Document ID: chunk:federal_register_of_legislation:F2020L01338:body:0:p4
Version: federal_register_of_legislation:F2020L01338
Segment Type: other
Provision Reference: 
Character Range: 7891–10779

subsections 7(2) to (5).
(4) A person who carries on a business of arranging for persons to apply for, or acquire, CFDs must not arrange for a retail client to apply for, or acquire, a CFD from a CFD issuer except in accordance with the conditions specified in subsections 7(2) to (5).
Application of conditional prohibitions
(5)  Subsections (1) to (4) apply on and from 29 March 2021.
(6)  Subsection (1) applies only if one or both of the following apply:
           (a)  the CFD issuer is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii)  an Australian citizen; or
              (iii)  ordinarily resident in Australia;
           (b)  the issue of the CFD occurs in this jurisdiction, or an offer to issue the CFD, or to apply for the issue of the CFD, is received in this jurisdiction.
(7)  Subsection (2) applies only if one or both of the following apply:
           (a)  the person who carries on a business of arranging for the issue of CFDs is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii)  an Australian citizen; or
              (iii)  ordinarily resident in Australia;
           (b)  the arranging for the issue of the CFD takes place in circumstances where:
              (i)  the issue of the CFD occurs in this jurisdiction; or
              (ii)  an offer to issue the CFD or to apply for the issue of the CFD is received in this jurisdiction.
(8)  Subsection (3) applies only if one or both of the following apply:
           (a)  the person who carries on a business of applying for, or acquiring, CFDs as an agent is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii)  an Australian citizen; or
              (iii)  ordinarily resident in Australia;
           (b)  the applying for, or acquiring, the CFD on behalf of the retail client takes place in circumstances where:
              (i)  the issue of the CFD occurs in this jurisdiction; or
              (ii)  an offer to issue the CFD or to apply for the issue of the CFD is received in this jurisdiction.
(9)  Subsection (4) applies only if one or both of the following apply:
           (a)  the person who carries on a business of arranging for persons to apply for, or acquire, CFDs is:
              (i)  a body corporate incorporated or carrying on business in Australia; or
              (ii)  an Australian citizen; or
              (iii)  ordinarily resident in Australia;
           (b)  the arranging for the retail client to apply for or acquire the CFD takes place in circumstances where:
              (i)  the issue of the CFD occurs in this jurisdiction; or
              (ii)  an offer to issue the CFD or to apply for the issue of the CFD is received in this jurisdiction.

       Note 1: The application of