Futures Industry (Application of Laws) Regulations 1989 (NSW)

WHEREAS it is provided by section 14 of the Futures Industry (Application of Laws) Act 1986 that where, under the Agreement made on 22 December 1978 between the Commonwealth and the States, the Ministerial Council approves proposed Regulations to be made under that Act for certain purposes, the Governor may make those Regulations:

AND WHEREAS the making of the following Regulations is in accordance with that section:

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the Futures Industry (Application of Laws) Act 1986 and all other powers enabling him in that behalf, has been pleased to make the Regulations set forth hereunder.

Minister for Business

and Consumer Affairs.

1Name of Regulations

These Regulations may be cited as the Futures Industry (Application of Laws) Regulations 1989.

2Commencement(1)

In this Regulation:

Commonwealth amending Act means the Co-operative Scheme Legislation Amendment Act 1989 of the Commonwealth.

(2)

Regulation 4 takes effect when section 64 of the Commonwealth amending Act commences.

(3)

Regulation 5 takes effect when section 67 of the Commonwealth amending Act commences.

(4)

Regulation 6 takes effect when section 68 of the Commonwealth amending Act commences.

(5)

Regulation 7 takes effect when section 71 of the Commonwealth amending Act commences.

(6)

Regulation 8 takes effect when section 75 of the Commonwealth amending Act commences.

Editorial note—

Day appointed for the purposes of clauses (2)–(6): 1.11.1989—see Commonwealth Gazette No S 345 1989.

3Definition of “the Act”

In these Regulations:

the Act means the Futures Industry (Application of Laws) Act 1986.

4Amendment of Schedule 1 to the Act (clause 2)

Schedule 1 to the Act is amended:

• (a)

  by inserting before clause 2 (a) the following paragraph:

• (aa)

  in the definition of Australian company law:

  • (i)

    for paragraph (b) there were substituted the following paragraph:

  • (b)

    a law, or a previous law, of another State or of a Territory,

  • (ii)

    for the words “that Act” there were substituted the words “that Code”,

• (b)

  by omitting from clause 2 (d) the words “local recognised futures exchange” and by inserting instead the word “lodge”.

5Amendment of Schedule 1 to the Act (clause 5A)

Schedule 1 to the Act is amended by inserting after clause 5 the following clause:

5A

in section 10 (8) of the Commonwealth Act after the matter “the Act 1989” there were inserted the words “of the Commonwealth”.

6Amendment of Schedule 1 to the Act (clause 6A)

Schedule 1 to the Act is amended by inserting after clause 6 the following clause:

6A

in section 11 (c) (ii) of the Commonwealth Act for the words “law of that State or Territory” there were substituted the words “law in force in that State or Territory”.

7Amendment of Schedule 1 to the Act (clauses 14, 14A)

Schedule 1 to the Act is amended by omitting clause 14 and by inserting instead the following clauses:

14

in section 65 (3) of the Commonwealth Act after the matter “Act 1989” there were inserted the words “of the Commonwealth”.

14A

in section 69 (b) of the Commonwealth Act after the matter “Act 1989” there were inserted the words “of the Commonwealth”.

8Amendment of Schedule 1 to the Act (clauses 14B, 14C)

Schedule 1 to the Act is amended by inserting before clause 15 the following clauses:

14B

in section 80D (5) (b) for the words “law of that State or Territory” there were inserted the words “law in force in that State or Territory”.

14C

in section 80S (1) after the matter “Act 1989” there were inserted the words “of the Commonwealth”.