Document ID: chunk:federal_register_of_legislation:C2004A02877:body:0:p7
Version: federal_register_of_legislation:C2004A02877
Segment Type: other
Provision Reference: 
Character Range: 15235–17874

but remains a member of 2 or more other stock exchanges,
    the sole trader shall forthwith, by notice in writing, inform each of the stock exchanges of which he is a member of the name of the stock exchange with which he proposes to lodge and maintain his deposit for the purposes of this section.
      "(1b) Where—
         (a) a partnership that is recognized as a member firm by a stock exchange or by 2 or more stock exchanges becomes recognized as a member firm by another stock exchange; or
         (b) a partnership ceases to be recognized as a member firm by a stock exchange but continues to be recognized as a member firm by 2 or more other stock exchanges,
    the partnership shall forthwith, by notice in writing, inform each of the stock exchanges by which it is recognized as a member firm of the name of the stock exchange with which it proposes to lodge and maintain its deposit for the purposes of this section.

      "(1c) In sub-section (1), 'notified stock exchange', in relation to a sole trader or a partnership, means the stock exchange named in notices given by the sole trader or partnership pursuant to sub-section (1a) or (1b), as the case may be, or, where notices have been given by the sole trader or partnership pursuant to that sub-section on 2 or more occasions, in the most recent notices so given.";
     (b) by omitting from sub-section (2) "member firm" and substituting "partnership";
     (c) by omitting sub-section (4) and substituting the following sub-sections:
    "(4) A sole trader that fails to comply with sub-section (1) or (1a) is guilty of an offence.
    Penalty: $5,000 or imprisonment for 1 year, or both.
    "(4a) Where a partnership fails to comply with sub-section (1) or (1b), each partner in the partnership is guilty of an offence.
    Penalty: $5,000 or imprisonment for 1 year, or both."; and
     (d) by adding at the end thereof the following sub-section:
    "(6) A sole trader that is a member of, or a partnership recognized as a member firm by, a stock exchange is not required to comply with this section if, and for so long only as—
         (a) the sole trader is a member of, or the partnership is recognized as a member firm by, a body corporate that is a stock exchange for the purposes of the corresponding law of a participating State or participating Territory; and
         (b) the sole trader or partnership complies with the provisions of the law of that State or Territory that correspond with this section.".

Contributions to fund
15. Section 106 of the Principal Act is amended—
     (a) by adding at the end of sub-section (1) "in relation to that