Section 766D — Corporations Act 2001: Meaning of makes a market

(1) A person makes a market for a financial product if: (a) either through a facility, at a place or otherwise, the person regularly states the prices at which they propose to acquire or dispose of financial products on their own behalf; and (b) other persons have a reasonable expectation that they will be able to regularly effect transactions at the stated prices; and (c) the actions of the person do not, or would not if they happened through a facility or at a place, constitute operating a financial market because of the effect of paragraph 767A(2)(a). (2) Paragraph (1)(a) does not apply to a person stating prices at which they propose to acquire or dispose of financial products if: (a) the person is the issuer of the products; and (b) the products are: (i) superannuation products; or (ii) managed investment products; or (iii) financial products referred to in paragraph 764A(1)(ba) (which relates to certain managed investment schemes that are not registered schemes); or (iv) foreign passport fund products.