THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 1 - Interpretation

SECTION 921   EXCLUDED PERSONS  

921(1)  [Definition of ``excluded person'']  

In this Part, ``excluded person'' , in relation to a member of a participating exchange, means:

(a)  in any case - the member;

(b)  if the member is a member organisation of the participating exchange and is not a body corporate:

(i) a person who is the spouse, or who is a relative, of the member;

(ii) a trustee of a trust in relation to which the member or a person of a kind referred to in subparagraph (i) is capable of benefiting; or

(iii) a body corporate of which the member is an officer, or in which the member or a person of a kind referred to in subparagraph (i) has, or the member and such a person, the member and 2 or more such persons, or 2 or more such persons, together have, a controlling interest;

(c)  if the member is a member organisation of the participating exchange and is a body corporate:

(i) a person who is an officer of the body corporate;

(ii) a body corporate that is related to the first-mentioned body corporate;

(iii) a person who is the spouse, or who is a relative, of a person of a kind referred to in subparagraph (i);

(iv) a trustee of a trust in relation to which a person of a kind referred to in subparagraph (i) or (iii) is capable of benefiting; or

(v) a body corporate in which a person of a kind referred to in subparagraph (i) or (iii) has, or 2 or more such persons together have, a controlling interest;

(d)  if the member is a partner in a member organisation of the participating exchange and is not a body corporate:

(i) a person who is a partner in the member organisation;

(ii) a person who is the spouse, or who is a relative, of a partner (not being a body corporate) in the member organisation;

(iii) a trustee of a trust in relation to which a person of a kind referred to in subparagraph (i) or (ii) is capable of benefiting;

(iv) a person who is an officer of a body corporate that is a partner in the member organisation; or

(v) a body corporate of which a person of a kind referred to in subparagraph (i), (ii) or (iii) is an officer, or in which such a person has, or 2 or more such persons together have, a controlling interest; or

(e)  if the member is a partner in a member organisation of the participating exchange and is a body corporate:

(i) a person who is an officer of a body corporate that is a partner in the member organisation;

(ii) a body corporate that is related to the first-mentioned body corporate;

(iii) a person who is a partner in the member organisation;

(iv) a person who is the spouse, or who is a relative, of a person (other than a body corporate) of a kind referred to in subparagraph (i) or (iii);

(v) a trustee of a trust in relation to which a person of a kind referred to in subparagraph (i), (iii) or (iv) is capable of benefiting; or

(vi) a body corporate in which a person of a kind referred to in subparagraph (i), (iii) or (iv) has, or 2 or more such persons together have, a controlling interest.

921(2)  [Relative of spouse]  

A reference in subsection (1) to a relative of a person includes a reference to a relative of the spouse (if any) of the person.

921(3)  [Officer of body corporate]  

A reference in subsection (1) to an officer of a body corporate is a reference to:

(a)  a director, secretary or executive officer of the body corporate; or

(b)  a person who is an officer of the body corporate by virtue of paragraph (b), (c), (d) or (e) of the definition of ``officer'' in section 9.