Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 93

93. (1) A securities business is a business of dealing in securities.

(2) An eligible securities business is:

   (a)  a business of dealing in eligible securities;

   (b)  a business of dealing in securities on behalf of corporations; or

   (c)  a business of dealing in securities in eligible circumstances.

(3) Subsections (5), (6) and (7) apply for the purposes of determining:

   (a)  whether or not a person carries on, or holds himself, herself or
        itself out as carrying on, a securities business or eligible
        securities business; and

   (b)  what constitutes such a business carried on by a person.

(4) Subsection (7) also applies for the purposes of determining whether or not
a person deals in securities.

(5) An act done on behalf of the person by the holder of a dealers licence or
an exempt dealer shall be disregarded.

(6) An act that the person does:

   (a)  while employed by, or acting for or by arrangement with, a dealer;

   (b)  as employee or agent of, or otherwise on behalf of, on account of, or
        for the benefit of, the dealer; and

   (c)  in connection with a securities business carried on by the dealer; all
        be disregarded.

(7) An act or acts done by the person that constitutes or together constitute
a dealing by the person in a futures contract shall be disregarded.