Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p53
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 53/212)
Character Range: 141842–144721

After section 69:

  Insert:

Exempt securities

"69a. (1) The following are exempt securities in relation to New South Wales:

     (a) securities of a society, association or union registered under the Co-operation Act 1923, or under the Permanent Building Societies Act 1967, of New South Wales;

     (b) securities of a credit union, association of credit unions, or union of associations of credit unions, registered under the Credit Union Act 1969 of New South Wales.

"(2) Securities are exempt securities in relation to Victoria if, and only if, they are securities of a co-operative company that is a company for the purposes of section 9 of the Corporations Law of Victoria and that:

     (a) immediately before the commencement of the Companies Act 1958 of Victoria, was a company to which section 356 of the Companies Act 1938 of Victoria did not apply; or

     (b) immediately before the commencement of the Companies (Application of Laws) Act 1981 of Victoria, was exempted for the time being from the provisions of section 374 of the Companies Act 1961 of Victoria by order of the Governor in Council of Victoria; or

     (c) the regulations declare to be a body to which this subsection applies.

"(3) Subsection (2) does not apply in relation to a body that the regulations declare to be a body to which that subsection does not apply.

"(4) The following are exempt securities in relation to South Australia:

     (a) securities of a building society registered under the Building Societies Act, 1975-1981 of South Australia;

     (b) securities of a credit union registered under the Credit Unions Act, 1976-1980 of South Australia;

SCHEDULE 1—continued

     (c) securities of a society registered under the Friendly Societies Act, 1919-1975 of South Australia.

"(5) The following are exempt securities in relation to the Northern Territory:

     (a) securities of a society within the meaning of the Building Societies Act of the Northern Territory;

     (b) securities of a credit union, or foreign credit union, within the meaning of the Credit Unions Act of the Northern Territory;

     (c) securities of a society registered under the Co-operative Societies Act of the Northern Territory.".

Subsection 71 (2):

  Omit the subsection.

Subsection 71 (3):

  Omit the subsection, substitute:

"(3) The remaining provisions of this subsection apply for the purposes of determining:

     (a) whether or not a person carries on a futures advice business; and

     (b) what constitutes a futures advice business carried on by a person; and

     (c) whether or not a person holds himself, herself or itself out to be a futures adviser.".

Subsection 73 (1):

  Omit the subsection, substitute:

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

  (a) is employed