Futures Industry Regulations (Amendment) (Cth)

Statutory Rules 1989 No 3711

Futures Industry Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, being advice that is consistent with resolutions of the Ministerial Council for Companies and Securities, hereby make the following Regulations under the Futures Industry Act 1986.

Dated 14 December 1989.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

Lionel Bowen

Attorney-General

 

Principal Regulations

1. In these Regulations, “Principal Regulations” means the Futures Industry Regulations.

2. After Regulation 17 of the Principal Regulations, the following regulation is inserted:

Conditions of licence: general

“18. (1) For the purposes of section 69 of the Act, a licence is subject to the conditions that the holder of the licence must ensure that each representative of the holder:

(a) is adequately supervised in the performance of the duties that he or she is required by the holder to perform; and

(b) is sufficiently trained in relation to those duties before acting as a representative; and

 

(S.R. 402/89)—Cat. No. 14/29.11.1989

(c) keeps up to date in relation to those duties by means of continuing training programs.

“(2) The Commission may, by notice in writing, require a holder of a licence to satisfy it that the conditions referred to in subregulation (1) have been met by the holder.”.

3. After regulation 22 of the Principal Regulations, the following regulations are inserted:

Register of holders of proper authorities

“22a. For the purposes of paragraph 78e (3) (e) of the Act, the information specified in items 1, 2, 3 and 5 in Form 10c is prescribed.

Forms of notice by licensee to Commission

“22b. (1) A notice under subsection 78f (2) or (3) of the Act must be in accordance with Form 10a.

“(2) A notice under subsection 78f (4) or (6) of the Act must be in accordance with Form 10b.

“(3) A notice under subsection 78f (5) of the Act must be in accordance with Form 10c.”.

Schedule 2

4. Schedule 2 to the Principal Regulations is amended by inserting after Form 10 the forms set out in the Schedule to these Regulations.

 

SCHEDULE Regulation 4

FUTURES INDUSTRY FORM 10A Subsections 78f (2)

and (3)

Subregulation 22b (1)

Futures Industry Act 1986

NOTICE OF *PLACE/*CHANGE OF PLACE WHERE REGISTER OF HOLDERS OF PROPER AUTHORITIES IS KEP

Note: Before completing this notice please read carefully the “Directions for completing Form 10A” at the end of this form

*1. The surname and other names of the person keeping the register are:

and in this notice that person is referred to as “the register keeper” (if the register keeper holds the licence referred to in item 2 under another name, that name should be specified in this item).

* 1. The name of the body corporate keeping the register is:

and in this notice is referred to as “the register keeper”.

2. The licence held by the register keeper is a *futures brokers/*futures advisers licence and its number is:

3. The full address (including the State or Territory and postcode) of the principal place at which the business of the register keeper is carried on is:

4. The register has been kept since:

(insert date on which the keeping of the register began).

*5. The register is kept at:

*5. On / /19 the place, at which the register was kept changed

from:

to:

Dated 19 .

(Signature of *the register keeper/*director/ *secretary/*principal executive officer of the register keeper)

 

DIRECTIONS FOR COMPLETING FORM 10A

Persons who must lodge notice

1. The notice must be lodged by licensed futures brokers and futures advisers:

(a) within 14 days after establishing a register under section 78e of the Act; and

(b) as soon as practicable after changing the place at which the register is kept;

in accordance with subsection 78f (2) or (3) of the Act.

Omission of inapplicable matter prefixed by an asterisk

2. Inapplicable matter in a notice that is prefixed by the symbol “*” is to be omitted.

Separate annexures to be used where insufficient space on notices

3. If there is insufficient space on a notice in which to give the required information, the information is to be shown in a separate annexure. Requirements relating to annexures are set out in regulation 5.

