Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p124
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 124/212)
Character Range: 327579–330414

Paragraph 1215 (3) (g):

  Omit the paragraph, substitute the following paragraphs:

      "(ga) no member of the firm is a partner or employee of the futures broker; and

      (g) in a case where the futures broker is a body corporate—no member of the firm is:

           (i) an officer of the body; or

           (ii) a partner, employer or employee of an officer of the body; or

           (iii) a partner or employee of an employee of an officer of the body; and".

Paragraph 1215 (3) (h):

Omit "no officer of the futures broker", substitute "in a case where the futures broker is a body corporate—no officer of the body".

Subsection 1218 (1):

  Omit the subsection, substitute:

  "(1) In this section:

'financial year', in relation to a futures broker, means:

     (a) if the broker is a natural person—a period of 12 months ending on 30 June in a year; or

SCHEDULE 1—continued

     (b) if the broker is a body corporate—a period that is a financial year of the body corporate because of the definition of 'financial year' in section 9;

'prescribed day', in relation to a financial year of a futures broker, means the day that is:

   (a) if the broker is a natural person—2 months; or

   (b) if the broker is a body corporate—3 months;

after the end of that financial year or, if an extension is approved under subsection (3), the day on which the extended period ends.".

Subsection 1218 (2):

  Omit "Act", substitute "Law".

Subsection 1218 (3):

Omit "of 3 months referred to in", substitute "referred to in paragraph (a) or (b), as the case requires, of".

Subsection 1219 (1):

After "from the broker or" insert ", in the case of a futures broker that is a body corporate,".

Subsection 1219 (2):

  After "of a futures broker" insert "that is a body corporate".

Section 1223:

  Omit "Act", substitute "Law".

Paragraph 1224 (1) (c):

  Omit "Act", substitute "Chapter".

Subparagraphs 1224 (1) (d) (i) and (ii):

  Omit the subparagraphs, substitute the following subparagraphs:

     "(i) in any case—the last futures brokers licence held by the person has been revoked or suspended; or

     (ii) in any case—the person no longer carries on a futures broking business; or

     (iii) if the person is a natural person—the person has died, or is incapable, because of physical or mental incapacity, of managing his or her affairs;".

Subsection 1224 (1):

Omit "of the person", substitute "that the person holds or maintains in Australia (whether in this jurisdiction or not)".

SCHEDULE 1—continued

Subsection 1224 (3):

  Omit the subsection.

Subsection 1228 (3):

  Before "law" insert "previous".

Subsection 1229 (2):

  Before "law" insert "previous".

Subsection 1233 (7):

  Before "law" insert "previous".

Subsection 1233 (8):

  Before "law" insert "previous".

Section 1234:

  Repeal the