(1) A reference to a person dealing in a futures contract, or entering into a transaction in relation to a futures contract, on the person's own account includes a reference to a person so dealing, or entering into such a transaction, as the case may be, as principal or on behalf of:

(a)

in any case—an associate of the person; or

(b)

in any case—a body corporate in which the person has a controlling interest; or

(c)

if the person carries on a futures broking business in partnership—a body corporate in which the person's interests and the interests of the other partners together constitute a controlling interest.

(2) A futures broker who is a member of a futures exchange or of a recognised futures exchange does not deal in a futures contract, or enter into a transaction in relation to a futures contract, on the broker's own account merely because the dealing is with, or the transaction is entered into with, another futures broker who is a member of a futures exchange or of a recognised futures exchange. (3) Despite Division 2, a person is not an associate of another person for the purposes of subsection (1) merely because the first-mentioned person is either or both of the following:

(a)

a partner of the other person otherwise than because of carrying on in partnership with the other person a business of dealing in futures contracts;

(b)

a director of a body corporate of which the other person is also a director, whether or not the body carries on a business of dealing in futures contracts.