 

SCHEDULE—continued

FUTURES INDUSTRY FORM 10B Subsections 78f (4)

and (6)

Subregulation 22b (2)

Futures Industry Act 1986

NOTICE OF *HOLDING/*CEASING TO HOLD A PROPER AUTHORITY

Note: Before completing this notice please read carefully the “Directions for completing Form 10B” at the end of this form

*1. The surname and other names of the person keeping the register are:

and in this notice that person is referred to as “the register keeper” (if the register keeper holds the licence referred to in item 3 under another name, that name should be specified in this item).

*1. The name of the body corporate keeping the register is:

and in this notice is referred to as “the register keeper”.

2. The full address (including the State or Territory and postcode) of the principal place at which the business of the licensee is carried on is:

3. The licence held by the register keeper is a *futures brokers/*futures advisers licence and its number is:

4. The surname and other names of the person *holding/*ceasing to hold a proper authority from the register keeper are:

and in this notice that person is referred to as “the representative”.

5. On / /19 the representative *commenced to hold a proper authority/*ceased to hold a proper authority.

Dated 19 .

(Signature of *the register keeper/*director/ *secretary/*principal executive officer of the register keeper)

 

DIRECTIONS FOR COMPLETING FORM 10B

Persons who must lodge notice

1. The notice must be lodged by licensed futures brokers and futures advisers within 2 business days after the day on which a person:

(a) begins to hold a proper authority; or

(b) ceases to hold a proper authority;

in accordance with subsection 78f (4) or (6) of the Act.

Copy of proper authority to be lodged with notice

2. Paragraph 78f (4) (a) of the Act requires a copy of the proper authority relating to a notice to be lodged with the notice.

Omission of inapplicable matter prefixed by an asterisk

3. Inapplicable matter in a notice that is prefixed by the symbol “*” is to be omitted.

Separate annexures to be used where insufficient space on notices

4. If there is insufficient space on a notice in which to give the required information the information is to be shown in a separate annexure. Requirements relating to annexures are set out in regulation 5.

  

SCHEDULE—continued

FUTURES INDUSTRY FORM 10C Subsection 78f (5)

Subregulation 22b (3)

Futures Industry Act 1986

NOTICE OF PARTICULARS OF HOLDERS OF PROPER AUTHORITIES TO BE ENTERED IN REGISTER OF HOLDERS OF PROPER AUTHORITIES

Note: Before completing this notice please read carefully the “Directions for completing Form 10C” at the end of this form

*1. The surname and other names of the person keeping the register are:

and in this notice that person is referred to as “the register keeper” (if the register keeper holds the licence referred to in item 3 under another name, that name should be specified in this item).

* 1. The name of the body corporate keeping the register is:

and in this notice is referred to as “the register keeper”.

2. The full address (including the State or Territory and postcode of the principal place at which the business of the register keeper is carried on is:

3. The licence held by the register keeper is a *futures brokers/*futures advisers licence and its number is:

4. The surname and other names of the person holding a proper authority from the register keeper are:

and in this notice that person is referred to as “the representative”.

5. On / /19  the representative commenced to hold a proper authority.

6. The full residential address of the representative (including the State or Territory and postcode) is:

7. The full address (where this is not the address of the register keeper), including the State or Territory and postcode, at which the representative carries on business is:

8. The above information has been, or is to be, entered in the register.

Dated 19 .

(Signature of *the register keeper/*director/ *secretary/*principal executive officer of the register keeper)

 

DIRECTIONS FOR COMPLETING FORM 10C

Persons who must lodge notice

1. The notice must be lodged by futures brokers and futures advisers within 2 business days after.

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

(b) the record keeper receives the information;

whichever happens last, in accordance with subsection 78f (5) of the Act.

Omission of inapplicable matter prefixed by an asterisk

2. Inapplicable matter in a notice that is prefixed by the symbol “*” is to be omitted.

Separate annexures to be used where insufficient space on notices

3. If there is insufficient space on a notice in which to give the required information, the information is to be shown in a separate annexure. Requirements relating to annexures are set out in regulation 5.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 21 December1989.

2. Statutory Rules 1986 No. 150 as amended by 1987 No. 111; 1988 No. 341: 1989 No. 300.

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