Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1149

(1)

Without limiting the generality of section 1147, one or more of the following may be imposed under that section on a futures brokers licence:

(a)

a condition or restriction about limiting the liability that the licensee may incur in connection with a business of dealing in futures contracts;

(b)

a condition or restriction about incurring, or a condition about disclosing, liabilities of the licensee that arise otherwise than in connection with such a business;

(c)

a condition or restriction about the licensee's financial position, whether or not in relation to such a business;

(d)

without limiting the generality of paragraph (c), a condition that the licensee's assets include, or not include, specified assets;

(e)

without limiting the generality of paragraph (c), a condition that the sum of the values of specified assets included in the licensee's assets be not less than, or not greater than, an amount ascertained in accordance with the condition.

(2)

A condition imposed by virtue of paragraph (1)(e) may provide for the values of assets to be ascertained, for the purposes of applying the condition, in a manner specified in, or determined in accordance with, the condition.

(3)

Without limiting the generality of paragraph (1)(e), a condition imposed by virtue of that paragraph may provide for the amount referred to in that paragraph to be a specified percentage of the sum of:

(a)

the values of all the licensee's assets;

(b)

the values of specified assets included in the licensee's assets;

(c)

the amounts of all the licensee's liabilities; or

(d)

the amounts of specified liabilities included in the licensee's liabilities.