Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1020b:p2
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1020B (pt 2/3)
Character Range: 642479–645022

is conditional only upon all or any of the following:
 (i) payment of the consideration in respect of the purchase;
 (ii) the receipt by the person of a proper instrument of transfer in respect of the products;
 (iii) the receipt by the person of the documents that are, or are documents of title to, the products; or
 (d) a sale of section 1020B products in the following circumstances:
 (i) the person who sold the products is not an associate of the body corporate that issued the products; and
 (ii) arrangements are made before the time of the sale that will enable delivery of products of the class sold to be made to the buyer within 3 business days after the date of the transaction effecting the sale; and
 (iii) if the sale is made on a licensed market:
 (A) the price per unit in respect of the sale is not below the price at which the immediately preceding ordinary sale was effected; and
 (B) the price per unit is above the price at which the immediately preceding ordinary sale was made, unless the price at which the immediately preceding ordinary sale was made was higher than the next preceding different price at which an ordinary sale had been made;
  and the operator of the market is informed as soon as practicable that the sale has been made short in accordance with this subparagraph; or
 (e) a sale of section 1020B products in the following circumstances:
 (i) the products are included in a class of products in relation to which there is in force a declaration, made by the operator of a licensed market as provided by the operating rules of the market, to the effect that the class is a class of products to which this paragraph applies; and
 (ii) the sale is made as provided by the operating rules of the market; and
 (iii) at the time of the sale, neither the person who sold the products, nor any person on behalf of whom the first‑mentioned person sold the products, was an associate, in relation to the sale, of the body corporate that issued the products.

Note: A defendant bears an evidential burden in relation to the matters in this subsection. See subsection 13.3(3) of the Criminal Code.

 (5) A person who requests a financial services licensee to make a sale of section 1020B products that would contravene subsection (2) but for paragraph (4)(b), (d) or (e) must, when making the request, inform the licensee that the sale is a short sale.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).

 (6) If:
 (a) a person who, through a licensed market, makes a sale of