Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p101
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 101/212)
Character Range: 266757–269542

contravention of section 780, carries on, or holds out that the person carries on, a securities business; or

     (b) in contravention of section 781, carries on an investment advice business or holds out that the person is an investment adviser.".

Section 796:

  Repeal the section.

SCHEDULE 1—continued

Section 797:

  Repeal the section.

Section 803:

  Omit "an Australian court", substitute "a court".

Subsection 810 (1):

  Omit the subsection, substitute:

"(1) A licensee must establish a register of the persons who hold proper authorities from the licensee and must keep it in accordance with this section.".

Section 810:

  Add at the end:

"(8) Where a licensee whom subsection (1) requires to establish a register already keeps one under this section or a corresponding previous law, the licensee need not establish a new register but must keep the existing one in accordance with this section.".

Section 811:

  Repeal the section, substitute:

Licensee to notify Commission of location and contents of register

  "811. (1) In this section:

'register', in relation to a licensee, means a register that the licensee keeps for the purposes of section 810.

"(2) Within 14 days after establishing a register, the licensee must lodge written notice of where the register is kept.

"(3) As soon as practicable after changing the place where a register is kept, the licensee must lodge written notice of the new place where the register is kept.

"(4) Within 2 business days after the day on which a person begins to hold a particular proper authority from a licensee, the licensee must, whether or not the person has previously held a proper authority from the licensee, lodge:

  (a) a copy of the first-mentioned proper authority; and

     (b) a written notice stating that the person began to hold that proper authority on that day.

"(5) The licensee must lodge a written notice, within the period provided by subsection (6):

     (a) setting out the information that the register is required to contain by paragraph 810 (3) (b), (c), (d) or (e); and

SCHEDULE 1—continued

     (b) stating that the information has been, or is to be, entered in the register.

"(6) A notice under subsection (5) must be lodged within the period within which subsection 810 (5) requires the information to be entered in the register.

"(7) Within 2 business days after a person ceases to hold a proper authority from a licensee, the licensee must, unless at the end of those 2 business days the person again holds a proper authority from the licensee, lodge a written notice stating that the person has ceased to hold such a proper authority.".

Section 812:

  Repeal the section, substitute:

Inspection and copying of register

  "812. (1) In this section:

'register' in