THE CORPORATIONS LAW

CHAPTER 1 - INTRODUCTORY

PART 1.2 - INTERPRETATION

Division 4 - Dealing in futures contracts

SECTION 24   DISPOSING OF A FUTURES CONTRACT  

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24(1)  [Disposal of futures contract]  

A person disposes of a futures contract (other than a futures option or an eligible exchange-traded option) if, and only if, the person takes, or causes to be taken, such action as closes out the futures contract, whether or not the action is taken on another's behalf.

24(2)  [Futures option or eligible exchange-traded option]  

A person disposes of a futures option or an eligible exchange-traded option if, and only if, the person:

(a)  grants, assigns or exercises the option;

(b)  takes, or causes to be taken, such action as releases the option; or

(c)  allows the option to lapse;

whether or not on another's behalf.

24(3)  [Sections 26 and 27]  

This section has effect subject to sections 26 and 27.

 

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