ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152
1ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152
Start here
Get a plain-English read of 1
Turn the raw legal text into a practical explanation grounded in ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152.
Commonwealth Coat of Arms and ASIC logo
ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152
About this compilation
Compilation No. 1
This is a compilation of ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152 as in force on 18 January 2023. It includes any commenced amendment affecting the legislative instrument to that date.
This compilation was prepared by the Australian Securities and Investments Commission.
The notes at the end of this compilation (the endnotes) include information
about amending instruments and the amendment history of each amended provision.
Contents
1 Name of legislative instrument
5 Relief from holding client money in an account with an Australian ADI
Part 1—Preliminary
1 Name of legislative instrument
This instrument is ASIC Corporations (NZD Denominated Client Money) Instrument 2018/152.
3 Authority
This instrument is made under paragraph 992B(1)(c) of the Corporations Act 2001.
4 Definitions
In this instrument:
Act means the Corporations Act 2001.
ASX 24 market means the licensed market operated by Australian Securities Exchange Limited (ACN 000 943 377).
Part 2—Declaration
5 Relief from holding client money in an account with an Australian ADI
Part 7.8 of the Act applies in relation to an Australian financial services licensee that is a participant of the ASX 24 market as if section 981B were modified or varied by:
(a) after subparagraph 981B(1)(a)(ii), inserting:
“or
(iii) if the money is ASX 24 NZD futures contract money or ASX NZD OTC clearing derivative money—with a bank that is incorporated in New Zealand and prudentially regulated by the Reserve Bank of New Zealand;”; and
(b) after subsection 981B(2), inserting:
“(3) In this section:
ASX 24 NZD futures contract means a New Zealand dollar-denominated futures contract quoted on the licensed market operated by Australian Securities Exchange Limited (ACN 000 943 377).