Victorian Consolidated Legislation

Financial Institutions Duty Act 1982 - SECT 37

Registration of short-term money market operators

37. Registration of short-term money market operators



(1) A person may make application to the Commissioner in the prescribed form
and manner for registration as a short-term money market operator for the
purposes of this Act.

(2) A person may not make application under this section unless-

   (a)  the person is a short-term dealer; or

   (b)  the person carries on a business in Victoria of dealing in securities,
        bills of exchange, promissory notes or certificates of deposit in the
        short-term money market, or of making or receiving loans, advances or
        deposits in the short-term money market.



(3) Where the Commissioner is satisfied that an application under this section
is duly made, the Commissioner may register the applicant as a short-term
money market operator under this Act.

(4) The Commissioner may by notice in writing given to a person who is a
registered short-term money market operator, cancel his registration where he
is satisfied that the person-

   (a)  has ceased to be a person who may make application for registration
        under this section; or

   (b)  has paid moneys to a short-term dealing account in contravention of
        the provisions of section 26-

and may determine a period not exceeding one year, during which the person is
ineligible to make an application under this section.