THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.7 - OFFENCES

Division 2 - General

SECTION 1264   FRAUD IN CONNECTION WITH DEALINGS IN FUTURES CONTRACTS  

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1264    Where, in connection with a dealing or proposed dealing in a futures contract by a futures broker on behalf of a client of the broker, a person who:

(a)  is the broker or an employee or agent of the broker; or

(b)  has an interest, or is otherwise concerned in, the dealing or proposed dealing;

does any of the following:

(c)  defrauds the client;

(d)  does an act, or omits to do an act, knowing that the client will be deceived or misled, or with reckless indifference as to whether or not the client will be deceived or misled, as a result of the act or omission;

(e)  (without limiting the generality of paragraph (d)) makes a statement, promise or forecast to the client, or makes an entry in a record relating to the client or persons including the client:

(i) knowing that the statement, promise, forecast or entry is false, misleading or deceptive in a material particular; or
(ii) with reckless indifference as to whether or not the statement, promise, forecast or entry is false, misleading or deceptive in a material particular;

the person contravenes this section.

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