Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 94

Securities representatives

 
 
(1)
Subject to subsection (2), a person is a
securities representative of another person if, and only if, the
first-mentioned person: 
 
 

(a)
is employed by; or

(b)
acts for or by arrangement with; 

 
the other person in connection with a securities business or
investment advice business carried on by the other person.
 

(2)
Except for the purposes of paragraph 88(1)(b): 
 
 
 
(a)
a person who holds a proper
authority from a securities licensee is a securities representative of the
licensee; and

(b)
a person who holds an invalid securities authority from another
person is a securities representative of the other person. 

 
 
(3)
Subject to subsection (4), a person does
an act, or engages in conduct, as a securities representative of another
person if, and only if, the first-mentioned person does the act, or engages in
the conduct: 
 
 
 
(a)
in
connection with a securities business or investment advice business carried on
by the other person;

(b)
while the first-mentioned person is a securities representative
of the other person;

(c)
as employee or agent of, or otherwise on behalf of, on account
of, or for the benefit of, the other person; and

(d)
otherwise than in the course of work of a kind ordinarily done by
accountants, clerks or cashiers. 

 
 
(4)
Except for the purposes of Division 4 of
Part 7.3, a person who holds himself, herself or itself out to be a securities
representative of another person does an act as a securities representative of
the other person.