Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 1 - Preliminary  

REGULATION 7.5.07   MEANING OF SECURITIES BUSINESS : GENERAL  

7.5.07(1)   [ ``securities business'']  

For this Part (other than Subdivision 4.9 ), a securities business is a financial services business of dealing in securities.

7.5.07(2)   [ Whether person carries on securities business, etc]  

Subregulations (4), (5) and (6) 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.

7.5.07(3)   [ Whether person deals in securities]  

Subregulation (6) also applies for the purposes of determining whether or not a person deals in securities.

7.5.07(4)   [ Act done on behalf of person]  

An act done on behalf of the person by:

(a) the holder of a dealers licence; or

(b) an exempt dealer; or

(c) the holder of an Australian financial services licence; or

(d) a person who is exempted from holding an Australian financial services licence by virtue of subsection 911A(2), (2A), (2B), (2C), (2D) or (2E) of the Act;

must be disregarded.

7.5.07(5)   [ Act done while employed by dealer, etc]  

An act that the person does:

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

(b) as an 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;

is to be disregarded.

7.5.07(6)   [ Act constituting dealing in futures contract, etc]  

An act or acts done by the person that constitutes or together constitute a dealing by the person in a futures contract (within the meaning of the old Corporations Act) is or are to be disregarded.