THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.2 - FUTURES EXCHANGES, CLEARING HOUSES AND FUTURES ASSOCIATIONS

Division 4 - General

SECTION 1137   ORDERLY MARKETS IN FUTURES CONTRACTS - FUNCTIONS AND POWERS OF FUTURES EXCHANGES AND CLEARING HOUSES  

1137(1)  [Duty to ensure orderly and fair market]  

A futures exchange, and a clearing house for a futures exchange, shall, to the extent that it is reasonably practicable to do so, take all steps, and do all things, necessary to ensure an orderly and fair market for dealings in futures contracts on a futures market of the futures exchange.

1137(2)  [Direction to holders of futures contract]  

A futures exchange may, for the purpose of performing its functions under subsection (1), give to a person who is not a member of the futures exchange but in whose name a futures contract entered into on a futures market of the futures exchange is registered a direction:

(a)  to do a particular act or thing; or

(b)  to refrain from doing a particular act or thing.

1137(3)  [Compliance with direction]  

A person shall comply with a direction given to the person in accordance with subsection (2), but a person who contravenes this subsection is not guilty of an offence.