Commonwealth Numbered Acts

CO-OPERATIVE SCHEME LEGISLATION AMENDMENT ACT 1989 No. 92 of 1989 - SECT 43

43. Section 4 of the Principal Act is amended:
(a) by omitting "subsection (3)" from the definitions of "recognised dealer"
and "recognised investment adviser" in subsection (1) and substituting

"section 6G";
(b) by omitting from subsection (1) the definitions of "dealer", "exempt
dealer", " investment adviser", " licence" and " recognised licencee" and
substituting the following definitions:

"'dealer' means:

   (a)  a person who carries on a securities business; or

   (b)  2 or more persons who together carry on a securities business;
'exempt dealer' has the meaning given by section 6C;
'investment adviser' means a person who carries on, or 2 or more persons who
together carry on, an investment advice business;
'licence' means a dealers licence or an investment advisers licence;
'recognised licensee' means a recognised dealer or a recognised
investment adviser and, in relation to a recognised licence, means the person
who holds the recognised licence;";

   (c)  by omitting from subsection (1) the definitions of " dealer's
        representative", " dealer's representatives licence", "investment
        representative", "investment representatives licence", "
        recognised dealer's representative", "recognised investment
        representative" and "representatives licence";

   (d)  by inserting in subsection (1) the following definitions:

"'Australian company law' means the Companies Act 1981 or the provisions of:

   (a)  a previous law of the Territory; or

   (b)  a law, or a previous law, of a State or of another Territory; that
        correspond with that Act;
'banning order' means an order made under section 62G and in force under
Division 5 of Part IV;
'condition', in relation to a licence, means a condition or restriction to
which the licence is subject, or will be subject, as the case requires;
'eligible money market dealer' means a body corporate in respect of which a
declaration is in force under paragraph 97 (7) (b) of the Companies  Act 1981
;
'event' includes any happening, circumstance or state of affairs;
'exempt investment adviser' has the meaning given by section 6C;
'exempt public authority' means a body corporate that is incorporated within
Australia and is a public authority or an instrumentality or agency of the
Crown in right of the Commonwealth or of a State or Territory;
'externally-administered body corporate' means a body corporate:

   (a)  that is being wound up under an Australian company law;

   (b)  in respect of property of which a receiver, or a receiver and manager,
        has been appointed under an Australian company law (whether or not by
        a court) and is acting;

   (c)  that is under official management under an Australian company law; or

   (d)  that has, whether in the Territory or elsewhere, entered into a
        compromise or arrangement with its creditors that is still in
        operation;
'have', in relation to information, includes be in possession of the
information;
'hold', in relation to a person, in relation to a document that is, or
purports to be, a copy of a licence, means have in the person's possession;
'included', in relation to an official list, has the meaning given by section
6D;
'information service' means:

   (a)  a broadcasting service;

   (b)  an interactive or broadcast videotext or teletext service or a similar
        service;

   (c)  an online database service or a similar service; or

   (d)  any other prescribed service;
'invalid authority' has the meaning given by subsection 6F (2);
'investment advice business' has the meaning given by section 6E;
'licensee' means a person who holds a licence and, in relation to a licence,
means the person who holds the last-mentioned licence;
'liquidator' includes a provisional liquidator;
'lodge' means lodge with the Commission;
'non-dealer' means a person who is neither a dealer nor one of 2 or more
persons who together constitute a dealer;
'proper authority' has the meaning given by section 6F;
'publish' includes issue;
'recognised banning order' means a banning order within the meaning of a
corresponding law of a participating State or participating Territory;
'recognised licence' means, subject to section 6G, a licence within the
meaning of a corresponding law of a participating State or participating
Territory;
'relevant agreement' means an agreement, arrangement or understanding:

   (a)  whether formal or informal or partly formal and partly informal;

   (b)  whether written or oral or partly written and partly oral; and

   (c)  whether or not having legal or equitable force and whether or not
        based on legal or equitable rights;
'responsible officer', in relation to a body corporate that applies for a
licence, means an officer of the body who would perform duties in connection
with the holding of the licence;
'securities adviser' means a dealer, an investment adviser or a representative
of a dealer or of an investment adviser;
'securities business' has the meaning given by section 6J;
'securities law' means a provision of, or a provision of a law of a
participating State or participating Territory that corresponds with a
provision of:

   (a)  this Act;

   (b)  the Companies (Acquisition of Shares) Act 1980;

   (c)  Part IV of the Companies Act 1981; or

   (d)  section 552 of the Companies Act 1981;
'securities recommendation' means a recommendation with respect to securities
or a class of securities, whether made expressly or by implication;
'securities report' means an analysis or report about securities;
'serious fraud' means an offence involving fraud or dishonesty, being an
offence:

   (a)  against a law of the Commonwealth, of a State or of a Territory, or
        against any other law; and

   (b)  punishable by imprisonment for life or for a period, or maximum
        period, of at least 3 months;
'suspend' has a meaning affected by subsections 62D (7) and (8);
'transmission' means a transmission, by means of electric or electromagnetic
energy, of:

   (a)  sounds, including speech and music;

   (b)  visual images;

   (c)  signals for the communication, whether as between persons and persons,
        persons and things or things and things, of any matter otherwise than
        in the form of sounds or visual images; or

   (d)  signals for the actuation or control of machinery or apparatus;";

   (e)  by omitting subsections (3), (4), (5) and (5A).