Document ID: chunk:federal_register_of_legislation:C2025C00185:section:885d
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 885D
Character Range: 3463256–3464949

885D  Certain losses that are not Division 3 losses
 (1) If, in relation to a loss suffered by a person:
 (a) the requirements of subsection 885C(1) are satisfied in relation to a participant and 2 or more financial markets; and
 (b) the person did not (expressly or impliedly) instruct the participant to use a particular one of those markets; and
 (c) it is not reasonably apparent from the usual business practice of the participant which of those markets the participant would use when acting for the person;
the loss is taken not to be a Division 3 loss.
 (2) If, in relation to a loss suffered by a person:
 (a) the requirements of subsection 885C(1) are satisfied in relation to a participant and a financial market; and
 (b) the loss is also connected (see section 888A) with a financial market to which Division 4 applies; and
 (c) the person did not (expressly or impliedly) instruct the participant to use a particular one of those markets; and
 (d) it is not reasonably apparent from the usual business practice of the participant which of those markets the participant would use when acting for the person;
the loss is taken not to be a Division 3 loss.
 (3) If, in relation to a loss suffered by a person:
 (a) the transaction referred to in paragraph 885C(1)(b) could have been effected otherwise than through a financial market; and
 (b) the person did not (expressly or impliedly) instruct the participant concerned to effect the transaction through a financial market; and
 (c) it is not reasonably apparent from the usual business practice of the participant that the transaction would be effected through a financial market;
the loss is taken not to be a Division 3 loss.