Document ID: chunk:federal_register_of_legislation:F2023C00827:reg:2:p8
Version: federal_register_of_legislation:F2023C00827
Segment Type: reg
Provision Reference: reg 2 (pt 8/10)
Character Range: 19655–22483

in France;
           Note:  By subsection 761H(1) of the Act, the operation of this instrument in relation to partnerships is affected by section 761F and subsection 769B(4) of the Act.
 (c)  the foreign company carries on business in France.
(2) In this section:
ACPR means Autorité de contrôle prudentiel et de resolution of France.

17 Meaning of Ontario OSC regulated financial service provider
(1) For the purposes of this instrument, a Ontario OSC regulated financial service provider is a foreign company to which the following apply:
(a)  the foreign company has a current registration granted by the Ontario Securities Commission as an Investment Fund Manager and Portfolio Manager pursuant to the Securities Act;
(b)  the foreign company is either a body corporate incorporated in Ontario, Canada or a partnership formed in Ontario, Canada;
           Note:  By subsection 761H(1) of the Act, the operation of this instrument in relation to partnerships is affected by section 761F and subsection 769B(4) of the Act.
 (c)  the foreign company carries on business in Ontario, Canada.
(2) In this section:
Securities Act means the Securities Act, R.S.O. 1990, c.S.5 of Ontario, Canada.

       Part 2—Exemption

18 Exemption from certain requirements of Chapter 7 of the Act
(1) An eligible body does not have to comply with any of the following in relation to the provision of a wholesale financial service:
(a) paragraph 912A(1)(b) of the Act to the extent that it requires the eligible body to comply with paragraphs 7.6.04(1)(a) and (d) of the Regulations;
(b) paragraphs 912A(1)(d) to (f) of the Act;
(c) sections 912AAC and 912AAD of the Act (as notionally inserted by ASIC Class Order [CO 13/1410]);
(d) section 912AC of the Act (as notionally inserted by ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648);
(e) section 1017E of the Act.
           Note:  Some eligible bodies may also be able to rely on the financial reporting and record keeping relief in ASIC Corporations (Foreign Licensees and ADIs) Instrument 2016/186.
(2)  An eligible body and an employee of an eligible body do not have to comply with section 991F of the Act if the eligible body is only carrying on a financial services business in this jurisdiction because it carries on a business of providing wholesale financial services in this jurisdiction.

19 Conditions
    An eligible body that relies on an exemption in section 18 must:
 (a)  unless the eligible body is a company—have an agent appointed at the time the eligible body first purports to rely on this instrument and not fail to have an agent for any consecutive period of 10 business days; and
           Note: A US Federal Reserve and OCC regulated financial service provider may be a company.
(b) reasonably believe