Document ID: chunk:federal_register_of_legislation:C2004A03315:body:0:p2
Version: federal_register_of_legislation:C2004A03315
Segment Type: other
Provision Reference: 
Character Range: 2733–5578

Interpretation
6. Section 3 of the Principal Act is amended by inserting after the definition of "functions" in sub-section (1) the following definition:
    " 'futures contract' means a futures contract within the meaning of the Futures Industry Act 1986 or of the provisions of a law of a participating State or participating Territory that correspond with that Act;".

Functions and powers of Commission
7. Section 6 of the Principal Act is amended by omitting from sub-section (3) "or the regulation of the securities industry" and substituting ", the regulation of the securities industry or the regulation of the futures industry".

Register of financial interests
8. Section 19 of the Principal Act is amended—
    (a) by omitting sub-section (2) and substituting the following sub-section:
       "(2) For the purposes of this section—
       (a) a person has a financial interest if, and only if, the person—

           (i) is a director of a body corporate;
           (ii) has a relevant interest in securities other than securities of a government, of a government authority or of a local government authority; or
           (iii) has a relevant interest in a futures contract; and
       (b) the question whether a person has a relevant interest in securities, or in a futures contract, shall be determined as prescribed."; and
    (b) by inserting in paragraph (9) (b) ", or in a futures contract" after "securities".

Restrictions on dealings in securities and futures contracts
9. Section 48 of the Principal Act is amended—
    (a) by omitting sub-sections (1) and (2) and substituting the following sub-sections:
       "(1) A person who—
       (a) is, or has at any time been—
           (i) appointed for the purposes of this Act or any other prescribed Act;
           (ii) engaged as a member of the staff of the Commission; or
           (iii) authorised to perform or exercise any function or power of the Commission or any function or power on behalf of the Commission; and
       (b) has, by reason that the person is, or has at any time been, so appointed, engaged or authorised, information that is not generally available but, if it were, would be likely materially to affect—
           (i) the price of securities; or
           (ii) the price for dealing in a futures contract,
    shall not—
       (c) in a case where sub-paragraph (b) (i) applies—deal in, or cause or procure any other person to deal in, those securities; or
       (d) in a case where sub-paragraph (b) (ii) applies—deal in, or cause or procure any other person to deal in, that futures contract or a futures contract of the same kind as that futures contract.
    Penalty: $20,000 or imprisonment for 5 years.
    "(2) Where a person to whom sub-section (1) applies has information as mentioned in that sub-section and, in contravention of