Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1221

1221. (1) Where, in relation to a futures broker who is a member of a futures
exchange, the futures exchange becomes aware of a prescribed matter, the
futures exchange shall, as soon as practicable after becoming aware of the
matter, lodge a written report on the matter and send a copy of the report to
the broker.

(2) Subsection (1) applies:

   (a)  in relation to a clearing house for a futures exchange and a member of
        the clearing house; and

   (b)  in relation to a futures association and a member of the futures
        association (unless the futures association is also a futures
        exchange); in the same manner as it applies in relation to a futures
        exchange and a member of the futures exchange.
(3) In this section, "prescribed matter", in relation to a futures broker,
means a matter that, in the opinion of the futures exchange, clearing house or
futures association concerned:

   (a)  has adversely affected, is adversely affecting, or may adversely
        affect, the ability of the broker to meet the broker's obligations as
        a broker;

   (b)  constitutes or may constitute a contravention of section 1209, 1213 or
        1214;

   (c)  constitutes or may constitute a contravention of a condition of a
        licence held by the broker; or

   (d)  constitutes a failure to make, in accordance with Part 8.6,
        contributions to a fidelity fund.