Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 94

94. (1) Subject to subsection (2), a person is a securities representative of
another person if, and only if, the first-mentioned person is employed by, or
acts for or by arrangement with, the other person in connection with:

   (a)  if at least one of those persons is a corporation-a securities
        business or investment advice business; or

   (b)  in any other case, but without prejudice to the effect of this
        subsection by virtue of paragraph (a)-an eligible securities business
        or eligible investment advice business; carried on by the other
        person.

(2) Except for the purposes of paragraph 88 (1) (b):

   (a)  a person who holds a proper authority from a securities licensee is a
        securities representative of the licensee; and

   (b)  a person who holds an invalid securities authority from another person
        is a securities representative of the other person.

(3) Subject to subsection (4), a person does an act, or engages in conduct, as
a securities representative of another person if, and only if, the
first-mentioned person does the act, or engages in the conduct:

   (a)  in connection with:

        (i)    if at least one of those persons is a corporation-a securities
               business or investment advice business; or

   (ii) in any other case, but without prejudice to the effect of this
        subsection by virtue of subparagraph (i) an eligible securities
        business or eligible investment advice business; carried on by the
        other person;

   (b)  while the first-mentioned person is a securities representative of the
        other person;

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

   (d)  otherwise than in the course of work of a kind ordinarily done by
        accountants, clerks or cashiers.

(4) Except for the purposes of Division 4 of Part 7.3, a person who holds
himself, herself or itself out to be a securities representative of another
person does an act as a securities representative of the other person.