THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.11 - CONDUCT IN RELATION TO SECURITIES

Division 2A - Insider trading

SECTION 1002S   TRANSACTIONS BY HOLDER OF DEALERS LICENCE OR A REPRESENTATIVE OF THE HOLDER OF SUCH A LICENCE  

1002S    A person (in this section called the ``agent'' ) does not contravene subsection 1002G(2) by subscribing for, purchasing or selling, or entering into an agreement to subscribe for, purchase or sell, securities of a body corporate that are permitted by a securities exchange to be traded on the stock market of that securities exchange if:

(a)  the agent is the holder of a dealers licence or a representative of the holder of such a licence; and

(b)  the agent entered into the transaction or agreement concerned on behalf of another person (in this section called the ``principal'' ) under a specific instruction by the principal to enter into that transaction or agreement; and

(c)  the holder of the dealers licence had in operation at the time when that transaction or agreement was entered into arrangements that could reasonably be expected to ensure that any information in the possession of the holder or of any representative of the holder as a result of which the person in possession of the information would be prohibited by subsection 1002G(2) from entering into that transaction or agreement was not communicated to the agent and that no advice with respect to the transaction or agreement was given to the principal or to the agent by a person in possession of the information; and

(d)  the information was not so communicated and no such advice was so given; and

(e)  the principal is not an associate of the holder or of any representative of the holder;

but nothing in this section affects the application of subsection 1002G(2) in relation to the principal.