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CORPORATIONS ACT 2001 - SECT 885D

Certain losses that are not Division 3 losses

  (1)   If, in relation to a loss suffered by a person:

  (a)   the requirements of subsection   885C(1) are satisfied in relation to a participant and 2 or more financial markets; and

  (b)   the person did not (expressly or impliedly) instruct the participant to use a particular one of those markets; and

  (c)   it is not reasonably apparent from the usual business practice of the participant which of those markets the participant would use when acting for the person;

the loss is taken not to be a Division   3 loss .

  (2)   If, in relation to a loss suffered by a person:

  (a)   the requirements of subsection   885C(1) are satisfied in relation to a participant and a financial market; and

  (b)   the loss is also connected (see section   888A) with a financial market to which Division   4 applies; and

  (c)   the person did not (expressly or impliedly) instruct the participant to use a particular one of those markets; and

  (d)   it is not reasonably apparent from the usual business practice of the participant which of those markets the participant would use when acting for the person;

the loss is taken not to be a Division   3 loss .

  (3)   If, in relation to a loss suffered by a person:

  (a)   the transaction referred to in paragraph   885C(1)(b) could have been effected otherwise than through a financial market; and

  (b)   the person did not (expressly or impliedly) instruct the participant concerned to effect the transaction through a financial market; and

  (c)   it is not reasonably apparent from the usual business practice of the participant that the transaction would be effected through a financial market;

the loss is taken not to be a Division   3 loss .



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