Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 94
Securities representatives
- (1)
- Subject to subsection (2), a person is a
securities representative of another person if, and only if, the
first-mentioned person:
- (a)
- is employed by; or
- (b)
- acts for or by arrangement with;
the other person in connection with a securities business or
investment advice business carried on by the other person.
- (2)
- Except for the purposes of paragraph 88(1)(b):
- (a)
- a person who holds a proper
authority from a securities licensee is a securities representative of the
licensee; and
- (b)
- a person who holds an invalid securities authority from another
person is a securities representative of the other person.
- (3)
- Subject to subsection (4), a person does
an act, or engages in conduct, as a securities representative of another
person if, and only if, the first-mentioned person does the act, or engages in
the conduct:
- (a)
- in
connection with a securities business or investment advice business carried on
by the other person;
- (b)
- while the first-mentioned person is a securities representative
of the other person;
- (c)
- as employee or agent of, or otherwise on behalf of, on account
of, or for the benefit of, the other person; and
- (d)
- otherwise than in the course of work of a kind ordinarily done by
accountants, clerks or cashiers.
- (4)
- Except for the purposes of Division 4 of
Part 7.3, a person who holds himself, herself or itself out to be a securities
representative of another person does an act as a securities representative of
the other person.
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