Commonwealth legislation

Futures Industry Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

150 of 1986

Collection

legislative instrument

Plain English Summary

8/10 complexity

These regulations set out the administrative framework for licensing and supervising Australia’s futures industry under the Futures Industry Act 1986. They govern who may be licensed (and what applicants must disclose), regulator powers to compel information, ongoing financial reporting, client protections (mandatory risk disclosure and segregated client accounts), a fidelity/compensation fund for losses from broker fraud, and recognised overseas markets where licensed brokers may trade.

They affect licence applicants and holders, their authorised representatives, clients, and the listed exchanges.

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Current sections

Direct links to the current provisions in Futures Industry Regulations.

NOTICE RELATING TO A REQUIREMENT TO DISC

NOTICE RELATING TO A REQUIREMENT TO DISCLOSE INFORMATION TO THE COMMISSION

TAKE NOTICE that, in relation to a requirement made of a person under subsection (4) of section 18 of the Futures Industry Act 1986 to disclose information to the National Companies and Securities Commission, the terms of subsections (5) and (6) of that section are as follows:

“(5) A person is not excused from disclosing information to the Commission pursuant to a requirement made of the person under subsection (4) on the ground that the disclosure of the information might tend to incriminate the person.

“(6) Where a person claims, before making an oral statement disclosing information that the person is required to disclose by a requirement made of the person under subsection (4), that the statement might tend to incriminate the person, evidenced of that statement is not admissible in evidence against the person in criminal proceedings other than proceedings under this section.”.

*Dated 19 . Signature of person giving notice:

*Given under the Seal of the National Companies and Securities Commission at on this day of 19 .

*Strike out whichever is inapplicable.

Form 2 Futures Industry

(subsection 25 (1))

(subregulation 14 (1))

NOTICE OF REQUIREMENT BY AN INSPECTOR IN

NOTICE OF REQUIREMENT BY AN INSPECTOR INVESTIGATING MATTERS RELATING TO DEALING IN FUTURES CONTRACTS

To: (1)

In relation to an investigation of (2) ................................

.............................................................

TAKE NOTICE that under subsection 25 (1) of the Futures Industry Act 1986 you are required—

(a) to appear on (3) ....... 19 , at (4) ........... before (5) ......................

at (6) ...............................................

...................................................

for examination on oath or affirmation and to answer questions put to you in relation to the investigation;

(b) to produce to (5) ..................... on (3) ............................. 19 ....., at (4)...............at (6) ................................................the following books : (7) ..........................................and all such other books in your custody or under your control as relate to the investigation; and

all reasonable assistance in connection with the investigation.

Dated 19 .

Signature of the person carrying out the investigation:

(1) Insert the full name and address of the person to whom notice is to be given.

(2) State the nature of the matter to which the investigation relates.

(3) Insert the date.

(4) Insert the time.

(5) Insert full name of the person carrying out the investigation.

(6) Insert full particulars of the place at which the requirement is to be satisfied.

(7) Describe books that are to be produced.

NOTICE OF RELEVANT STATUTORY PROVISIONS

In relation to subsections 25 (1) and (2) of the Futures Industry Act 1986, subsections 25 (5), (9) and (10) provide as follows:

“(5) A prescribed person shall not, without reasonable excuse, refuse or fail to comply with a requirement made under subsection (1).

Penalty: $10,000 or imprisonment for 2 years, or both.

“(9) A duly qualified legal practitioner acting for a prescribed person:

(a) may attend an examination of that person; and

(b) may, at such times during the examination as the inspector determines:

(i) address the inspector; and

(ii) examine that person,

in relation to matters in respect of which the inspector has questioned that person.

“(10) A prescribed person is not excused from answering a question put to the person by an inspector on the ground that the answer might tend to incriminate the person but, where the person claims, before answering the question, that the answer might tend to to incriminate the person, the answer is not admissable in evidence against the person in criminal proceedings other than proceedings under this section or other proceedings in respect of the falsity of the answer.”.

