Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW
- SECT 845
Dealings by employees of holders of licences
- (1)
- A person who is a dealer
or an investment adviser and an employee of that person shall not, as
principals, jointly buy or subscribe for, or agree to buy or subscribe for,
securities.
- (2)
- A person who is a partner
in a partnership that carries on a securities business or an investment advice
business and an employee of the partnership shall not, as principals, jointly
buy or subscribe for, or agree to buy or subscribe for,
securities.
- (3)
- A person who is a dealer
or investment adviser, or who is a partner in a partnership that carries on a
securities business or an investment advice business, shall not give credit to
an employee of the person or partnership, as the case may be, or to a person
who the first-mentioned person knows is an associate of such an employee if:
- (a)
- the credit
is given for the purpose of enabling or assisting the person to whom the
credit is given to buy or subscribe for securities;
or
- (b)
- the person giving the
credit knows or has reason to believe that the credit will be used for the
purpose of buying or subscribing for securities.
- (4)
- A person who is an
employee of a sole trader or member firm in connection with a business of
dealing in securities carried on by the sole trader or member firm shall not,
as principal, buy or agree to buy securities or rights or interests in
securities unless the sole trader or member firm acts as the agent of the
person in respect of the transaction.
- (5)
- A reference in subsection
(1) or (3) to an employee of a person who is a dealer or investment adviser
includes, in the case of a body corporate that is a dealer or investment
adviser, a reference to an officer of the
body.
- (6)
- The reference in
subsection (4) to an employee of a sole trader or member firm includes, in the
case of a sole trader that is a body corporate or a member firm a partner in
which is a body corporate, a reference to an officer of the body.
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