s 60 Obligation in relation to customers’ money and assets held by approved clearing house
60.—(1) Without affecting sections 81Q and 341, the Authority may make regulations —(a) relating to how any money or assets deposited with or paid to an approved clearing house by its members, for or in relation to any contracts of the customers of those members, are to be held by the approved clearing house and, in particular, requiring any such money or assets to be deposited in trust accounts or custody accounts; (b) relating to the circumstances under which, and the purposes for which, the money or assets referred to in paragraph (a) may be used by the approved clearing house; (c) relating to how the approved clearing house may invest the money or assets referred to in paragraph (a); and (d) for any other purpose relating to the handling of the money and assets referred to in paragraph (a).[34/2012] (2) Regulations made under this section may provide —(a) that a contravention of any specified provision thereof shall be an offence; and (b) for a penalty not exceeding a fine of $200,000 and, in the case of a continuing offence, for a further penalty not exceeding $20,000 for every day or part of a day during which the offence continues after conviction.[34/2012]