CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 27 Dealing in futures contracts through intermediaries: second and later steps

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 27

27. (1) Where:

   (a)  because of instructions given, or any other act done, by a person (in
this section called the "intermediary"), the intermediary is, by virtue of:

   (i)  an application of section 26: or

   (ii) an application of section 26 and an application, or 2 or more
        applications, of this section; to be deemed to acquire, dispose of, or
        deal in, a futures contract; and

   (b)  the intermediary gave the instructions, or did that other act, on
        behalf
of another person (in this section called the "principal"); this section has
effect, except for the purposes of section 26.

(2) The principal shall also be deemed to acquire, dispose of, or deal in, as
the case may be, the futures contract.

(3) The intermediary and:

   (a)  if subparagraph (I) (a) (i) applies-the person who acquires, disposes
        of, or otherwise deals in, as the case may be; or

   (b)  if subparagraph (I) (a) (ii) applies-the persons who, by virtue of the
        applications referred to in that subparagraph, are each deemed to
        acquire, dispose of, or deal in, as the case may be; the futures
        contract on the intermediary's behalf shall each be deemed to acquire,
        dispose of, or deal in, as the case may be, the futures contract on
        the principal's behalf.