Commonwealth Numbered Acts

COMPANIES AND SECURITIES LEGISLATION AMENDMENT (FUTURES INDUSTRY) ACT 1986 No. 74 of 1986 - SECT 16

16. After section 103 of the Principal Act the following section is inserted:
Payment to the credit of the fidelity fund of a futures exchange or futures
association

"103A. Where a body corporate that is a securities exchange, or that is
related to a securities exchange, becomes a relevant organisation for the
purposes of Part VII of the Futures Industry Act 1986, or for the purposes of
the provisions of a law of a participating State or participating Territory
that correspond with that Part-

   (a)  the Ministerial Council may approve in writing, on such conditions (if
        any) as are specified in the approval-

        (i)    the payment of an amount so specified out of the fidelity fund
               kept under this Part by the body corporate, or by the
               securities exchange, as the case may be; and

        (ii)   the payment of that amount to the credit of the fidelity fund
               established or to be established by the body corporate under
               that Part, or under those provisions, as the case may be; and

   (b)  if the Ministerial Council does so, the amount so specified shall, in
        accordance with the conditions (if any) so specified-

        (i)    be paid out of the fidelity fund referred to in sub-paragraph
               (a) (i); and

        (ii)   be paid to the credit of the fidelity fund referred to in
               sub-paragraph (a) (ii).".