Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1148

Conditions of futures brokers licence: membership of futures organisation

(1) A futures brokers licence is subject to:

a condition that the licensee be, throughout the currency of the licence, a member of a futures organisation; and

a condition that the licence is suspended throughout a period throughout which the licensee:

is a member of no futures organisation; and
would, but for the suspension of the licensee's membership of a futures organisation, be a member of the last-mentioned futures organisation.

(2) A person whose membership of a futures organisation is suspended for a period:

is, for the purposes of paragraph (1)(a), a member of that futures organisation throughout that period; and

is, for the purposes of paragraph (1)(b), a member of that futures organisation at no time during that period.

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