Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p123
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 123/148)
Character Range: 640355–643305

relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.
 (3A) For Subdivision 4.3, if:
 (a) a participant of Australian Stock Exchange Limited (the transacting participant) enters into a reportable transaction; and
 (b) under the operating rules of Australian Stock Exchange Limited or ACH, a participant of the licensed CS facility operated by ACH (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulations 7.5.24 to 7.5.27 (inclusive) apply in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.
 (4) For Subdivision 4.9, if:
 (a) a participant of the licensed CS facility operated by ACH (the transacting member) enters into a reportable transaction; and
 (b) under the operating rules of ACH, another participant (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulation 7.5.66 applies in relation to the function of completing the transaction as if the clearing participant, and not the transacting participant, had entered into the transaction.
 (5) For Subdivision 4.9, if:
 (a) a participant of Australian Stock Exchange Limited (the transacting participant) enters into a reportable transaction; and
 (b) under the operating rules of Australian Stock Exchange Limited or ACH, a participant of the licensed CS facility operated by ACH (the clearing participant) has the obligation to complete the transaction and all obligations ancillary to that completion;
regulation 7.5.66 applies in relation to the function of completing the transaction, as if the clearing participant, and not the transacting participant, had entered into the transaction.

Subdivision 4.3—Contract guarantees

7.5.24  Claim by selling client in respect of default by selling dealer: ASTC‑regulated transfer
 (1) This regulation applies to a person (the selling client) if:
 (a) a dealer enters into a reportable transaction on behalf of the selling client; and
 (b) the reportable transaction is a sale of securities; and
 (c) a transfer of the securities concerned pursuant to the sale would be an ASTC‑regulated transfer; and
 (d) at the end of the prescribed period for the transaction:
 (i) if subparagraph (ii) does not apply—the selling client has done all things necessary to enable the dealer to do all things that the dealer is required to do under the operating rules of a participating market licensee or ACH to effect a transfer of the securities pursuant to the sale; and
 (ii) the dealer has been suspended by the participating market licensee concerned or ACH, that suspension has not been removed and the selling client has done, or is ready, willing and able to do, all things necessary