Commonwealth Numbered Acts
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CORPORATIONS ACT 2001 - SECT 71
Futures advice business
(1) A reference to a futures advice business, in relation to a person, is a
- a business of advising other persons about
futures contracts; or
- a business in the course of which the person publishes futures reports.
(3) The remaining provisions of this subsection apply for the purposes of
- whether or not a person carries on a
futures advice business; and
- what constitutes a futures advice business carried on by a person; and
- whether or not a person holds himself, herself or itself out to be a
(4) If the person is a solicitor or accountant in public practice as such, an
act that the person does is to be disregarded if it is merely incidental to
the practice of his or her profession.
(5) The fact that the person advises other persons about futures contracts, or
publishes futures reports, in some or all of the following circumstances is to
- in a newspaper or periodical:
- of which the person is the proprietor or publisher; and
- that is generally available to the public otherwise than only on
- in the course of, or by means of, transmissions that:
- the person makes by means of an information service; or
- are made by means of an information service that the person owns,
operates or makes available;
and are generally available to the public;
- in sound recordings, video recordings, or data recordings, that the person
makes generally available to the public in either or both of the following
- by supplying copies of them to the public;
- by causing the sound recordings to be heard by, the video recordings to
be seen and heard by, or the contents of the data recordings to be displayed
or reproduced for, the public, as the case may be.
(6) Subsection (5) does not apply in relation to a newspaper or
periodical, or transmissions, sound recordings, video recordings or data
recordings, whose sole or principal purpose is to advise other persons about
futures contracts or to publish futures reports.
(7) The fact that the person holds himself, herself or itself out as advising
other persons, or publishing futures reports, as mentioned in
subsection (5) is to be disregarded.
(8) An act that the person does:
- while employed by, or acting for or by
arrangement with, another person; and
- as employee or agent of, or otherwise on behalf of, on account of, or for
the benefit of, the other person; and
- in connection with a futures advice business carried on by the other
is to be disregarded.
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