Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 67

67. (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 a receiver, or receiver and manager, appointed by a court, of
        property of a corporation;

   (b)  as a liquidator, appointed by a court, of a corporation;

   (c)  as a person appointed by a court to carry on the business concerned,
        being a business that, at the time of the appointment, a corporation
        was carrying on, whether alone or not;

   (d)  as a receiver, or receiver and manager, appointed otherwise than by a
        court, of property of a corporation;

   (e)  as a liquidator, appointed otherwise than by a court, of a
        corporation;

   (f)  as an official manager or deputy official manager of a corporation;

   (g)  as a trustee or other person administering a compromise or arrangement
        between a corporation and any other person or persons; 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.