Under Division 2 of Part II of the Futures Industry Act 1986 “prescribed person” means a person suspected or believed by an inspector, on reasonable grounds, to be capable of giving information concerning any matter being, or to be, investigated by the inspector pursuant to that Division.
In relation to the reference to “books” in paragraph (b) of this form, subsection 4 (1) of the Futures Industry Act 1986 defines “books” as follows:

books includes any register or other record of information and any accounts or accounting records, however compiled, recorded or stored, and also includes any document.

Form 3 Futures Industry

(subsection 65 (1))

(subregulation 17 (1))

APPLICATION BY A NATURAL PERSON FOR A FU

APPLICATION BY A NATURAL PERSON FOR A FUTURES BROKER’S LICENCE OR A FUTURES ADVISER’S LICENCE

Application is made for a *futures broker’s/*futures adviser’s licence and the following statements are made in respect of the application:

(a) The applicant’s surname is — .....................

The applicant’s other names are — .................

(b) The residential address of the applicant is —

.............................................

State or Territory ............Postcode...........

Telephone No....................(Specify STD Code)

.............................................

State or Territory ............Postcode...........

Telephone No. ..................(Specify STD code)

(d) The applicant’s date of birth is — ....... / ...... / 19 .....

The applicant’s place of birth is — .................

(Specify the State or Territory or, if born outside Australia, the country)

(e) In the past 10 years the applicant has resided in Australia for ................ years.

(f) The full name or names under which the applicant’s business *is/*is to be carried on is —

...............................................

(g) The address of the principal place at which the business of the applicant *is/*is to be carried on is —

.............................................

State or Territory ............Postcode...........

Telephone No. ..................(Specify STD code)

Telex No. .....................................

Facsimile No. ..................................

(h) The addresses of all other places, whether within Australia or elsewhere, at which the business of the applicant *is/*is to be carried on is —

.............................................

State, Territory or Country........Postcode.........

Telephone No. ..........(Specify STD code/ISD code)

Telex No. .....................................

Facsimile No. ..................................

(Indicate whether those places are established or are to be established)

The nature of the principal business of the applicant is —

.......................................................

The activity for which the applicant requires a licence is — (Specify in detail).........................................................................

.......................................................

The applicant intends to deal in *all kinds/*the following kinds of futures contracts:

.......................................................

*5. In relation to the business carried on or to be carried on by the applicant —

(a) particulars of each person with whom the applicant carries on or intends carrying on business in partnership are as follows:

Full name ..........................................

Address (including State or Territory and postcode)

..................................................

Telephone No.................... (Specify STD code)

Full name ..........................................

Address (including State or Territory and postcode)

..................................................

Telephone No........................(Specify STD code)

(b) the applicant’s interest in partnership (expressed as a percentage of total capital in the partnership) is........%.

(c) particulars of each person who, directly or indirectly, exercises, or has or will have power to exercise, a controlling influence over the management and policies of the business (other than persons referred to in paragraph (a)) are as follows:

Full name ..........................................

Address (including State or Territory and postcode)

..................................................

Telephone No........................(Specify STD code)

Full name ..........................................

Address (including State or Territory and postcode)

..................................................

Telephone No...................... (Specify STD code)

(d) the particulars of any person who directly or indirectly has or will have any share in profits of the business (other than persons referred to in paragraph (a)) are as follows:

Full name ..........................................

Address (including State or Territory and postcode)

..................................................

Telephone No........................(Specify STD code)

Full name ..........................................

Address (including State or Territory and postcode)

..................................................

Telephone No........................(Specify STD code)

Is the applicant a director of a body corporate or bodies corporate, whether incorporated in the Territory or elsewhere?.........Answer *Yes *No

If the answer is “Yes”, specify the following particulars of the directorship or directorships held:

Full name of body corporate	Place of incorporation of body corporate	Date of applicant’s appointment as a director of body corporate

Answer the questions “Yes” or “No” in the space provided. If an answer is “Yes”, attach annexures giving all relevant particulars.

