Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 891

891. (1) Where a stock exchange receives a deposit from a person or
partnership under a condition existing by virtue of section 889, the stock
exchange holds the deposit in trust for the person or partnership and shall
invest the deposit:

   (a)  on interest-bearing term deposit with an Australian bank; or

   (b)  on deposit with an eligible money market dealer.

(2) A participating exchange shall pay into the Fund money received by way of
interest in respect of amounts invested by it under subsection (1).

(3) A stock exchange (other than a participating exchange) shall pay money
received by way of interest in respect of amounts invested by it under
subsection (1) into its fidelity fund.

(4) A stock exchange shall, on demand being made by a person or partnership
who has lodged a deposit with the stock exchange, pay to the person or
partnership an amount on deposit with the stock exchange under a condition
existing by virtue of section 889.

(5) Nothing in subsection (4) affects a condition existing by virtue of
section 889.

(6) It is a condition of a licence that where the licensee, or a partnership
in which the licensee is a partner, receives an amount under subsection (4)
from a stock exchange, the licensee or partnership, as the case may be, shall
pay the amount into a trust account of the licensee or partnership, as the
case may be.

(7) The Fund shall guarantee the repayment by a participating exchange of the
amount of a deposit received by the participating exchange from a person or
partnership.

(8) The fidelity fund of a stock exchange (other than a participating
exchange) shall guarantee the repayment by the stock exchange of the amount of
a deposit received by the stock exchange from a person or partnership.