Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1142

1142. (1) A corporation shall not:

   (a)  deal in a futures contract on another person's behalf; or

   (b)  hold itself out as carrying on a futures broking business; unless the
        corporation:

   (c)  is an eligible corporation and holds a futures brokers licence; or

   (d)  is an exempt broker.

(2) A person shall not:

   (a)  deal in a futures contract on a corporation's behalf; or

   (b)  deal in a futures contract, on a person's behalf, in eligible
        circumstances; unless the person:

   (c)  is an eligible corporation and holds a futures brokers licence; or

   (d)  is an exempt broker.

(3) A person shall not hold himself, herself or itself out as carrying on:

   (a)  a business of dealing in futures contracts on behalf of corporations,
        or persons including corporations; or

   (b)  a business of dealing in futures contracts, on behalf of other
        persons:

        (i)    in eligible circumstances; or

        (ii)   in circumstances including eligible circumstances; unless the
               person:

   (c)  is an eligible corporation and holds a futures brokers licence; or

   (d)  is an exempt broker.

(4) A person shall not:

   (a)  in the course of a futures broking business carried on by the person;
        or

   (b)  in connection with holding himself, herself or itself out as carrying
        on a futures broking business; use an eligible communications service
        unless the person:

   (c)  is an eligible corporation and holds a futures brokers licence; or

   (d)  is an exempt broker.