SECURITIES INDUSTRY ACT 1980

Table of Provisions

• 1 Short title.  
• 2 Commencement  
• 3 Object  
• 4 Interpretation  
• 5 Relevant interests in securities  
• 6 Associated persons  
• 7 Interpretation  
• 8 Power of Commission to require production of books  
• 9 Power of magistrate to issue warrant to seize books  
• 10 Offences  
• 11 Privilege  
• 12 Disclosure to Commission  
• 13 Investigation of certain matters  
• 14 Power of Court to make certain orders  
• 15 Interpretation  
• 16 Investigations  
• 17 Conduct of investigations  
• 18 Powers of Commission and inspectors appointed under corresponding laws  
• 19 Powers of inspectors  
• 20 Investigation deemed to be a proceeding  
• 21 Record of examination  
• 22 Record to accompany report  
• 23 Admissibility of record of examination in evidence in proceedings against person examined  
• 24 Admissibility in other proceedings of questions and answers at an examination  
• 25 Weight of evidence  
• 26 Credibility of person who answered questions  
• 27 Determination of objection to admissibility of question and answer  
• 28 Delegation by inspector  
• 29 Reports of investigations  
• 30 Report of inspector  
• 31 Commission's powers in respect of books  
• 32 Privileged communications  
• 33 Expenses of investigation  
• 34 Concealing, &c., of books relating to securities  
• 35 Power of Commission to make certain orders  
• 36 Certain powers not to be delegated  
• 37 Establishment, &c., of stock markets  
• 38 Power of Ministerial Council to approve stock exchange  
• 39 Commission to be notified of amendments to rules  
• 40 Power of Commission to prohibit trading in particular securities  
• 41 Stock exchanges to provide assistance to Commission  
• 42 Power of Court to order observance or enforcement of business rules or listing rules of stock exchange  
• 43 Dealers licence  
• 44 Dealer's representatives  
• 45 Investment advisers  
• 46 Investment representatives  
• 47 Application for grant of licence  
• 48 Grant of dealers licence or investment advisers licence  
• 49 Grant of representatives licence  
• 50 Change of principals of representative  
• 51 Conditions to which licence is subject  
• 52 Holder of licence to notify Commission of breach of condition or restriction applicable to licence  
• 53 Furnishing of information and statements to Commission  
• 54 Register of licence holders  
• 55 Notification of change in particulars  
• 56 Annual statement to be lodged with Commission  
• 57 Time for lodging annual statement  
• 58 Commission may extend period for lodging statement  
• 59 Revocation and suspension of licences  
• 60 Further provisions relating to revocation and suspension of licences  
• 61 Holder of licence to be deemed not to be holder while licence suspended  
• 62 Opportunity for hearing  
• 63 Certain representation prohibited  
• 64 Issue of contract notes  
• 65 Certain persons to disclose certain interests in securities  
• 66 Dealings as principal  
• 67 Use by dealer of clients' moneys  
• 68 Short selling  
• 69 Interpretation  
• 70 Application of Part  
• 71 Accounts to be kept by dealers  
• 72 Security documents in custody of dealer  
• 73 Dealers' trust accounts  
• 74 Purposes for which money may be withdrawn from a trust account  
• 75 Appointment of auditor by dealer  
• 76 Removal and resignation of auditors  
• 77 Fees and expenses of auditors  
• 78 Dealers' accounts  
• 79 Auditor to report to Commission in certain cases  
• 80 Certain matters to be reported to Commission  
• 81 Defamation  
• 82 Right of stock exchange to impose obligations, &c., on members not affected by this Part  
• 83 Power of Court to restrain dealings with dealer's bank accounts  
• 84 Duty of banker to make full disclosure  
• 85 Power of Court to make further orders and give directions  
• 86 Power of Court to make order relating to payment of moneys  
• 87 Interpretation  
• 88 Application of Part  
• 89 Register to be maintained  
• 90 Place where Register kept  
• 91 Defences  
• 92 Power of Commission to require production of Register  
• 93 Power of Commission to require certain information to be supplied to Commission  
• 94 Power of Commission to supply copy of Register  
• 95 Deposits to be lodged by sole traders and member firms  
• 96 Deposit to be proportion of certain balances  
• 97 Deposits to be invested by stock exchange  
• 98 Accounts of deposits  
• 99 Claims, &c., not affected by this Part  
• 100 Establishment of fidelity funds  
• 101 Moneys constituting fidelity fund  
• 102 Fund to be kept in separate bank account  
• 103 Payments out of fund  
• 104 Accounts of fund  
• 105 Management sub-committee  
• 106 Contributions to fund  
• 107 Provisions where fund exceeds $2,000,000  
• 108 Levy in addition to annual contributions  
• 109 Power of stock exchange to make advances to fund  
• 110 Investment of fund  
• 111 Application of fund  
• 112 Claims against the fund  
• 113 Rights of innocent partner in relation to fund  
• 114 Notice calling for claims against fund  
• 115 Power of committee to settle claims  
• 116 Form of order of Court establishing claim  
• 117 Power of committee to require production of securities, &c.  
• 118 Subrogation of stock exchange to rights, &c., of claimant on payment from fund  
• 119 Payment of claims only from fund  
• 120 Provision where fund insufficient to meet claims or where claims exceed total amount payable  
• 121 Power of stock exchange to enter into contracts of insurance or indemnity  
• 122 Application of insurance moneys  
• 123 Stock market manipulation  
• 124 False trading and market rigging transactions  
• 125 False or misleading statements, &c.  
• 126 Fraudulently inducing persons to deal in securities  
• 127 Dissemination of information about illegal transactions  
• 128 Prohibition of dealings in securities by insiders  
• 129 Penalties  
• 130 Compensation for loss, &c.  
• 131 Dealer to give priority to clients' orders  
• 132 Dealings by employees of holders of licences  
• 133  
• 134 Appeal  
• 135 False or misleading statements  
• 136 Preservation and disposal of records, &c.  
• 137 Concealing, &c., of books relating to securities  
• 138 Falsification of records  
• 139 Precautions against falsification of records  
• 140 Obstructing or hindering Commission, &c.  
• 141 General penalty provisions  
• 142 Continuing offences  
• 143 Offences by bodies corporate  
• 144 Certain persons to assist in prosecutions  
• 145 Reciprocity in relation to offences  
• 146 Offences committed partly in and partly out of the Territory  
• 147 Power of Court to prohibit payment or transfer of moneys, securities or other property  
• 148 Power of Commission to intervene in proceedings  
• 149 Injunctions  
• 150 Regulations  
• 151 Rules of court