THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

CHAPTER 1 - INTRODUCTORY

PART 1.2 - INTERPRETATION

Division 7 - Interpretation of other expressions

SECTION 73 FUTURES REPRESENTATIVES

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73(1) [Meaning of ``futures representative'']

Subject to subsection (2), a person is a futures representative of another person if, and only if, the first-mentioned person:

(a) is employed by; or

(b) acts for or by arrangement with;

the other person in connection with a futures broking business or futures advice business carried on by the other person.

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73(2) [Holding of authority]

Except for the purposes of paragraph 87(1)(b):

(a) a person who holds a proper authority from a futures licensee is a futures representative of the licensee; and

(b) a person who holds an invalid futures authority from another person is a futures representative of the other person.

73(3) [Acts or conduct as representative]

Subject to subsection (4), a person does an act, or engages in conduct, as a futures representative of another person if, and only if, the first-mentioned person does the act, or engages in the conduct:

(a) in connection with a futures broking business or futures advice business carried on by the other person;

(b) while the first-mentioned person is a futures representative of the other person;

(c) as employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the other person; and

(d) otherwise than in the course of work of a kind ordinarily done by accountants, clerks or cashiers.

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73(4) [Holding out to be representative]

Except for the purposes of Division 4 of Part 8.3, a person who holds himself, herself or itself out to be a futures representative of another person does an act as a futures representative of the other person.

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