THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.3 - PARTICIPANTS IN THE FUTURES INDUSTRY

Division 4 - Liability of principals for representatives' conduct

SECTION 1186   PRESUMPTIONS ABOUT CERTAIN MATTERS  

1186(1)  [Representative of indemnifying principal]  

Where it is proved, for the purposes of a proceeding in a court, that a person (in this subsection called the ``representative'') engaged in particular conduct, in this jurisdiction or elsewhere, while the person was a representative of:

(a)  only one person (in this subsection called the ``indemnifying principal''); or

(b)  2 or more persons (in this subsection called the ``indemnifying principals'');

then, unless the contrary is proved for the purposes of the proceeding, it shall be presumed for those purposes that the representative engaged in the conduct as a representative of:

(c)  the indemnifying principal; or

(d)  as a representative of some person among the indemnifying principals;

as the case may be.

1186(2)  [Good faith]  

Where, for the purposes of establishing in a proceeding in a court that section 1185 applies, it is proved that a person did, or omitted to do, a particular act because the person believed at a particular time in good faith that certain matters were the case, then, unless the contrary is proved for those purposes, it shall be presumed for those purposes that it is reasonable to expect that a person in the first-mentioned person's circumstances would so believe and would do, or omit to do, as the case may be, that act because of that belief.