Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 67
Exempt brokers and exempt futures advisers
- (1)
- A body corporate is both an exempt broker and
an exempt futures adviser if it is:
- (a)
- a prescribed body corporate; or
- (b)
- an exempt public authority in relation to which a declaration is
in force under subsection (2).
- (2)
- The Minister may by writing declare that
paragraph (1)(b) applies in relation to specified bodies corporate.
- (3)
- The Commission shall cause a copy of an instrument executed under
subsection (2) to be published in the Gazette.
- (4)
- Subject to this section, a person is an exempt broker or an
exempt futures adviser if the person is a futures broker or futures adviser,
as the case may be, but does not carry on a futures broking business or a
futures advice business, as the case may be, except:
- (a)
- as an official receiver or trustee within the
meaning of the Bankruptcy Act 1966; or
- (b)
- as a receiver, receiver and manager, or liquidator, appointed by
a court; or
- (c)
- as a person appointed by a court to carry on the business
concerned; or
- (d)
- as a receiver, receiver and manager, or liquidator, appointed
otherwise than by a court; or
- (e)
- as an administrator of a body corporate; or
- (ea)
- as an administrator of a deed of company arrangement executed by
a body corporate;
- (f)
- as a trustee or other person administering a compromise or
arrangement between a body corporate and any other person or persons;
or
- (g)
- as a personal representative of a dead futures broker or futures
adviser, as the case may be; or
- (h)
- in such other capacity, or in such other circumstances, as are
prescribed.
- (5)
- A person who carries on a futures
broking business or futures advice business in a capacity referred to in any
of paragraphs (4)(d) to (g), inclusive, shall be deemed for the purposes of
subsection (4) to carry on the business otherwise than in that capacity unless
there is in force under subsection (6) an approval of the person carrying on
the business in that capacity.
- (6)
- The Commission may, on application by a person and after having
regard to:
- (a)
- the
prescribed matters (if any); and
- (b)
- such matters as it thinks appropriate;
by writing approve of the person carrying on a specified
futures broking business or futures advice business in a specified capacity,
being a capacity referred to in any of paragraphs (4)(d) to (g), inclusive.
- (7)
- A person is not an exempt broker or an exempt futures
adviser except as provided by this section.
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