Document ID: chunk:federal_register_of_legislation:F2024C00757:reg:1:p16
Version: federal_register_of_legislation:F2024C00757
Segment Type: reg
Provision Reference: reg 1 (pt 16/22)
Character Range: 85990–88860

of deposits where the balance of the deposit account is payable on demand and discretionary decisions relating to buying or selling foreign currency.
    custodian means a person (other than a client) that holds property to which an IDPS relates.
    Note: The custodian may also be an operator of the IDPS.
    defective:
    (a) in relation to a Product Disclosure Statement—has the same meaning as in section 1021B; and
    (b) in relation to a disclosure document—means a disclosure document in relation to which a person offering securities under the disclosure document must not issue securities or must deal under subsection 724(2) with any applications for securities made under the disclosure document that have not resulted in an issue or transfer of the securities; and
    (c) in relation to a CSF offer document—has the same meaning as in section 738U.
    distribution reinvestment plan means a written arrangement between an operator and a client to the effect that the client instructs the operator to:
    (a) reinvest distributions from specified accessible investments held through the IDPS by the client in some or all of the accessible investments held through the IDPS by the client; and
    (b) carry out the reinvestment of distributions referred to in paragraph (a) according to an agreed method;
    where before entering into the arrangement the client has been given an IDPS Guide containing a statement to the effect that the client may not have:
    (c) the current Product Disclosure Statement for an accessible financial product held through the IDPS; or
    (d) the current disclosure document for accessible securities held through the IDPS;
    at the time an additional holding of the accessible financial product or accessible securities is acquired under the distribution reinvestment plan.
    eligible agent, in relation to a person who is a client of an IDPS, means an agent of the person, other than an operator of the IDPS or an associate of the operator, who is authorised under an eligible agreement.
    eligible agreement, in relation to an eligible agent, means a written agreement between the person and the agent which authorises the agent to receive a document on the person's behalf in relation to the IDPS.
    financial assets has the same meaning as that term has in paragraph 11 of Accounting Standard AASB 132 Financial Instruments: Presentation as in force on the day this instrument is made.
    IDPS means a scheme under which an investor directed portfolio service, consisting of a number of functions including a custody, settlement and reporting system and service with the following features is provided:
       (a) the clients of the investor directed portfolio service have the sole discretion to decide what (but not necessarily when) assets will be acquired or disposed of, except where:
           (i)