Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1148

1148. (1) A futures brokers licence is subject to:

   (a)  a condition that the licensee be, throughout the currency of the
        licence, a member of a futures organisation; and

   (b)  a condition that the licence is suspended throughout a period
        throughout which the licensee:

        (i)    is a member of no futures organisation; and

        (ii)   would, but for the suspension of the licensee's membership of a
               futures organisation, be a member of the last-mentioned futures
               organisation.

(2) A person whose membership of a futures organisation is suspended for a
period:

   (a)  is, for the purposes of paragraph (1) (a), a member of that futures
        organisation throughout that period; and

   (b)  is, for the purposes of paragraph (1) (b), a member of that futures
        organisation at no time during that period.