Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p21
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 54399–57198

it must, not later than the day after it receives the payment, pay the money received into an account maintained by it for this Rule.
(f)        Requirement to deposit additional monies in Clients' segregated account
(i)         Where five clear business days (inclusive of the day of the Call) after a Call has been made on a Client for Initial Margin or Variation Margin in accordance with the operating rules of the Market where the Futures Market Contract or Option Contract was acquired or entered into, or such Call should have been made in accordance with those operating rules, the Call which was or should have been made has not been satisfied by payment of monies into a Clients' segregated account or lodgement of Cover, then the Market Participant must pay into the Clients' segregated account an amount of money not less than either:
(A)      the liability of the Client under such a Call; or
(B)      the amount which the Market Participant would be obliged to Call the Client on the day after five clear business days (inclusive of the day of the Call) have elapsed,
(C)      whichever is the lesser.
(ii)       Subject to paragraph (f) such monies may only be withdrawn in accordance with paragraph (d) and only after such monies have been received by the Market Participant.
(iii)     The Market Participant must pay into the Clients' segregated account after five clear business days, any amount (which has not been met by the Client), which arises as a result of debit balances of a Client resulting from realised losses or otherwise.
(g)       Prohibited agreements
A Market Participant is prohibited from making any agreement with a Client that the Client's money is not to be held or does not need to be held in a segregated account for the benefit of the Client.
(h)       Permissible investments
Where a Market Participant invests money from a Clients' segregated account, the following kinds of investments may be made:
(i)         investment in any manner in which trustees are for the time being authorised by law to invest trust funds;
(ii)       investment on deposit with an eligible money market dealer;
(iii)     investment on deposit at interest with:
(A)      an Australian ADI; or
(B)      an Approved Foreign Bank;
(iv)      the acquisition of cash management trust interests;
(v)       investment in a security issued or guaranteed by the Commonwealth or a State or Territory;
(vi)      investment on deposit with a licensed clearing and settlement facility; or
(vii)    an investment in accordance with the specific direction of a Client.
(i)         Monies invested
Where a Market Participant invests money from a Clients' segregated account then:
(i)         the Market Participant must, prior to investing any amount, obtain the Client's written agreement to