53Insertion of Division heading

53 Insertion of Division heading 54. Issue of contract notes 55. Repeal of sections 65 and 65a 56. Insertion of Division heading 57. Insertion of new Division: Division 3—Recommendations about securities 68b. Recommendation made by partner or officer 68c. Client to be told if adviser’s interests may influence recommendation 68d Defences to alleged breach of subsection 68c (2) 68e Adviser must have reasonable basis for recommendation 68f Adviser who breaches this Division liable to compensate client 68g. Qualified privilege for adviser when complying with this Division 58. Interpretation 59. Repeal of section 88 and substitution of new section: 88. Application of Part 60. Repeal of sections 90 and 91 and substitution of new sections: 90. Commission to be notified of certain matters on establishment of Register 90a. Commission to be notified of changes in certain matters 91. Defences 61. Repeal of section 93 and substitution of new section: 93. Power of Commission to require certain information 62. Interpretation Division 2—Amendments of Futures Industry Act 1986 63. Insertion of heading and new section: PART Ia—INTERPRETATION 3a. Effect of this Part 64. Interpretation 65. Insertion of new sections: 6a. Businesses of a particular kind 6b. Carrying on a business: alone or together with others 66. Dealing in futures contracts 67. Repeal of section 10 and substitution of new sections: 10. Exempt brokers and exempt futures advisers , 10a. Futures advice business 10b. Proper authority; invalid authority 68. Repeal of section 11 and substitution of new section: 11. Recognised licensee must be connected with State or Territory concerned 69. Insertion of new section: 11a. Representatives 70. Heading to Part IV 71. Repeal of sections 60 to 71, inclusive, and substitution of heading and new sections: Division 1—Futures brokers and futures advisers 61. Futures brokers 63. Futures advisers 65. Application for a licence 66. Grant of licence to natural person 66a. Grant of licence to body corporate 66b. Effect of certain provisions 69. Conditions of licence: general 69a. Conditions of futures broker’s licence: membership of relevant organisation 69b. Conditions of futures broker’s licence: assets and liabilities 69c. Conditions of licence: supervision of representatives 69d. Revocation and variation of licence conditions 69e. Relevant organisations to be informed about conditions of futures broker’s licence 70. Licensee to notify breach of licence condition 71. Commission may require licensed futures broker to give information 72. Register of Licence Holders 73. Repeal of sections 73 and 74 and substitution of new sections: 73. Notifying change in particulars 74. Annual statement of licensee 74. When annual statement to be lodged 75. Repeal of sections 77, 78, 79 and 80 and substitution of new Divisions: Division 2—Agreements with unlicensed persons Subdivision A—Agreements affected 77a. Excluded clients 77b. Agreement about a dealing in breach of section 61 77c. Agreement with person acting in breach of section 63 Subdivision B—Effect on agreements 77d. Client may give notice of rescission 77e. Effect of notice under section 77d 77f. Client may apply to Court for partial rescission 77g. Court may make consequential orders 77h. Agreement unenforceable against client 77j. Non-licensee not entitled to recover commission 77k. Onus of establishing non-application of section 77h or 77j 77l. Client may recover commission paid to non-licensee 77m. Remedies under this Division additional to other remedies Division 3—Representatives 78a. Representatives of futures brokers 78b. Representatives of futures advisers 78c. Defence 78d. Body corporate not to act as representative 78e. Licensee to keep register of holders of proper authorities 78f. Licensee to notify Commission of location and contents of register 78g. Inspection and copying of register 78h. Commission may require production of authority 78j. Commission may give licensee information about representative 78k. Holder of authority may be required to return it Division 4—Liability of principals for representatives’ conduct 79a. Conduct engaged in as a representative 79b. Liability where identity of principal unknown 79c. Liability of principals where act done in reliance on representative’s conduct 79d. Presumptions about certain matters 79e. No contracting out of liability for representative’s conduct 79f. Effect of Division Division 5—Excluding persons from the futures industry 80a. Power to revoke, without a hearing, licence held by natural person 80b. Power to revoke, without a hearing, licence held by body corporate 80c. Power to revoke licence after a hearing 80d. Power to suspend licence instead of revoking it 80e. Power to make banning order where licence revoked or suspended 80f. Power to make banning order against unlicensed person 80g. Nature of banning order 80h. Exceptions to banning order 80j. Variation or revocation of banning order on application 80k. Revocation of banning order in certain cases 80l. Effect and publication of orders under this Division 80m. Contravention of banning order 80n. Banned person ineligible for licence 80p. Opportunity for hearing 80q. Disqualification by the Court 80r. Effect of order under section 80q or corresponding law 80s. Effect of order under previous Territory law corresponding with section 80q Division 3—Consequential amendments of the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 76. Definitions 77. Insertion of new section: 38c. Qualified privilege