Document ID: chunk:federal_register_of_legislation:C2025C00185:section:742:p10
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 742 (pt 10/24)
Character Range: 2927525–2930596

for financial markets
Division 1—Preliminary
880A Part does not apply to markets licensed under special provisions about overseas markets
880B Meaning of some terms relating to compensation regimes for financial markets
Division 2—When there must be a compensation regime
881A Licensed markets through which participants provide services for retail clients must generally have a compensation regime
881B Additional requirements for the licence application
881C What happens if an application contains information in accordance with paragraph 881B(2)(c)
881D What happens if an application contains a statement in accordance with paragraph 881B(2)(d)
Division 3—Approved compensation arrangements
Subdivision A—Approval of compensation arrangements
882A How to get compensation arrangements approved with grant of licence
882B How to get compensation arrangements approved after licence is granted
882C Revocation of approval
882D ASIC's power to give directions
Subdivision B—Effect of compensation rules forming part of Division 3 arrangements
883A Legal effect of compensation rules
883B Enforcement of compensation rules
883C Other sources of funds for compensation
883D Payment of levies
Subdivision C—Changing Division 3 arrangements
884A Division 3 arrangements must generally only be changed in accordance with this Subdivision
884B Changing Division 3 arrangements—matters required to be dealt with in the compensation rules
884C Changing Division 3 arrangements—matters not required to be dealt with in the compensation rules
Subdivision D—Are compensation arrangements adequate?
885A Purpose of this Subdivision
885B Requirements to be complied with for arrangements to be adequate
885C The losses to be covered
885D Certain losses that are not Division 3 losses
885E The amount of compensation
885F Method of payment of compensation
885G Making and determination of claims
885H The source of funds—general
885I Administration and monitoring
885J The losses to be covered—other matters to be taken into account
Subdivision E—Other provisions about Division 3 arrangements
886A Only one claim in respect of the same loss
886B Regulations relating to fidelity funds
Division 4—NGF Compensation regime
Subdivision A—Application of Division
887A Markets to which this Division applies
Subdivision B—Claims for and payment of compensation
888A The situations in which compensation may be claimed
888B Kinds of compensation available
888C Amount of compensation payable
888D Payment of compensation
888E Making and determination of claims
888F The SEGC has power to determine claims
888G Allowing a claim does not constitute an admission of any other liability
888H Claimant may apply to Court if claim disallowed
888I Non‑NGF property of the SEGC not available to meet claims
888J The SEGC may enter into contracts of insurance or indemnity
888K NGF may be used to acquire financial products to be transferred as compensation
Subdivision C—The NGF
889A Continuation of the National Guarantee Fund
889B Compensation to be provided out of the NGF
889C The SEGC to keep