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:...
CHAPTER 1 - INTRODUCTORY
PART 1.2 - INTERPRETATION
Division 4 - Dealing in futures contracts
SECTION 24
DISPOSING OF A FUTURES CONTRACT
24(1)
[Disposal of futures contract]
A person disposes of a futures contract (other than a futures option or an eligible exchange-traded option) if, and only if, the person takes, or causes to be taken, such action as closes out the futures contract, whether or not the action is taken on another's behalf.
24(2)
[Futures option or eligible exchange-traded option]
A person disposes of a futures option or an eligible exchange-traded option if, and only if, the person:
(a)
grants, assigns or exercises the option;
(b)
takes, or causes to be taken, such action as releases the option; or
(c)
allows the option to lapse;
whether or not on another's behalf.
24(3)
[Sections 26 and 27]
This section has effect subject to sections
26 and
27.