Commonwealth Numbered Acts

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Securities business

(1) A securities business is a business of dealing in securities. (3) Subsections (5), (6) and (7) apply for the purposes of determining:

whether or not a person carries on, or holds himself, herself or itself out as carrying on, a securities business; and

what constitutes such a business carried on by a person.

(4) Subsection (7) also applies for the purposes of determining whether or not a person deals in securities. (5) An act done on behalf of the person by the holder of a dealers licence or an exempt dealer is to be disregarded. (6) An act that the person does:

while employed by, or acting for or by arrangement with, a dealer; and

as employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the dealer; and

in connection with a securities business carried on by the dealer;

is to be disregarded.

(7) An act or acts done by the person that constitutes or together constitute a dealing by the person in a futures contract is to be disregarded.

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