THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

Division 1 - Dealers and investment advisers and operators of managed investment schemes

SECTION 780   DEALERS  

780(1)  (Licence required)  

A person must not:

(a)  carry on a securities business; or

(b)  hold out that the person carries on a securities business;

unless the person holds a dealers licence or is an exempt dealer.

780(2)  (What licence authorises a person to do)  

A dealers licence may authorise a person to do either or both of the following:

(a)  to carry on a securities business

(b)  to operate:

(i) a managed investment scheme; or
(ii) managed investment schemes of a particular kind.
Note:

Only public companies that hold a dealers licence can be responsible entities for registered managed investment schemes (see section 601FA).


 

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