23. Placement of licensee’s own money in trust account

Notwithstanding regulation 16(1), the holder of a capital markets services licence may from time to time advance sufficient money to a customer’s trust account from its own funds —

to prevent the customer’s trust account from being under-margined or under-funded; or

to ensure the continued maintenance of that account in a case where it is maintained with —

a financial institution specified in regulation 17(1); or

a custodian specified in regulation 17(2).

The holder may retain any interest earned and return arising on the moneys which it has so advanced to the account.

Subject to regulation 21(1)(e), any money belonging to the holder that is deposited into a customer’s trust account may be used for the purpose of payment to the customer.

Notwithstanding regulation 16(1), the holder of a capital markets services licence may from time to time advance sufficient money to a customer’s trust account from its own funds —

to prevent the customer’s trust account from being under-margined or under-funded; or

to ensure the continued maintenance of that account in a case where it is maintained with —

a financial institution specified in regulation 17(1); or

a custodian specified in regulation 17(2).

The holder may retain any interest earned and return arising on the moneys which it has so advanced to the account.

Subject to regulation 21(1)(e), any money belonging to the holder that is deposited into a customer’s trust account may be used for the purpose of payment to the customer.