THE CORPORATIONS LAW

CHAPTER 1 - INTRODUCTORY

PART 1.2 - INTERPRETATION

Division 7 - Interpretation of other expressions

SECTION 93   SECURITIES BUSINESS  

View history reference

93(1)  [Meaning of ``securities business'']  

A securities business is a business of dealing in securities.

93(2)  (Omitted by No 110 of 1990, Sch 1 (effective 18 December 1990).)

93(3)  [Application]  

Subsections (5), (6) and (7) apply for the purposes of determining:

(a)  whether or not a person carries on, or holds himself, herself or itself out as carrying on, a securities business; and

(b)  what constitutes such a business carried on by a person.

 View history note

93(4)  [Application]  

Subsection (7) also applies for the purposes of determining whether or not a person deals in securities.

93(5)  [Acts done by licensee or exempt dealer]  

An act done on behalf of the person by the holder of a dealers licence or an exempt dealer shall be disregarded.

93(6)  [Employees]  

An act that the person does:

(a)  while employed by, or acting for or by arrangement with, a dealer;

(b)  as employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the dealer; and

(c)  in connection with a securities business carried on by the dealer;

shall be disregarded.

93(7)  [Futures contracts]  

An act or acts done by the person that constitutes or together constitute a dealing by the person in a futures contract shall be disregarded.

 

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