Document ID: chunk:federal_register_of_legislation:C2004A04777:section:5:p15
Version: federal_register_of_legislation:C2004A04777
Segment Type: section
Provision Reference: s 5 (pt 15/16)
Character Range: 86328–89021

into the account will be amounts withdrawn from a clients' segregated account of the broker and will be moneys to which clients of the broker are entitled;

SCHEDULE 8—continued

        (iii) the broker has obtained from the person a written statement signed by the person that acknowledges that the broker has informed the person as mentioned in subparagraph (ii).".

28. Section 1209:

  Add at the end:

"(19) A futures broker must not pay an amount into a clients' segregated account of the broker except as required or authorised by this section or the regulations.".

29. Subsection 1336A(2):

  After "Law," insert "or but for this Law and relevant repeals,".

30. Section 1336A:

  Add at the end:

"(3) If, before 1 January 1991, a specified proceeding under a law of this jurisdiction was begun by or against an authority of this jurisdiction, the proceeding may be continued by or against the Commission.

"(4) If, but for this Law, or but for this Law and relevant repeals, a specified proceeding under a law of this jurisdiction could have been begun by or against an authority of this jurisdiction, the proceeding may be begun by or against the Commission.

  "(5) In this section:

'authority of this jurisdiction' includes:

  (a) an officer of this jurisdiction; and

  (b) an officer of an authority of this jurisdiction;

'relevant repeal' means:

    (a) the repeal of the National Companies and Securities Commission Act 1979; or

    (b) the repeal of a law of this jurisdiction corresponding to a provision of that Act;

'specified' means specified in an application order.".

31. Schedule 3:

  Omit:

"Section 126:

Penalty: $500 for each day during all or part of which the contravention continues.".

                         SCHEDULE 9 Section 12

AMENDMENTS OF ASC ACT AND CORPORATIONS LAW
RELATING TO APPLICATION OF CHANGES

PART 1—AMENDMENT OF ASC ACT

1. After section 262:

  Insert:

"PART 17—COMMENCEMENT AND APPLICATION OF CERTAIN AMENDMENTS OF THE ASC LAW

"Division 1—Preliminary

Meaning of "ASC Law"

  "263. In this Part:

'ASC Law' means the provisions of the Australian Securities Commission Act 1989 as they have effect as the ASC Law of this jurisdiction.

Meaning of "amendment of the ASC Law"

"264. In this Part, a reference to an amendment of the ASC Law, or of a provision of the ASC Law, is a reference to a change to the ASC Law, or to that provision, that results from an amendment of the Australian Securities Commission Act 1989.

"Division 2—Amendments made by the Corporations Legislation Amendment Act 1994

Meaning of "Amending Act"

  "265. In this Division:

'Amending Act' means the Corporations Legislation Amendment Act 1994.