THE CORPORATIONS LAW

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:...

SECTION 93 SECURITIES BUSINESS

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93(1) [Meaning of ``securities business'']

A securities business is a business of dealing in securities.

93(2) (Omitted by No 110 of 1990, Sch 1 (effective 18 December 1990).)

93(3) [Application]

Subsections (5), (6) and (7) apply for the purposes of determining:

(a) whether or not a person carries on, or holds himself, herself or itself out as carrying on, a securities business; and

(b) what constitutes such a business carried on by a person.

93(4) [Application]

Subsection (7) also applies for the purposes of determining whether or not a person deals in securities.

93(5) [Acts done by licensee or exempt dealer]

An act done on behalf of the person by the holder of a dealers licence or an exempt dealer shall be disregarded.

93(6) [Employees]

An act that the person does:

(a) while employed by, or acting for or by arrangement with, a dealer;

(b) as employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the dealer; and

(c) in connection with a securities business carried on by the dealer;

shall be disregarded.

93(7) [Futures contracts]

An act or acts done by the person that constitutes or together constitute a dealing by the person in a futures contract shall be disregarded.