Document ID: chunk:federal_register_of_legislation:C2023A00076:clause:5_8
Version: federal_register_of_legislation:C2023A00076
Segment Type: clause
Provision Reference: sch 5 cl 8
Character Range: 305521–306226

8  After subsection 609(3)
Insert:

Disposal of securities by financial services licensees
 (3A) A financial services licensee does not have a relevant interest in securities merely because, in the ordinary course of the licensee's financial services business, a person specifically instructs the licensee to:
 (a) dispose of the securities on behalf of the person; or
 (b) enter into a position on behalf of the person under which the licensee has an obligation to make delivery of the securities by dealing in:
 (i) a warrant within the meaning of the regulations; or
 (ii) a financial product that, but for the product not being transferable, would be a warrant within the meaning of the regulations.