Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 1043K

Transactions by holder of financial services licence or a representative of the holder of such a licence

                   A person (the agent ) does not contravene subsection 1043A(1) by applying for, acquiring, or disposing of, or entering into an agreement to apply for, acquire, or dispose of, financial products that are able to be traded on a licensed market if:

                     (a)  the agent is a financial services licensee or a representative of a financial services licensee; and

                     (b)  the agent entered into the transaction or agreement concerned on behalf of another person (the principal ) under a specific instruction by the principal to enter into that transaction or agreement; and

                     (c)  the licensee had in operation, at the time when that transaction or agreement was entered into, arrangements that could reasonably be expected to ensure that any information in the possession of the licensee, or of any representative of the licensee, as a result of which the person in possession of the information would be prohibited by subsection 1043A(1) from entering into that transaction or agreement was not communicated to the agent and that no advice with respect to the transaction or agreement was given to the principal or to the agent by a person in possession of the information; and

                     (d)  the information was not so communicated and no such advice was so given; and

                     (e)  the principal is not an associate of the licensee or of any representative of the licensee;

but nothing in this section affects the application of subsection 1043A(1) in relation to the principal.



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