THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

Division 3 - Representatives

SECTION 810   LICENSEE TO KEEP REGISTER OF HOLDERS OF PROPER AUTHORITIES  

810(1)  [Licensee to establish register]  

A licensee must establish a register of the persons who hold proper authorities from the licensee and must keep it in accordance with this section.

810(2)  [Form of register]  

The register shall be in writing or in such other form as the Commission approves.

810(3)  [Particulars in register]  

The register shall contain, in relation to each person (if any) who holds a proper authority from the licensee:

(a)  a copy of the proper authority;

(b)  the person's name;

(c)  the person's current residential address;

(d)  unless the person's current business address is the same as the licensee's - the person's current business address; and

(e)  any other prescribed information.

810(4)  [Time for including copy of authority]  

A copy of a proper authority of a person from the licensee that subsection (3) provides for the register to contain shall be included in the register within 2 business days after the person begins to hold that proper authority.

810(5)  [Time for including information]  

Information that subsection (3) provides for the register to contain in relation to a person shall be entered in the register within 2 business days after:

(a)  the person begins to hold a proper authority from the licensee; or

(b)  the licensee receives the information;

whichever happens later.

810(6)  [Entries on ceasing to hold authority]  

Within 2 business days after a person ceases to hold a proper authority from the licensee, the licensee shall:

(a)  in any case:

(i) include, in a part of the register separate from the part in which copies of proper authorities are included under subsection (4); and

(ii) remove from the last-mentioned part;

the copy of the proper authority that was included in the last-mentioned part; and

(b)  unless, at the end of those 2 business days, the person again holds a proper authority from the licensee:

(i) enter, in a part of the register separate from the part in which information is entered under subsection (5); and

(ii) remove from the last-mentioned part;

the information that has been entered in the last-mentioned part in relation to the person.

810(7)  [Effect of information that authority ceased]  

Information that has been entered under paragraph (6)(b) in a separate part of the register shall be deemed for the purposes of subsections (3) and (5) not to be contained or entered in the register.

810(8)  [Continuation of existing register]  

Where a licensee whom subsection (1) requires to establish a register already keeps one under this section or a corresponding previous law, the licensee need not establish a new register but must keep the existing one in accordance with this section.