Document ID: chunk:federal_register_of_legislation:C2004A03231:schedule:1:p3
Version: federal_register_of_legislation:C2004A03231
Segment Type: schedule
Provision Reference: sch 1 (pt 3/23)
Character Range: 225796–228649

in the exercise of a power by a person to whom that power has been delegated by the Commission under sub-section (1a) shall be deemed to have been done by the Commission.";
     (c) by inserting in sub-sections (7), (8), (10) and (13) "or (1a)" after "(1)"; and
     (d) by omitting from paragraph (13) (a) "paragraph 38 (1) (e) ' and substituting "paragraphs 38 (1) (e) and (f)".

Repeal of section 50
163. Section 50 of the Principal Act is repealed.

PART VII—AMENDMENTS OF SECURITIES INDUSTRY ACT 1980

Principal Act
164. The Securities Industry Act 19806 is in this Part referred to as the Principal Act.

Interpretation
165. (1) Section 4 of the Principal Act is amended—
     (a) by inserting after the definition of "accounting records" in sub-section (1) the following definition:
         "'approved securities organisation' means a body corporate that is approved by the Ministerial Council under section 38a;";
     (b) by inserting "or" after "1959;" in paragraph (a) of the definition of "banking corporation" in sub-section (1);
     (c) by omitting paragraph (b) of the definition of "banking corporation" in sub-section (1);
     (d) by omitting "and" (last occurring) from paragraph (a) of the definition of "director" in sub-section (1);
     (e) by adding at the end of the definition of "director" in sub-section (1) the following word and paragraph:
         "and (c) in the case of a body corporate incorporated or formed outside the Territory—
             (i) a member of the committee of management, council or other governing body of the body corporate;
             (ii) any person occupying or acting in the position of member of the committee of management, council or other governing body of the body corporate, by whatever name called and whether or not validly appointed to occupy or duly authorised to act in the position; and
             (iii) any person in accordance with whose instructions the members of the committee of management, council or other governing body of the body corporate are accustomed to act;";
     (f) by omitting from sub-paragraph (c) (iv) of the definition of "exempt dealer" in sub-section (1) "or" (last occurring);
     (g) by adding at the end of the definition of "exempt dealer" in sub-section (1) the following word and paragraph:
         "; or (e) a person who, as Public Trustee, carries on a business of dealing in securities by virtue of that person's powers under the Public Trustee Ordinance 1985";

     (h) by inserting after the definition of "exempt dealer" in sub-section (1) the following definition:
         "'exempt stock market' means a stock market in relation to which, or a stock market included in a class of stock markets, being a class in relation to which, a declaration under sub-section 37 (1a) is in force;";
         (j) by omitting ", the Primary Industry