Commonwealth Numbered Acts

CO-OPERATIVE SCHEME LEGISLATION AMENDMENT ACT 1989 No. 92 of 1989 - SECT 69

69. After section 11 of the Principal Act the following section is inserted:
Representatives

"11A. (1) Subject to subsection (2), a person is a representative of another
person if, and only if, the first-mentioned person is employed by, or acts for
or by arrangement with, the other person in connection with a futures broking
business or futures advice business carried on by the other person.

"(2) Except for the purposes of paragraph 10B (1) (b):

   (a)  a person who holds a proper authority from a licensee or recognised
        licensee is a representative of the licensee or recognised licensee;
        and

   (b)  a person who holds an invalid authority from another person is a
        representative of the other person.

"(3) Subject to subsection (4), a person does an act, or engages in conduct,
as a representative of another person if, and only if, the firstmentioned
person does the act, or engages in the conduct:

   (a)  in connection with a futures broking business or futures advice
        business carried on by the other person;

   (b)  while the first-mentioned person is a representative of the other
        person;

   (c)  as employee or agent of, or otherwise on behalf of, on account of, or
        for the benefit of, the other person; and

   (d)  otherwise than in the course of work of a kind ordinarily done by
        accountants, clerks or cashiers.

"(4) Except for the purposes of Division 4 of Part IV, a person who holds
himself, herself or itself out to be a representative of another person does
an act as a representative of the other person.".