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 7 - SECURITIES
PART 7.2 - SECURITIES EXCHANGES AND STOCK MARKETS
History
Heading amended by No 104 of 1994, Sch 8 (effective 1 January
1995).
SECTION 777
POWER OF COURT TO ORDER COMPLIANCE WITH OR ENFORCEMENT OF BUSINESS RULES OR LISTING RULES OF SECURITIES EXCHANGE
777(1)
[Court may order compliance with rules]
Where a person who is under an obligation to comply with or enforce the business rules or listing rules of a securities exchange fails to comply with or enforce any of those business rules or listing rules, as the case may be, the Court may, on the application of the Commission, the securities exchange or a person aggrieved by the failure and after giving to the person aggrieved by the failure and the person against whom the order is sought an opportunity of being heard, make an order giving directions concerning compliance with, or enforcement of, those business rules or listing rules to:
(a)
that last-mentioned person; and
(b)
if that person is a body corporate - the directors of that body corporate.
History
S 777(1) amended by No 31 of 1994, Sch 1, Pt 1 (effective 4 September 1994).
777(2)
[Bodies corporate on official list to comply with rules]
For the purposes of subsection
(1), a body corporate that is, with its agreement, consent or acquiescence, included in the official list of a securities exchange, or an associate of such a body corporate, shall be deemed to be under an obligation to comply with the listing rules of that securities exchange to the extent to which those rules purport to apply in relation to the body corporate or associate, as the case may be.
History
S 777(2) amended by No 110 of 1990, Sch 1 (effective 18 December 1990).
777(3)
[Comply with listing rules]
For the purposes of subsection
(1), if a disclosing entity that is an undertaking to which interests in a registered scheme relate is, with the responsible entity's agreement, consent or acquiescence, included in the official list of a securities exchange, the responsible entity, or an associate of the responsible entity, is taken to be under an obligation to comply with the listing rules of that securities exchange to the extent to which those rules apply to the responsible entity or associate.
History
S 777(3) substituted by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
S 777(3) inserted by No 31 of 1994, Sch 1, Pt 1 (effective 4 September 1994).
777(4)
[``person aggrieved'']
For the purposes of subsection
(1), if a body corporate fails to comply with or enforce provisions of the business rules or listing rules of a securities exchange, a person who holds securities of the body corporate that are quoted on a stock market of the securities exchange is taken to be a person aggrieved by the failure.
History
S 777(4) inserted by No 31 of 1994, Sch 1, Pt 1 (effective 4 September 1994).
777(5)
[Definition of ``person aggrieved'' not exclusive]
Subsection
(4) does not limit the circumstances in which a person may be aggrieved by a failure for the purposes of subsection
(1).
History
S 777(5) inserted by No 31 of 1994, Sch 1, Pt 1 (effective 4 September 1994).