Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p17
Version: federal_register_of_legislation:C2004A03415
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would have been possible to make under applicable laws the arrangements made by this Part and the corresponding provisions, those arrangements had been made under those applicable laws.".
6. After section 42a of the Principal Act the following section is inserted in Part III:

Qualified privilege in respect of disciplinary proceedings
"42b. (1) In this section:
'disciplinary proceeding', in relation to a securities exchange, means:
        (a) a proceeding under the business rules of the securities exchange that may result in the disciplining of a member of the securities exchange; or
        (b) an appeal under the business rules of the securities exchange from a proceeding of a kind referred to in paragraph (a);
    whether or not the proceeding or appeal began after the relevant commencement;
     'disciplining', in relation to a member of a securities exchange, includes expulsion from, or suspension of, membership of the securities exchange;
     'member', in relation to a securities exchange, includes a person who is under an obligation to comply with, observe, enforce, or give effect to, the business rules of the securities exchange;
     'relevant commencement' means the commencement of section 6 of the Australian Stock Exchange and National Guarantee Fund Act 1987;
'securities exchange' includes a recognised securities exchange.
"(2) In the absence of malice, a securities exchange, or a member, officer or employee of a securities exchange, is not liable to an action for defamation in respect of a statement made by a person, orally or in writing, after the relevant commencement and in the course of, or otherwise for the purposes of or in connection with, a disciplinary proceeding of the securities exchange.
"(3) Where:
(a) an Exchange subsidiary is acting on behalf of the Exchange; or

     (b) an officer or employee of an Exchange subsidiary is acting on behalf of the Exchange or of a member, officer or employee of the Exchange;
in connection with a disciplinary proceeding of the Exchange, neither the Exchange subsidiary nor an officer or employee of the Exchange subsidiary is, in the absence of malice, liable to an action for defamation in respect of a statement made by a person, orally or in writing, after the relevant commencement and in the course of, or otherwise for the purposes of or in connection with, the disciplinary proceeding.
"(4) A person is not liable for an action for defamation in respect of the publication without malice of:
     (a) a statement made by a person, orally or in writing, after the relevant commencement and in the course of, or otherwise for the purposes of or in connection with; or
     (b) a document prepared, furnished or produced by a person, after the relevant commencement and in the course of, or otherwise for the