Section 985L — Corporations Act 2001 (Cth)

Issue of margin lending facility must not be conditional on agreement to receive communications through agent

A financial services licensee must not require, as a condition of issuing a margin lending facility to a retail client, that the retail client enter into an agreement of the kind referred to in subsection 985M(2) (which deals with agreements about communications in relation to margin lending facilities).

Note: This section is a civil penalty provision (see section 1317E).

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.

Related sections

s 985H — When margin lending facility must be assessed as unsuitable
s 985J — Giving the retail client the assessment
s 985K — Unsuitable margin lending facilities
s 985M — Notification of margin calls
s 986A — Reporting in relation to money to which Subdivision A or B of Division 2 applies or property to which Division 3 applies
s 986B — Reporting in relation to dealings in derivatives

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