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 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

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

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History

Div heading amended by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).

SECTION 780   DEALERS  

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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.

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History

S 780(1) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

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

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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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History

S 780(2) inserted by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).

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