THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.7 - OFFENCES

Division 1 - Insider dealing

SECTION 1252   PERSON CONNECTED WITH A BODY CORPORATE  

1252(1)  [Connection with body corporate]  

For the purposes of this Division, a person is connected with a body corporate (in this subsection called the ``relevant body corporate'') if the person is a natural person and:

(a)  is an officer of the relevant body corporate or of a related body corporate;

(b)  has a substantial holding in the relevant body corporate or in a related body corporate; or

(c)  occupies a position that may reasonably be expected to give the person access to information of a kind referred to in subsection 1253(1) or (2) by virtue of:

(i) any professional or business relationship existing between the person (or the person's employer or a body corporate of which the person is an officer) and the relevant body corporate or a related body corporate; or

(ii) the person being an officer of a body corporate that has a substantial holding in the relevant body corporate or in a related body corporate.

1252(2)  [``officer'']  

For the purposes of subsection (1), ``officer'', in relation to a body corporate, includes:

(a)  a director, secretary, executive officer or employee of the body corporate;

(b)  a receiver, or a receiver and manager, of property of the body corporate;

(c)  an administrator of the body corporate;

(ca)  an administrator of a deed of company arrangement executed by the body corporate;

(d)  a liquidator of the body corporate; and

(e)  a trustee or other person administering a compromise or arrangement made between the body corporate and another person or other persons.