THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.2 - FUTURES EXCHANGES, CLEARING HOUSES AND FUTURES ASSOCIATIONS

Division 1 - Futures exchanges and exempt futures markets

SECTION 1127   EXEMPT FUTURES MARKET  

1127(1)  [Exempt futures market]  

The Minister may by writing declare a specified futures market to be, subject to any specified conditions, an exempt futures market.

1127(1A)  [Contravention of conditions prohibited]  

A person must not contravene a condition specified in a declaration in force under this section.

1127(1B)  [Person may be ordered to comply with condition]  

If a person has contravened a condition specified in a declaration in force under this section, the Court may, on the Commission's application, order the person to comply with the condition.

1127(2)  [Breach of condition]  

Without limiting the matters to which the Minister may have regard in considering whether to vary or revoke a declaration in force under this section, he or she may, in so considering, have regard to a breach of a condition specified in the declaration.

1127(3)  [Declaration by Ministerial Council]  

A declaration by the Ministerial Council, under a previous law of this jurisdiction corresponding to subsection (1), of a futures market as an exempt futures market, being a declaration that was in force immediately before the commencement of this Part, has effect as if it were a declaration by the Minister under that subsection.