Commonwealth Numbered Regulations

1989 No. 371 FUTURES INDUSTRY REGULATIONS (AMENDMENT) - REG 2

2. After Regulation 17 of the Principal Regulations, the following regulation
is inserted: Conditions of licence: general

"18. (1) For the purposes of section 69 of the Act, a licence is subject to
the conditions that the holder of the licence must ensure that each
representative of the holder:

   (a)  is adequately supervised in the performance of the duties that he or
        she is required by the holder to perform; and

   (b)  is sufficiently trained in relation to those duties before acting as a
        representative; and

   (c)  keeps up to date in relation to those duties by means of continuing
        training programs.

"(2) The Commission may, by notice in writing, require a holder of a licence
to satisfy it that the conditions referred to in subregulation (1) have been
met by the holder.".