Northern Territory Consolidated Acts

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CORPORATIONS (FINANCIAL SERVICES REFORM AMENDMENTS) ACT 2002 - SECT 7

Consequential amendments

    (1)     The Co-operatives Act is amended –

        (a)     by omitting from section 9(2)(h) "the futures industry" and substituting "derivatives";

        (b)     by omitting section 9(2)(i) and substituting the following:

"(i)     provision relating to –

            (i)     financial services licensees (as defined in section 761A of the Corporations Act 2001) whose licence covers dealing in, or providing advice about, securities; or

            (ii)     regulated principals (as defined in section 1430 of the Corporations Act 2001) when dealing in, or providing advice about securities as authorised by Part 10.2 Division 1 Subdivision D of that Act;";

        (c)     by omitting from section 9(2)(j) "conduct of securities business" and substituting "carrying on of a financial services business (as defined in section 761A of the Corporations Act 2001) relating to securities";

        (d)     by omitting section 9(2)(k) and (l) and substituting the following:

"(k)     provisions relating to financial statements, and audits of financial statements, of –

            (i)     financial services licensees (as defined in section 761A of the Corporations Act 2001) whose licence covers dealing in, or providing advice about, securities; or

            (ii)     regulated principals (as defined in section 1430 of the Corporations Act 2001) when dealing in, or providing advice about, securities as authorised by Part 10.2 Division 1 Subdivision D of that Act;

        (l)     provisions relating to money and scrip of clients of –

            (i)     financial services licensees (as defined in section 761A of the Corporations Act 2001) whose licence covers dealing in, or providing advice about, securities; or

            (ii)     regulated principals (as defined in section 1430 of the Corporations Act 2001) when dealing in, or providing advice, about securities as authorised by Part 10.2 Division 1 Subdivision D of that Act;";

        (e)     by omitting from section 9(3)(d) "7.11 (Conduct in relation to securities)" and substituting "7.10 (Market misconduct)";

        (f)     by omitting from section 258(1) "7.11" and substituting "7.10"; and

        (g)     by omitting from section 311 " and 5.6, Chapter 5A and Part " and substituting "5.6, 5A.1 and".

    (2)     The Taxation (Administration) Act is amended by inserting after the definition of "execute" in section 4(1) the following:

" 'financial market' has the same meaning as in section 767A of the Corporations Act 2001;".

    (3)     The Acts and Regulations specified in the Schedule are amended as specified in the Schedule.

    (4)     A regulation amended as set out in the Schedule may be amended or repealed by a regulation as if the amendment had been made by a regulation.



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