THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

SECTION 1148 CONDITIONS OF FUTURES BROKERS LICENCE: MEMBERSHIP OF FUTURES ORGANISATION

1148(1) [Conditions of futures broker's licence]

A futures brokers licence is subject to:

(a) a condition that the licensee be, throughout the currency of the licence, a member of a futures organisation; and

(b) a condition that the licence is suspended throughout a period throughout which the licensee:

(i) is a member of no futures organisation; and

(ii) would, but for the suspension of the licensee's membership of a futures organisation, be a member of the last-mentioned futures organisation.

1148(2) [Effect of suspension]

A person whose membership of a futures organisation is suspended for a period:

(a) is, for the purposes of paragraph (1)(a), a member of that futures organisation throughout that period; and

(b) is, for the purposes of paragraph (1)(b), a member of that futures organisation at no time during that period.