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CORPORATIONS REGULATIONS 2001 2001 No. 193 - REG 7.4.04A
Charging brokerage on principal transactions
- (1)
- Subsection 843 (4) of the Act has effect in relation to a dealer to
the extent that it does not prevent a dealer who is a member of a securities
exchange from charging a non-dealer brokerage, commission or any other fee in
respect of a transaction if the non-dealer has given to the dealer prior
authorisation to so charge the non-dealer in respect of any transaction
entered into by the dealer with the non-dealer.
- (2)
- For this regulation, an
authorisation given to a dealer by a non-dealer:
- (a)
- must be given orally,
or in writing, by the non-dealer; and
- (b)
- is effective until it is revoked, either orally or in writing, by the
non-dealer.
- (3)
- If a non-dealer gives an oral authorisation to a dealer, or revokes an
authorisation orally, the dealer must:
- (a)
- make a written record of the
authorisation or revocation; and
- (b)
- send a copy of the written record to the non-dealer.
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