Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1139

(1)

A futures exchange, a clearing house for a futures exchange, and a futures association, shall each provide such assistance to the Commission, or to a person acting on behalf of, or with the authority of, the Commission, as the Commission reasonably requires for the performance of its functions under this Chapter.

(2)

Where:

(a)

a body corporate, being a futures exchange, a clearing house for a futures exchange, or a futures association, decides to reprimand, fine, suspend, expel or otherwise take disciplinary action against, a member of the body corporate; and

(b)

subsection 1135(1) does not require the body corporate to give to the Commission a notice relating to the decision;

the body corporate shall, within 14 days after so deciding, give to the Commission a notice in writing setting out particulars of the name of the member, the decision, the reasons for the decision and, in the case of a decision to fine a member, the amount of the fine.

(2A)

A futures exchange, a clearing house for a futures exchange or a futures association that believes that a person has committed, is committing or is about to commit a serious contravention of its business rules, or the Corporations Law of this or any other jurisdiction, must, as soon as practicable, lodge a statement setting out:

(a)

particulars of the contravention that it believes the person has committed, is committing or is about to commit; and

(b)

its reasons for that belief.

(3)

Where a clearing house for a futures exchange:

(a)

refuses to register a dealing in a futures contract; or

(b)

closes out a futures contract because of a failure to meet a call for deposit or margin;

it shall forthwith furnish the Commission with particulars of its action.

(4)

A person authorised by the Commission is entitled at all reasonable times to full and free access for any of the purposes of this Law to the trading floor of a futures market of a futures exchange.

(5)

A person who refuses or fails, without lawful excuse, to allow a person authorised by the Commission access in accordance with subsection (4) to the trading floor of a futures market of a futures exchange contravenes this subsection.