(1) Where, in relation to a futures broker who is a member of a futures
exchange, the futures exchange becomes aware of a prescribed matter, the
futures exchange must, as soon as practicable after becoming aware of the
matter, lodge a written report on the matter and send a copy of the report to
the broker.
(2) Subsection (1) applies:
- (a)
- in relation to a clearing house for a
futures exchange and a member of the clearing house; and
- (b)
- in relation to a futures association and a member of the futures
association (unless the futures association is also a futures exchange);
in the same manner as it applies in relation to a futures exchange and a
member of the futures exchange.
(3) In this section, prescribed matter , in relation to a futures broker,
means a matter that, in the opinion of the futures exchange, clearing house or
futures association concerned:
- (a)
- has adversely affected, is adversely
affecting, or may adversely affect, the ability of the broker to meet the
broker's obligations as a broker; or
- (b)
- constitutes or may constitute a contravention of section 1209, 1213
or 1214; or
- (c)
- constitutes or may constitute a contravention of a condition of a licence
held by the broker; or
- (d)
- constitutes a failure to make, in accordance with Part 8.6,
contributions to a fidelity fund.
Commonwealth Numbered Acts