THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 7 - SECURITIES
PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY
Division 3 - Representatives
SECTION 815 COMMISSION MAY GIVE LICENSEE INFORMATION ABOUT REPRESENTATIVE 815(1) [When information can be given] Where the Commission believes on reasonable grounds that: (a) a person (in this section called the holder ) holds, or will hold, a proper authority from a licensee; (b) having regard to that fact, the Commission should give to the licensee particular information that the Commission has about the person; and (c) the information is true; the Commission may give the information to the licensee. 815(2) [Licensee's use of information] Where the Commission gives information under subsection (1), the licensee or an officer of the licensee may, for a purpose connected with: (a) the licensee making a decision about what action (if any) to take in relation to the holder, having regard to, or to matters including, the information; or (b) the licensee taking action pursuant to such a decision; or for 2 or more such purposes, and for no other purpose, give to another person, make use of, or make a record of, some or all of the information. 815(3) [Other person's use of information] A person to whom information has been given, in accordance with subsection (2) or this subsection, for a purpose or purposes may, for that purpose or one or more of those purposes, and for no other purpose, give to another person, make use of, or make a record of, that information. 815(4) [Restrictions on use of information] Subject to subsections (2) and (3), a person shall not give to another person, make use of, or make a record of, information given by the Commission under subsection (1). 815(4A) [Non-application of sec 8(3)] Subsection 8(3) does not apply in relation to a reference in subsection (2), (3) or (4) of this section to a provision of this section.(i) the licensee making a decision about what action (if any) to take in relation to the holder, having regard to, or to matters including, some or all of the information;
(ii) the licensee taking action pursuant to such a decision; or
(iii) proving in a proceeding in that court that particular action taken by the licensee in relation to the holder was so taken pursuant to such a decision;or for 2 or more such purposes, and for no other purpose; (d) in a proceeding in that court, in so far as the proceeding relates to an alleged contravention of this section; (e) in a proceeding in respect of an ancillary offence relating to an offence against this section; or (f) in a proceeding in respect of the giving to a court of false information being or including some or all of the first-mentioned information. 815(7) [Reference to ``taking action''] A reference in this section to a person taking action in relation to another person is a reference to the first-mentioned person: (a) taking action by way of making, terminating or varying the terms and conditions of a relevant agreement; or (b) otherwise taking action in relation to a relevant agreement; in so far as the relevant agreement relates to the other person being employed by, or acting for or by arrangement with, the first-mentioned person in connection with a securities business or investment advice business carried on by the first-mentioned person.
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