How Part 7.5 regulated funds are to be kept
(1) Money in: (a) a fidelity fund that is the source, or a source, of funds under Division 3 arrangements; or (b) the NGF; must, until applied in paying claims or otherwise spent for the purposes of this Part, or invested in accordance with section 892C, be kept by the Part 7.5 authority in an account or accounts: (c) with an Australian ADI; or (d) of a kind prescribed by regulations made for the purposes of this paragraph; separate from any account or accounts in which other money is kept. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)). (2) The regulations may impose additional requirements to be complied with in relation to the keeping of a Part 7.5 regulated fund that covers 2 or more financial markets. (3) If: (a) a source of funds under Division 3 arrangements for a financial market is something other than a fidelity fund; and (b) the operator of the market, or a person involved in the administration of the arrangements, receives money from that source of funds; the money received must, until applied in paying claims or otherwise spent for the purposes of this Part, or invested in accordance with section 892C, be kept by the Part 7.5 authority in an account or accounts: (c) with an Australian ADI; or (d) of a kind prescribed by regulations made for the purposes of this paragraph; separate from any account or accounts in which other money is kept. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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