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 3 - Representatives

SECTION 810 LICENSEE TO KEEP REGISTER OF HOLDERS OF PROPER AUTHORITIES

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810(1) [Licensee to establish register]

A licensee must establish a register of the persons who hold proper authorities from the licensee and must keep it in accordance with this section.

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810(2) [Form of register]

The register shall be in writing or in such other form as the Commission approves.

810(3) [Particulars in register]

The register shall contain, in relation to each person (if any) who holds a proper authority from the licensee:

(a) a copy of the proper authority;

(b) the person's name;

(c) the person's current residential address;

(d) unless the person's current business address is the same as the licensee's - the person's current business address; and

(e) any other prescribed information.

810(4) [Time for including copy of authority]

A copy of a proper authority of a person from the licensee that subsection (3) provides for the register to contain shall be included in the register within 2 business days after the person begins to hold that proper authority.

810(5) [Time for including information]

Information that subsection (3) provides for the register to contain in relation to a person shall be entered in the register within 2 business days after:

(a) the person begins to hold a proper authority from the licensee; or

(b) the licensee receives the information;

whichever happens later.

810(6) [Entries on ceasing to hold authority]

Within 2 business days after a person ceases to hold a proper authority from the licensee, the licensee shall:

(a) in any case:

(i) include, in a part of the register separate from the part in which copies of proper authorities are included under subsection (4); and

(ii) remove from the last-mentioned part;

the copy of the proper authority that was included in the last-mentioned part; and

(b) unless, at the end of those 2 business days, the person again holds a proper authority from the licensee:

(i) enter, in a part of the register separate from the part in which information is entered under subsection (5); and

(ii) remove from the last-mentioned part;

the information that has been entered in the last-mentioned part in relation to the person.

810(7) [Effect of information that authority ceased]

Information that has been entered under paragraph (6)(b) in a separate part of the register shall be deemed for the purposes of subsections (3) and (5) not to be contained or entered in the register.

810(8) [Continuation of existing register]

Where a licensee whom subsection (1) requires to establish a register already keeps one under this section or a corresponding previous law, the licensee need not establish a new register but must keep the existing one in accordance with this section.

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