Securities Industry Regulations (Amendment) (Cth)

Statutory Rules 1988 No. 2631

 

Securities Industry Regulations2

(Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Securities Industry Act 1980.

Dated 27 October 1988.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

 

Michael Tate

Minister of State for Justice for and on behalf of the

Attorney-General

 

Interpretation

Regulation 2 of the Securities Industry Regulations is amended by inserting the following definitions:

“ ‘franchise’ means a contract, agreement or arrangement, whether express or implied, oral or written, between 2 or more persons by which:

(a) a party to the contract, agreement or arrangement (in this definition referred to as ‘the franchisor’) authorises or permits another party (in this definition referred to as ‘the franchisee’), or a person associated with the franchisee, to exercise the right to engage in the business of offering, selling or distributing goods or services in Australia, or in an external Territory of Australia, under a marketing plan or system controlled by the franchisor or a person associated with the franchisor;

(b) the business carried on by the franchisee or the person associated with the franchisee, as the case may be, is, or is capable of being, identified by the public as being substantially associated with a mark identifying, commonly connected with or controlled by the franchisor or a person associated with the franchisor;

 

(S.R. 229/88)—Cat. No. 15/8.8.1988

 

(c) the franchisor exerts, or has authority to exert, a significant degree of control over that business, including, but not limited to, control over the organisation, promotional activities, management, marketing plan or the affairs of that business; and

(d) it may reasonably be expected that, in carrying on that business, the franchisee or a person associated with the franchisee is, or will be, substantially dependent on goods or services supplied by the franchisor or a person associated with the franchisor;

‘mark’ includes a symbol, design, colour, device, brand, heading, label, ticket, name, signature, word, letter or numeral or any combination of 2 or more of these;”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 4 November 1988.

2. Statutory Rules 1981 No. 127 as amended by 1982 Nos. 124 and 125; 1983 Nos. 108 and 303; 1986 Nos. 35 and 148; 1987 Nos. 48, 129 and 173.

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