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 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY
Division 1 - Dealers and investment advisers and operators of managed investment schemes
History
Div heading amended by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
SECTION 780
DEALERS
780(1)
(Licence required)
A person must not:
(a)
carry on a securities business; or
(b)
hold out that the person carries on a securities business;
unless the person holds a dealers licence or is an exempt dealer.
History
S 780(1) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).
780(2)
(What licence authorises a person to do)
A dealers licence may authorise a person to do either or both of the following:
(a)
to carry on a securities business
(b)
to operate:
(i) a managed investment scheme; or
(ii) managed investment schemes of a particular kind.
Note:
Only public companies that hold a dealers licence can be responsible entities for registered managed investment schemes (see section
601FA).
History
S 780(2) inserted by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).