Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:7:p10
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 7 (pt 10/39)
Character Range: 1127647–1130433

corporate or a related body corporate:
 (i) service of process; or
 (ii) any notices required to be served on the body corporate or related body corporate.

Division 7—Other rules about conduct

7.8.17  Priority to clients' orders
 (1) For paragraph 991B(3)(b) of the Act, if a participant in a licensed market:
 (a) enters into a transaction; and
 (b) complies with all of the participant's obligations in relation to the transaction under the market integrity rules and the operating rules of the licensed market;
subsection 991B(2) of the Act does not apply in relation to the transaction.
 (2) Subject to subregulation (3), for paragraph 991B(3)(b) of the Act, subsection 991B(2) of the Act does not apply to a transaction if, at the time that the instruction is issued, the financial services licensee is not a participant in the licensed market on which the particular financial product is being traded.
 (3) Subregulation (2) does not apply if:
 (a) the financial services licensee deals, or has dealt, in a financial product traded on that market:
 (i) on the licencee's own behalf (whether directly or through an agent or other representative); or
 (ii) on behalf of a client; or
 (b) an associate of the financial services licensee is a participant in the market mentioned in that subregulation.

7.8.18  Instructions to deal through licensed markets
 (1) For section 991C of the Act, this regulation applies in relation to all instructions received by a financial services licensee to deal in financial products through licensed markets, except to the extent that the market integrity rules, or the operating rules of a licensed market in relation to which the financial services licensee is a participant, otherwise provide.
 (2) Subject to subregulation (3), the financial services licensee must transmit, in the sequence in which they are received, all instructions to deal in a class of financial products at or near the market price for financial products of that class prevailing immediately before execution of the instructions.
 (3) If:
 (a) a financial services licensee proposes to deal in a class of financial products on the financial services licensee's own account; and
 (b) the person by whom or on whose instructions the instructions for the dealing are to be transmitted is aware of instructions of a client of the financial services licensee to deal in that class of financial products at or near the market price for a financial product of that class prevailing at that time (being instructions that have not been transmitted);
that person must not transmit, and must not give instructions to any other person to transmit, the instructions to give effect to the proposal of the financial services licensee to deal in that class of financial products before