Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1017f
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1017F
Character Range: 616447–618083

1017F  Confirming transactions

Transactions to which this section applies

 (1) This section applies in relation to a transaction involving a financial product if:
 (a) a person (the holder) acquired the product as a retail client; and
 (b) the transaction is:
 (i) the transaction by which the holder acquired the product; or
 (ii) a transaction that occurs while the holder holds the product, including a transaction by which the holder disposes of all or part of the product (and see also subsection (3)); and
 (c) the transaction is not one that does not require confirmation because of subsection (4); and
 (d) the holder has not, in accordance with regulations made for the purposes of paragraph (9)(d), waived their right to be provided with confirmation of the transaction; and
 (e) either:
 (i) the financial product was offered to, or acquired by, the holder in this jurisdiction; or
 (ii) the transaction takes place in this jurisdiction.

Note: This section extends to financial products that are securities (see section 1010A).

Obligation to confirm transactions

 (2) The person (the responsible person) specified in column 3 of an item in the following table must provide the holder with confirmation of the transaction specified in column 2 of the same item. The confirmation must be provided in accordance with subsections (5) to (8).

Who bears the obligation to confirm a transaction
Item                                               Transaction                                                                                                                                                     Whose obligation?