THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 6 - Contract guarantees

SECTION 948   DEFINITIONS  

948    In this Division, unless the contrary intention appears:

``claim'' means a claim under this Division against SEGC;

``completion period'' , in relation to a sale or purchase of securities by a dealer, means:

(a)  if the business rules of a participating exchange of which the dealer is a member organisation, being those business rules as in force when the agreement for the sale or purchase is made, prescribe a period, for the purposes of this paragraph, in relation to a class of sales or purchases that includes the sale or purchase - that period; or

(b)  otherwise - a period that is reasonable, having regard to all the circumstances relating to the sale or purchase;

``dealer'' means a person who, or a partnership that, is or has at any time been a member organisation of a participating exchange;

``Exchange body'' means the Exchange or a subsidiary of the Exchange;

``prescribed period'' , in relation to a sale or purchase of securities by a dealer, means:

(a)  if the business rules of a participating exchange of which the dealer is a member organisation, being those business rules as in force when the agreement for the sale or purchase is made, prescribe a period, for the purposes of this paragraph, in relation to a class of sales or purchases that includes the sale or purchase - that period; or

(b)  otherwise - a period that is reasonable, having regard to all the circumstances relating to the sale or purchase;

``purchase price'' , in relation to a purchase of securities by a dealer on behalf of a person, means the total of:

(a)  the amount of the consideration for the purchase; and

(b)  any brokerage fees and other charges, and any stamp duty and other duties and taxes, payable by the person to the dealer in connection with the purchase;

``reportable transaction'' means a transaction, entered into before or after the commencement of this Part in relation to securities, that is or has at any time been a reportable transaction as defined in subsection 920(1).