Document ID: chunk:federal_register_of_legislation:F2023C00208:reg:17:p8
Version: federal_register_of_legislation:F2023C00208
Segment Type: reg
Provision Reference: reg 17 (pt 8/14)
Character Range: 19513–22137

on each subsequent reporting day as long as the holder has a short position.
            (6D) Paragraph (6C)(c) applies whether or not the particulars about the short position have changed from that given on the previous day.
            (6E)  The option holder does not have to comply with subsection (6B) in relation to that short position if the holder:
                (a) is required by subsection 1020AB(3) to give particulars of the holder's short position on a day in relation to a security or product that is in the same class as the shorted product; or
                (b) has a short position in relation to the shorted product on a day that does not exceed the value limit and the volume limit on the day.".

8 Exchange traded options: other scenarios
(1) A person does not have to comply with subsection 1020B(2) of the Act in relation to a sale of section 1020B products that is done by issuing or selling an exchange traded option on a financial market.
(2) A person does not have to comply with subsection 1020B(2) of the Act in relation to a sale of unobtained section 1020B products if the person (or, where the person is selling as an agent, the principal) is, at the time of the sale, able to obtain at least the number of section 1020B products of the same class as the unobtained section 1020B products by exercising exchange traded options.
(3) For the purposes of subsection (2):
           (a) the number of section 1020B products of a class that a person is able to obtain at the time of a sale is to be calculated according to the following formula:
              FPIO – FPSO – PS
           where:
FPIO (Financial Products Immediately Obtainable) means the number of section 1020B products of the class that, at the time of the sale, the person is able to obtain by exercising exchange traded options at a price:
(a) that does not exceed the sale price payable to the person under the sale; or
(b) that exceeds the sale price by an amount that is no more than an amount deposited by the person with:
(i) ASX Clear Pty Limited; or
(ii) ASX Clear (Futures) Pty Limited;
              before and in relation to the sale;
FPSO (Financial Products Subject to Options) means the number of section 102B products of the class sold over which the person has issued exchange traded options which would oblige the person to deliver the products if the options were exercised and that, at the time of sale, have not expired or been exercised;
PS (unobtained financial products Previously Sold) means the number of unobtained section 1020B products previously sold in sales that have not been completed at the