THE CORPORATIONS LAW

CHAPTER 1 - INTRODUCTORY

PART 1.2 - INTERPRETATION

Division 7 - Interpretation of other expressions

SECTION 56   CLASSES OF FUTURES ORGANISATION MEMBERSHIP  

56    A reference to a member, in relation to a body corporate that is, or proposes to become, a futures organisation, is, if the body may operate otherwise than as a futures organisation and any of the rules, regulations or by-laws made by the body or contained in its constituent documents provide for:

(a)  a separate class of membership for persons to whom the operation of the body otherwise than as a futures organisation relates (whether or not such persons may be members within another class of membership); or

(b)  2 or more such separate classes of membership;

a reference to a person in the person's capacity as a member of the body in a class of membership other than that separate class or those separate classes, as the case may be.