Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 29 Own account dealings and transactions: futures contracts
- (1)
- A reference to a person dealing in a futures contract, or entering into a
transaction in relation to a futures contract, on the person's own account
includes a reference to a person so dealing, or entering into such a
transaction, as the case may be, as principal or on behalf of:
- (a)
- in any casean associate of the person;
- (b)
- in any casea body corporate in which the person has a controlling
interest; or
- (c)
- if the person carries on a futures broking business in partnershipa body
corporate in which the person's interests and the interests of the other
partners together constitute a controlling interest.
- (2)
- A futures broker who is a member of a futures exchange or of a recognised
futures exchange does not deal in a futures contract, or enter into a
transaction in relation to a futures contract, on the broker's own account
merely because the dealing is with, or the transaction is entered into with,
another futures broker who is a member of a futures exchange or of a recognised
futures exchange.
- (3)
- Despite Division 2, a person is not an associate of another person for the
purposes of subsection (1) merely because the first-mentioned person is either
or both of the following:
- (a)
- a partner of the other person otherwise than because of carrying on in
partnership with the other person a business of dealing in futures contracts;
- (b)
- a director of a body corporate of which the other person is also a
director, whether or not the body carries on a business of dealing in futures
contracts.
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