46Exercise of certain powers of Commission in relation to futures contracts

#### 46 Exercise of certain powers of Commission in relation to futures contracts (1) The Commission shall not exercise a power conferred by this section except: (a) where it considers that it may be necessary to give a direction under section 1138 of the Corporations Law of this jurisdiction—for the purpose of determining whether or not to give such a direction; or (b) where it considers that there may have been committed: (i) a contravention of Part 8.7 (other than sections 1258 and 1267) of the Corporations Law of this jurisdiction; or (ii) a contravention of a law of this jurisdiction, being a contravention that involves fraud or dishonesty and relates to futures contracts; for the purpose of investigating the possible contravention. (2) Where the Commission believes on reasonable grounds that a person can give information about particular matters, being any or all of the following: (a) a dealing in futures contracts; (b) advice, or an analysis or report, that a futures broker, a futures adviser, or a futures representative of a person, has given, issued or published about futures contracts; (c) the financial position of a business carried on by a person who is or has been (either alone or together with any other person or persons) a futures broker or futures adviser; (d) the financial position of a business carried on by a nominee controlled by a person of a kind referred to in paragraph (c) or jointly controlled by 2 or more persons at least one of whom is such a person; (e) an audit of, or a report of an auditor about, accounts or records of a futures broker or futures adviser, being accounts or records relating to dealings in futures contracts; the Commission may require the person to disclose to it the information that the person has about those particular matters.