anz opes amsla only half the agreement

We have had a very brief insight into Da Finks deliberations

The collateral and bargain for the Lender(client)is not spelt out etc

Try this
Because the amsla is only half the contract..The client and Opes discussed and negotiated their bargain separately

In the Ants case ..we asked for a Margin loan in writing
asked for a lvr on some shares
Opes came back with an offer of lvr and interest rate..our intermediary ..jokingly called them robbers
we accepted the offer..and filed in the forms..to transfer shares to ANZ

We argue both of our bargains ..request /negotiation/conclusion..should be read at the same time as the amsla
Not the amsla in isolation

Then things make more sense..

Where does ANZ fit in..ANZ knew Opes business model and knew Opes was retailing Margin loans

And were the recipiant of 1200 peoples shares

The intention of the 1200 was certainly not to loan shares to opes..thats just a nonsense or as Bryan Frith has observed a legal fiction