Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 779

779. (1) In this section:

"disciplinary proceeding", in relation to a securities exchange, means:s of
dealing in eligible securities, or in securities including eligible
securities;

   (a)  a proceeding under the business rules of the securities exchange that
        may result in the disciplining of a member of the securities exchange;
        or

   (b)  an appeal under the business rules of the securities exchange from a
        proceeding of a kind referred to in paragraph (a);

"disciplining", in relation to a member of a securities exchange, includes
expulsion from, or suspension of, membership of the securities exchange;

"member", in relation to a securities exchange, includes a person who is under
an obligation to comply with or enforce the business rules of the securities
exchange.

(2) A securites exchange, or a member, oficer or employee of a securities
exchange, has qualified privilege in respect of a statement made by a person,
orally or in writing, in the course of, or otherwise for the purposes of or in
connection with, a disciplinary proceeding of the securities exchange.

(3) Where:

   (a)  an Exchange subsidiary is acting on behalf of the Exchange; or

   (b)  an officer or employee of an Exchange subsidiary is acting on behalf
        of the Exchange or of a member, officer or employee of the Exchange;
        in connection with a disciplinary proceeding of the Exchange, the
        Exchange subsidiary and an officer or employee of the Exchange
        subsidiary have qualified privilege in respect of a statement made by
        a person, orally or in writing, in the course of, or otherwise for the
        purposes of or in connection with, the disciplinary proceeding.

(4) A person has qualified privilege in respect of the publication of:

   (a)  a statement made by a person, orally or in writing, in the course of,
        or otherwise for the purposes of or in connection with; or

   (b)  a document prepared, given or produced by a person, in the course of,
        or otherwise for the purposes of or in connection with; a
        disciplinary proceeding of a securities exchange.