relevant interest" the following note:

         "Note: The activities of the securities clearing house will not generally give rise to a relevant interest—see subsection 779J(2).";

     (d) by adding at the end of the definition of "securities business" the following note:

         "Note: The activities of the securities clearing house will not generally constitute a securities business—see subsection 779J(1).":

   (e) by inserting the following definitions:

     "'proper SCH transfer' means:

         (a)     an SCH-regulated transfer of a quoted security or quoted right effected in accordance with the SCH business rules; or

         (b)     a transfer that is taken by section 1097D to be a proper SCH transfer;

     'quoted right' has the meaning given by section 1097A;

        Note: The meaning of 'quoted right' may be extended by the SCH business rules (under section 1097B) or by a Commission declaration (under section 1097C).

     'quoted security' has the meaning given by section 1097A;

        Note: The meaning of 'quoted security' may be extended by the SCH business rules (under section 1097B) or by a Commission declaration (under section 1097C).

     'SCH' is short for securities clearing house;

     'SCH business rules' means the business rules (within the meaning of Chapter7) of the securities clearing house;

     'SCH participant' means a person who, or a partnership that, under the SCH business rules, is entitled to participate in the facilities provided by the securities clearing house;

     'SCH-regulated transfer' means a transfer (within the meaning of Division 3 of Part 7.13) of a quoted security or a quoted right that, according to the SCH business rules, is an SCH-regulated transfer;

     'securities clearing house' means the body corporate in relation to which an approval under section 779B is in force;".

Application not to be granted unless applications also made under corresponding laws

127.     Section 102A of the Corporations Law is amended by inserting in subsection (3) "779B," after "770,".

128.     The Corporations Law is amended by inserting after section 779 the following Part:

"PART 7.2A—THE SECURITIES CLEARING HOUSE

Interpretation

"779A. In this Part, unless the contrary intention appears:

'disciplinary proceeding', in relation to the securities