Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p56
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 56/212)
Character Range: 149576–152414

directly or indirectly) concerned in or takes part in the management of, the corporation in connection with:

         (i) the corporation carrying on business in this jurisdiction; or

         (ii) an act that the corporation does, or proposes to do, in this jurisdiction; or

         (iii) a decision by the corporation whether or not to do, or to refrain from doing, an act in this jurisdiction.

"(4) Except as provided in this section, a person is not taken to manage a corporation.".

Paragraphs 92 (1) (a), (b), (c) and (d):

  Omit the paragraphs, substitute:

     "(a) debentures, stocks or bonds issued or proposed to be issued by a government; or

     (b) shares in, or debentures of, a body corporate or an unincorporated body; or

   (c) prescribed interests; or

   (d) units of such shares or of prescribed interests; or

   (e) an option contract within the meaning of Chapter 7;".

Subsection 92 (2):

Omit "Subject to subsection (3), 'securities', where that expression is", substitute "The expression 'securities', when".

SCHEDULE 1—continued

Subsection 92 (3):

  Omit the subsection, substitute:

"(3) A provision of this Law (except Part 7.12) that applies in relation to securities of a body corporate:

     (a) also applies in relation to securities (as defined by subsection (1)) issued by a government, an unincorporated body or any other person; and

     (b) applies, in relation to securities so issued, in the same way, as nearly as practicable, as if the government, body or person were a body corporate.

"(4) A provision of Part 7.12 that applies in relation to securities of a body corporate:

     (a) also applies in relation to prescribed interests made available by a person or body other than a body corporate; and

     (b) applies, in relation to such prescribed interests, in the same way, as nearly as practicable, as if the person or body were a body corporate.

"(5) Subsections (3) and (4) have effect subject to subsection 1063 (2).

"(6) An express mention of a related body corporate in connection with a reference to securities of a body corporate does not of itself show an intention to exclude the application of subsection (3) or (4) in so far as it can apply.".

Subsection 93 (2):

  Omit the subsection.

Paragraph 93 (3) (a):

  Omit "or eligible securities business".

Subsection 94 (1):

  Omit the subsection, substitute:

"(1) Subject to subsection (2), a person is a securities representative of another person if, and only if, the first-mentioned person:

  (a) is employed by; or

  (b) acts for or by arrangement with;

the other person in connection with a securities business or investment advice business carried on by the other person.".

Paragraph 94 (3) (a):

  Omit the paragraph, substitute:

     "(a) in connection with a securities business or investment