Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p1
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 1/5)
Character Range: 1455598–1458335

3         paragraph 1020G(1)(a)  Part 7.9

7.9.98A  Exemption from application of Part 7.9 of the Act
  For paragraph 1020G(1)(a) of the Act, Part 7.9 of the Act does not apply to a person to the extent that the person is:
 (a) issuing or selling:
 (i) a litigation funding scheme mentioned in regulation 5C.11.01; or
 (ii) a litigation funding arrangement mentioned in regulation 5C.11.01; or
 (b) making a recommendation to acquire:
 (i) a litigation funding scheme mentioned in regulation 5C.11.01; or
 (ii) a litigation funding arrangement mentioned in regulation 5C.11.01; or
 (c) making an offer relating to the issue or sale of:
 (i) a litigation funding scheme mentioned in regulation 5C.11.01; or
 (ii) a litigation funding arrangement mentioned in regulation 5C.11.01; or
 (d) advertising:
 (i) a litigation funding scheme mentioned in regulation 5C.11.01; or
 (ii) a litigation funding arrangement mentioned in regulation 5C.11.01.

Division 15—Disclosure in relation to short sales covered by securities lending arrangement of listed section 1020B products

7.9.99  Interpretation
 (1) In this Division:
reporting day, in relation to a short position, means a day on which the Sydney office of ASIC is open for business.

Meaning of short position
 (2) In this Division, a short position is a position in relation to a section 1020B product in a listed entity where the quantity of the product which a person has is less than the quantity of the product which the person has an obligation to deliver.
 (3) In subregulation (2), the person has the product if:
 (a) the person is holding the product on the person's own behalf; or
 (b) another person is holding the product on the person's behalf; or
 (c) the person has entered into an agreement to buy the product but has not received it; or
 (d) the person has vested title in the product in a borrower, or in an entity nominated by the borrower, under a securities lending arrangement.
 (4) In subregulation (2), the product which the person has an obligation to deliver is the product which the person:
 (a) has an obligation to deliver under a sale agreement where the product has not been delivered; or
 (b) has an obligation to vest title in a lender under a securities lending arrangement; or
 (c) has any other non‑contingent legal obligation to deliver.

References to time
 (5) A reference in this Division to a time is a reference to the legal time in Sydney, New South Wales.

7.9.100  Seller disclosure
 (1) For paragraph 1020AB(3)(a) of the Act, the particulars that a seller must give in relation to a sale of a listed section 1020B product where the seller has a presently exercisable and unconditional right to vest the product in a buyer under a securities