Document ID: chunk:federal_register_of_legislation:F2023C00928:reg:8:p4
Version: federal_register_of_legislation:F2023C00928
Segment Type: reg
Provision Reference: reg 8 (pt 4/4)
Character Range: 10025–11958

Act for an offer to issue equitable rights or interests in securities to a person arising because of an offer to hold, or arrange for the holding of, the securities on behalf of the person as part of the MDA services provided by the MDA provider;
           (c) Part 7.9 of the Act in relation to a financial product that is:
(i) an interest in a managed investment scheme (other than a registered scheme) that is limited to a right to receive MDA services; or
(ii) a miscellaneous financial investment product that is limited to a right to receive MDA services; or
(iii) an equitable right or interest in a financial product arising because of a holding, or an offer to hold or arrange for the holding of, the financial product on behalf of a client as part of the MDA services provided by the MDA provider.
(2) The exemption in subsection (1) applies:
(a) to a MDA provider where the MDA services are provided by the provider;
(b) to an external MDA custodian where the custodian provides custodial or depository services in relation to the MDA services.
Exclusion
(3) The exemption in subsection (1) does not apply to a person if:
           (a) ASIC has given a notice in writing to the person stating that it may not rely on the exemption and has not withdrawn that notice in writing; or
           (b) 10 business days have elapsed since the person became or should reasonably have become aware of matters that give the person reason to believe that it has failed, other than in an immaterial respect, to comply with the following provisions of the Act (as notionally inserted by this instrument) without full particulars of the failure having been notified to ASIC (to the extent that the person knows those particulars or would have known them if they had undertaken reasonable enquiries):
(i) in the case of a MDA provider— sections 912AEA to 912AEG;
(ii) in the case of an external MDA custodian— sections 912AFA to 912AFE.