Within the past 10 years has the applicant or any person referred to in Item 5 (a) or (c), whether in Australia or elsewhere —

ANSWER

In the case of an applicant for a futures broker’s licence who is, or intends to become, a member, or a partner in a member firm, of a futures exchange or a futures association, the applicant *or/*and the member firm *has/*has not been granted any exemption from capital requirements by the committee of the futures exchange or futures association.

If the applicant or the member firm has been granted such an exemption, attach an annexure giving all relevant particulars.

The applicant *has/*has not had experience in performing the functions of a futures broker, or a futures adviser.

If the applicant has had any such experience, attach an annexure giving all particulars of that experience.

Is the applicant a member of a futures exchange or futures association? Answer *Yes *No

If the answer is “Yes” —

(a) specify the name of the futures exchange or futures association:

(b) specify the class or classes of that membership:

(d) state whether the applicant is permitted to deal in all kinds of futures contracts:

(e) if the applicant is permitted to deal only in certain kinds of futures contracts, specify those kinds:

The following are details of the applicant’s employment and business activities during the past 5 years:

If self-employed, so state.

Full name of employer	Address of employer (including State or Territory and postcode)	Nature of business of employer	Nature of each employment or activity	Dates of commencement and conclusion of each employment or activity

12(2). Additional information that is relevant to this application is as follows:

..........................................................

13(3). The applicant consents to any police force providing information concerning any offences, other than traffic offences, of which the applicant has been convicted in Australia or elsewhere within the past 10 years.

Dated 19 .

Signature of applicant .......................................

Note: * Strike out whichever is inapplicable.

NOTES

(1) Where the applicant has or had under the law of a country other than Australia or of an external Territory a status equivalent to that of an insolvent under administration, annex particulars of that status.

If the applicant is or has been an insolvent under administration, include in an annexure —

(a) the date on which the applicant was declared bankrupt, the district in which the applicant was declared bankrupt and the applicant’s bankruptcy number; or

(b) where the applicant has entered into a deed of arrangement or assignment or where the applicant’s creditors have accepted a composition under Part X of the Bankruptcy Act 1966 —

(i) the district in which the deed of arrangement or assignment was entered into or the composition accepted;

(ii) the date of the deed of arrangement or assignment or the special resolution accepting the composition;

(iii) the full name and the address of the trustee of the deed of arrangement or assignment or of the composition; and

(iv) the identifying number used in relation to the deed of arrangement or assignment or the composition in the office of the Registrar in Bankruptcy.

(2) Include any formal qualifications obtained, or course of training undertaken, by the applicant and the name of the institution that granted the qualification or conducted the course.

Annex copies of supporting documentation.

(3) A conviction for an offence is not necessarily an impediment to the granting of a licence.

DIRECTIONS

Where there is insufficient space on this form to provide the required information, show the information in a separate annexure. The requirements relating to annexures are set out in regulation 5 of the Futures Industry Regulations.
Annex a detailed statement, made up as at a date not earlier than 14 days before the date of this application, signed by the applicant and disclosing the applicant’s total liabilities together with details of the applicant’s assets in accordance with the following provisions of these directions.
Where the applicant’s total tangible assets (excluding the value of any membership of a futures exchange or a futures association or of any stock, securities or other trading exchange) —

(a) exceed the applicant’s total liabilities (including liabilities of a contingent nature) by $50,000 or more, give in that statement full particulars (including the basis of valuation) of those assets up to an amount which exceeds those liabilities by not less than $50,000; or

(b) do not exceed the applicant’s total liabilities (including liabilities of a contingent nature) by $50,000 or more, give in that statement full particulars (including the basis of valuation) of all of the applicant’s assets.

