Section 885D — Corporations Act 2001: Certain losses that are not Division 3 losses

(1) If, in relation to a loss suffered by a person: (a) the requirements of subsection 885C(1) are satisfied in relation to a participant and 2 or more financial markets; and (b) the person did not (expressly or impliedly) instruct the participant to use a particular one of those markets; and (c) it is not reasonably apparent from the usual business practice of the participant which of those markets the participant would use when acting for the person; the loss is taken not to be a Division 3 loss. (2) If, in relation to a loss suffered by a person: (a) the requirements of subsection 885C(1) are satisfied in relation to a participant and a financial market; and (b) the loss is also connected (see section 888A) with a financial market to which Division 4 applies; and (c) the person did not (expressly or impliedly) instruct the participant to use a particular one of those markets; and (d) it is not reasonably apparent from the usual business practice of the participant which of those markets the participant would use when acting for the person; the loss is taken not to be a Division 3 loss. (3) If, in relation to a loss suffered by a person: (a) the transaction referred to in paragraph 885C(1)(b) could have been effected otherwise than through a financial market; and (b) the person did not (expressly or impliedly) instruct the participant concerned to effect the transaction through a financial market; and (c) it is not reasonably apparent from the usual business practice of the participant that the transaction would be effected through a financial market; the loss is taken not to be a Division 3 loss.