CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1148 Conditions of futures brokers licence: membership of futures
CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1148
Conditions of futures brokers licence: membership of futures(1) A futures brokers licence is subject to:
- (i)
- is a member of no futures organisation; and
- (ii)
- would, but for the suspension of the licensee's membership of a futures organisation, be a member of the last-mentioned futures organisation.
(2) A person whose membership of a futures organisation is suspended for a period:
- (a)
- is, for the purposes of paragraph (1)(a), a member of that futures organisation throughout that period; and
- (b)
- is, for the purposes of paragraph (1)(b), a member of that futures organisation at no time during that period.