CORPORATIONS REGULATIONS 2001 - REG 7.5.07 Meaning of securities business : general

CORPORATIONS REGULATIONS 2001 - REG 7.5.07

  (1)   For this Part (other than Subdivision   4.9), a securities business is a financial services business of dealing in securities.

  (2)   Subregulations (4), (5) and (6) apply for the purposes of determining:

  (a)   whether or not a person carries on, or holds himself, herself or itself out as carrying on, a securities business; and

  (b)   what constitutes such a business carried on by a person.

  (3)   Subregulation (6) also applies for the purposes of determining whether or not a person deals in securities.

  (4)   An act done on behalf of the person by:

  (a)   the holder of a dealers licence; or

  (b)   an exempt dealer; or

  (c)   the holder of an Australian financial services licence; or

  (d)   a person who is exempted from holding an Australian financial services licence by virtue of subsection   911A(2), (2A), (2B), (2C), (2D) or (2E) of the Act;

must be disregarded.

  (5)   An act that the person does:

  (a)   while employed by, or acting for or by arrangement with, a dealer; and

  (b)   as an employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the dealer; and

  (c)   in connection with a securities business carried on by the dealer;

is to be disregarded.

  (6)   An act or acts done by the person that constitutes or together constitute a dealing by the person in a futures contract (within the meaning of the old Corporations Act) is or are to be disregarded.