Securities Industry Act Amendment Act 1978 (Qld)

21$ QutettShntbc ANNO VICESIMO SEPTIMO ELIZABETHAE SECUNDAE REGINAE No. 25 of 1978 An Act to amend the Securities IndustryAct 1975 in certain particulars ASSENTED TO 2ND JUNE, 1978] BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title and citation . (1) This Act may be cited as the Securities Industry Act Amendment Act 1978. (2) The Securities Industry Act 1975 is in this Act referred to as the Principal Act. (3) The Principal Act as amended by this Act may be cited as the Securities Industry Act1975-1978. 2. Commencement . This Act shall commence on a date appointed by Proclamation. 3. Amendment of s. 97. Section 97 of the Principal Act is amended by- (a) in subsection (1), in paragraph (a), inserting after the word " exchange " the words " who is a sole trader and ";

Securities Industry Act Amendment Act 1978, No. 25 219 (b) in subsection (2), omitting the words " exchange or " and substituting the words " exchange who is a sole trader or being "; (c) in subsection (3), (i) inserting after the word " the " where secondly occurring the word "total"; (ii) omitting paragraphs (a) and (b) and substituting the following paragraphs:- (a) for the purpose of compensating pecuniary loss as referred to in subsection (1); or (b) for the purpose of paying amounts under subsection (2),"; (iii) omitting the words " or member firm " and substituting the words " who is a sole trader or in respect of a member firm ". 4. Amendment of s. 106 . Section 106 of the Principal Act is amended by, in subsection (2)- (a) omitting the words "member of a stock exchange" and substituting the words " sole trader "; (b) omitting the words " member or partner " and substituting the words " sole trader or member firm "; (c) omitting the words " those defalcations or fraudulent misuses of property " and substituting the words " defalcations or fraudulent misuses of property by or in connexion with that sole trader or member firm ".