CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 8 - THE FUTURES INDUSTRY
PART 8.5 - FINANCIAL STATEMENTS AND AUDIT
History
Part 8.5 heading substituted by No 61 of 1998, Sch 2, Pt 4
(effective 1 July 1998).
SECTION 1221
CERTAIN MATTERS TO BE REPORTED TO COMMISSION
1221(1)
[Futures exchange to report on prescribed matter]
Where, in relation to a futures broker who is a member of a futures exchange, the futures exchange becomes aware of a prescribed matter, the futures exchange shall, as soon as practicable after becoming aware of the matter, lodge a written report on the matter and send a copy of the report to the broker.
1221(2)
[Application of subsec (1)]
Subsection
(1) applies:
(a)
in relation to a clearing house for a futures exchange and a member of the clearing house; and
(b)
in relation to a futures association and a member of the futures association (unless the futures association is also a futures exchange);
in the same manner as it applies in relation to a futures exchange and a member of the futures exchange.
1221(3)
[``prescribed matter'']
In this section, ``prescribed matter'', in relation to a futures broker, means a matter that, in the opinion of the futures exchange, clearing house or futures association concerned:
(a)
has adversely affected, is adversely affecting, or may adversely affect, the ability of the broker to meet the broker's obligations as a broker;
(b)
constitutes or may constitute a contravention of section
1209,
1213 or
1214;
(c)
constitutes or may constitute a contravention of a condition of a licence held by the broker; or
(d)
constitutes a failure to make, in accordance with
Part 8.6, contributions to a fidelity fund.