Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 71

71. (1) A reference to a futures advice business, in relation to a person, is
a reference to:

   (a)  a business of advising other persons about futures contracts; or

   (b)  a business in the course of which the person publishes futures
        reports.

(2) A reference to an eligible futures advice business, in relation to a
person, is a reference to:

   (a)  a business of advising corporations about futures contracts;

   (b)  a business in the course of which the person gives futures reports to
        corporations;

   (c)  a business of advising other persons, in eligible circumstances, about
        futures contracts; or

   (d)  a business in the course of which the person publishes futures reports
        in eligible circumstances.

(3) The remaining provisions of this section apply for the purposes of
determining:

   (a)  whether or not a person carries on a futures advice business or
        eligible futures advice business;

   (b)  what constitutes a futures advice business or eligible futures advice
        business carried on by a person; and

   (c)  whether or not a person holds himself, herself or itself out to be a
        futures adviser.
  (4)   If the person is a solicitor or accountant in public practice as such,
an act that the person does shall be disregarded if it is merely incidental to
the practice of his or her profession.

(5) The fact that the person advises other persons about futures contracts, or
publishes futures reports, in some or all of the following circumstances shall
be disregarded:

   (a)  in a newspaper or periodical:

        (i)    of which the person is the proprietor or publisher; and

        (ii)   that is generally available to the public otherwise than only
               on subscription;

   (b)  in the course of, or by means of, transmissions that:

        (i)    the person makes by means of an information service; or

        (ii)   are made by means of an information service that the person
               owns, operates or makes available; and are generally available
               to the public;

   (c)  in sound recordings, video recordings, or data recordings, that the
        person makes generally available to the public in either or both of
        the following ways:

        (i)    by supplying copies of them to the public;

        (ii)   by causing the sound recordings to be heard by, the video
               recordings to be seen and heard by, or the contents of the data
               recordings to be displayed or reproduced for, the public, as
               the case may be.

(6) Subsection (5) does not apply in relation to a newspaper or periodical, or
transmissions, sound recordings, video recordings or data recordings, whose
sole or principal purpose is to advise other persons about futures contracts
or to publish futures reports.

(7) The fact that the person holds himself, herself or itself out as advising
other persons, or publishing futures reports, as mentioned in 15 subsection
(5) shall be disregarded.

(8) An act that the person does:

   (a)  while employed by, or acting for or by arrangement with, another
        person;

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

   (c)  in connection with a futures advice business carried on by the other
person; shall be disregarded.