Section 981M — Corporations Act 2001 (Cth)

(1) Financial services licensees must comply with the client money reporting rules.

Note: This subsection is a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see section 1317S.

(2) If there is an inconsistency between the client money reporting rules, and any of the following other rules:

(a) the market integrity rules;

(b) the derivative transaction rules;

(c) the derivative trade repository rules;

those other rules prevail to the extent of the inconsistency.

Note: If there is an inconsistency between the client money reporting rules and the operating rules of a licensed market or of a licensed CS facility, the client money reporting rules prevail: see subsections 793B(2) and 822B(2).

Related sections

• s 981J — Client money reporting rules
• s 981K — Matters that may be dealt with in client money reporting rules
• s 981L — ASIC to consult before making rules
• s 981N — Alternatives to civil proceedings
• s 981P — Compliance with requirements to provide data or other information to ASIC: protection from liability
• s 982A — Money to which this Subdivision applies

Research how courts apply s 981M

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