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ASIC will lift the ban on short selling of non-financial securities effective 19 November. The ban on short selling of financial securities will continue until 27 January 2009. Naked short selling will be banned indefinitely by the ASX. A set of reporting and disclosure requirements will also be in place where clients are required to report the type sale to the broker.   

Refer to ASIC website for more information.

http://www.asic.gov.au/ASIC/asic.nsf/byHeadline/AD08-65%20ASIC%20lifts%20ban%20on%20covered%20short%20selling%20for%20non-financial%20securities?opendocument