Document ID: chunk:federal_register_of_legislation:F2016L01503:body:0:p2
Version: federal_register_of_legislation:F2016L01503
Segment Type: other
Provision Reference: 
Character Range: 2786–3957

a debenture.
(2) Austraclear Limited, participants and non-participants do not have to comply with Chapter 2L and Parts 6D.2 and 6D.3 of the Act in relation to any offer of dematerialised securities for issue or sale, and any issue or sale of dematerialised securities, that occurs in the course of:
           (a) the trading by participants in dematerialised securities that are deposited into the clearing and settlement facility operated by Austraclear Limited;
(b) the drawing by non-participants of dematerialised securities of the kind mentioned in paragraph (b) of the definition of dematerialised security that are deposited into the clearing and settlement facility operated by Austraclear Limited and accepted by members of Austraclear Limited.
(3) Dematerialised securities are exempt from Divisions 2 and 3 of Part 7.11 of the Act.

6 Operation of a clearing and settlement facility for dematerialised securities
    To avoid doubt, Austraclear Limited does not have to comply with Chapter 5C of the Act in relation to the operation of the clearing and settlement facility for dematerialised securities in accordance with the operating rules of the facility.