Document ID: chunk:federal_register_of_legislation:C2004A03315:body:0:p5
Version: federal_register_of_legislation:C2004A03315
Segment Type: other
Provision Reference: 
Character Range: 10268–12966

of a dealers licence or in relation to a business of dealing in securities that is carried on by such a company.".

Removal and resignation of auditors
15. Section 76 of the Principal Act is amended—
    (a) by omitting sub-section (7); and
    (b) by omitting sub-section (9) and substituting the following sub-sections:
    "(9) This section does not apply in relation to a body corporate (other than an exempt proprietary company) in relation to which section 282 of the Companies Act 1981, or a provision of a law of a participating State or participating Territory that corresponds with that section, applies.
    "(10) In sub-section (9), 'exempt proprietary company' means a body corporate that is an exempt proprietary company within the meaning of the Companies Act 1981 or of the provisions of a law of a participating State or participating Territory that correspond with that Act.".
16. After section 103 of the Principal Act the following section is inserted:

Payment to the credit of the fidelity fund of a futures exchange or futures association
"103a. Where a body corporate that is a securities exchange, or that is related to a securities exchange, becomes a relevant organisation for the purposes of Part VII of the Futures Industry Act 1986, or for the purposes of the provisions of a law of a participating State or participating Territory that correspond with that Part—
    (a) the Ministerial Council may approve in writing, on such conditions (if any) as are specified in the approval—
           (i) the payment of an amount so specified out of the fidelity fund kept under this Part by the body corporate, or by the securities exchange, as the case may be; and
           (ii) the payment of that amount to the credit of the fidelity fund established or to be established by the body corporate under that Part, or under those provisions, as the case may be; and
    (b) if the Ministerial Council does so, the amount so specified shall, in accordance with the conditions (if any) so specified—
           (i) be paid out of the fidelity fund referred to in sub-paragraph (a) (i); and
           (ii) be paid to the credit of the fidelity fund referred to in sub-paragraph (a) (ii).".

Restrictions on use of titles "stockbroker", "sharebroker" and "stock exchange"
17. Section 133 of the Principal Act is amended by adding the following at the end of sub-section (2):
    "Penalty: $2,500 or imprisonment for 6 months, or both.".

NOTES
 1. No. 64, 1980, as amended. For previous amendments, see Nos. 2, 94 and 153, 1981; No. 26, 1982; No. 108, 1983; No. 192, 1985; and No. 68, 1986.
 2. No. 173, 1979, as amended. For previous amendments, see Nos. 1 and 153, 1981; No.