Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p40
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 40/49)
Character Range: 1082170–1084897

investment products or foreign passport fund products underlying the property register the property in the name of a nominee controlled by the financial services licensee, the financial services licensee must arrange for the body corporate to register the securities, managed investment products or foreign passport fund products in that way.
 (7) If:
 (a) none of subsections (3) to (6) applies; and
 (b) the property is not registered in the client's name by the body corporate that issued or made available the securities, managed investment products or foreign passport fund products underlying the property;
the financial services licensee must arrange to have the property registered in the client's name.
 (8) A financial services licensee must not deposit property as security for a loan or advance to the financial services licensee unless:
 (a) the client owes the financial services licensee an amount in connection with a transaction entered into by the financial services licensee on the client's behalf; and
 (b) the financial services licensee gives the client a written notice that identifies the property and states that the dealer proposes to deposit it as security for a loan or advance to the financial services licensee; and
 (c) the amount, or total of the amounts, that the client owes on the day of the deposit is at least the amount of the loan or advance.
 (9) If a financial services licensee deposits property as security for a loan or advance to the financial services licensee, in accordance with subregulation (8):
 (a) the financial services licensee must, not later than 1 business day after the amount, or total of the amounts, that the client owes on the day of the deposit are repaid, withdraw the property from that deposit; and
 (b) if, at the end of 3 months after the day of that deposit, or at the end of any subsequent interval of 3 months, the property has not been withdrawn from that deposit—the financial services licensee must give the client written notice of that fact.
 (10) In this regulation:
property includes scrip, but does not include money.

Division 4—Special provisions relating to insurance

7.8.08  Debts of financial services licensee in relation to premiums etc
 (1) Subregulations (2) to (4) apply if:
 (a) money is received by a financial services licensee:
 (i) from, or on behalf of, an insured or intending insured, or from another financial services licensee on behalf of an insured or intending insured; and
 (ii) as a premium or an instalment of a premium in connection with a contract of insurance or a proposed contract of insurance; and
 (b) the risk, or a part of the risk, to which the contract or proposed contract relates is accepted by or on behalf