Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:2:p4
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 2 (pt 4/22)
Character Range: 441997–445040

with the provision.

"(2) The Court may not make an order giving directions to a person unless the person has been given an opportunity of being heard.

Qualified privilege in respect of disciplinary proceedings

"779H.(1) The securities clearing house, or a member, officer or employee of the securities clearing house, or an SCH participant, has qualified privilege in respect of a statement made by a person, orally or in writing, in the course of, or otherwise for the purposes of or in

connection with, a disciplinary proceeding of the securities clearing house.

"(2) A person has qualified privilege in respect of the publication of:

    (a)     a statement made by a person, orally or in writing, in the course of, or otherwise for the purposes of or in connection with; or

    (b)     a document prepared, given or produced by a person, in the course of, or otherwise for the purposes of or in connection with;

a disciplinary proceeding of the securities clearing house.

Provision of settlement facilities not a securities business etc.

"779J.(1) Nothing that the securities clearing house does in the course of, or in connection with, providing facilities for the settlement of transactions constitutes, for the purposes of this Law:

   (a)     a securities business; or

   (b)     an offer of securities for subscription or purchase; or

   (c)     an invitation to subscribe for or buy securities.

"(2) The securities clearing house does not, for the purposes of this Law, have a relevant interest in a share or a security merely because of its provision of facilities for the settlement of transactions.".

Interpretation

  129. Section 920 of the Corporations Law is amended:

     (a)     by omitting "participating exchange" (wherever occurring) from the definition of "clearing nominee" in subsection (1) and substituting "settlement authority";

     (b)    by inserting ", under the SCH business rules" after "rules" in the definition of "obligations" in subsection (1);

     (c)     by omitting "quoted securities, where:" from the definition of "reportable transaction" in subsection (1) and substituting "securities, where the securities are quoted on a stock market of a participating exchange or of an Exchange subsidiary when the agreement for the sale or purchase is made and:";

     (d)    by omitting "participating exchange" from the definition of "TDS nominee" in subsection (1) and substituting "settlement authority";

     (e)     by omitting "participating exchange" (wherever occurring) from the definition of "transfer delivery service provisions" in subsection (1) and substituting "settlement authority";

     (f)      by omitting from subsection (1) the definition of "quoted securities";

   (g)     by inserting in subsection (1) the following definition:

     " 'settlement authority' means a participating exchange or the securities clearing house;".

Transfer of securities etc. and payment of money

130. Section 924 of the Corporations Law is amended by omitting subsection (2) and