Where any of the disclosed assets are vested in the applicant and any other person, or are encumbered in any manner, give in that statement full particulars of the vesting or encumbrance.
Give in that statement full particulars of the applicant’s liabilities —

(a) in the case of liabilities (excluding liabilities of a contingent nature) — expressed in terms of the time when they will fall due, as follows:

(i) due not later than in one year’s time;

(ii) due later than in one year’s time but not later than in 3 years’ time; or

(iii) due later than in 3 years’ time; and

(b) in the case of liabilities of a contingent nature — expressed separately in terms of the time when they would be most likely to fall due, as follows:

(i) due not later than in one year’s time;

(ii) due later than in one years’ time but not later than in 3 years’ time; or

(iii) due later than in 3 year’s time.

Where the applicant is a partner in a firm, a reference in these directions to the applicant’s assets and liabilities includes a reference to such part of the assets and liabilities of the firm as does not exceed the applicant’s proportional interest in the firm’s business under the partnership agreement. Give in the statement the precise extent of the applicant’s interest, under the partnership agreement, in the assets and liabilities of the firm.
Annex particulars of the assets and liabilities of the applicant’s business in the form of —

(a) the last audited profit and loss account and balance sheet (including every document required by law, or by the committee of the futures exchange of which the applicant is a member, to be attached to that account and balance sheet); or

(b) in the case of an applicant who is unable to comply with paragraph (a), a profit and loss account and balance sheet —

(i) prepared in accordance with the approved accounting standards, within the meaning of sub-section 266 (1) of the Companies Act 1981, with which the applicant would be required to comply if the applicant were a body corporate;

(ii) prepared in accordance with the Australian Accounting Standards published by the Institute of Chartered Accountants in Australia or the Australian Society of Accountants except to the extent (if any) to which those Standards are inconsistent with the standards referred to in sub-paragraph (i); and

(iii) signed by the applicant or, where the applicant is a partner in a firm, by all the partners of the firm.

If the profit and loss account and balance sheet of the applicant’s business are made up as at a date earlier than 14 days before the date of this application, annex a report signed by the applicant, or where the applicant is a partner in a firm by all the partners of the business to which the accounts relate, stating, in respect of the interval between the date as at which the balance sheet has been made up and a date not earlier than 14 days before the date of this application, that due inquiry has been made by the person or persons signing the report, and setting out whether or not in the opinion of the applicant or those partners —

(a) there have arisen in relation to the business any circumstances adversely affecting trading or the value of the assets or the ability of the business to meet liabilities as they fall due and providing full details of any such circumstances;

(b) the current assets appear in the balance sheet of the business at valuations which are believed to be realisable in the ordinary course of business and providing full details of any such assets that are not so realisable; or

(c) there have arisen any liabilities of a contingent nature including those arising under any guarantee given by the applicant or any of the partners and providing full details of any such liabilities.

NOTICE OF RELEVANT STATUTORY PROVISION

Subsection 142 (1) of the Futures Industry Act 1986 provides —

“(1) A person shall not, in, or in connection with, an application for a licence —

(a) make a statement that is false or misleading in a material particular knowing it to be false or misleading; or

(b) omit to state any matter or hing knowing that by reason of that omission the application is misleading in a material respect.

Penalty: $2,500 or imprisonment for 6 months, or both.”.

Form 4 Futures Industry

(subsection 65 (1))

(subregulation 17 (1))

APPLICATION BY A BODY CORPORATE FOR A FU

APPLICATION BY A BODY CORPORATE FOR A FUTURES BROKER’S LICENCE OR A FUTURES ADVISER’S LICENCE

Application is made for a *futures brokers’s licence/*futures adviser’s licence and the following statements are made in respect of the application:

(a) The name of the applicant is — ..................................................

Company Registration No. ............................

(b) The *name/*names under which the applicant proposes to carry on business (if different from the above name) *is/*are — .....................................................................................................

.................................................

State or Territory ...................Postcode........

Telephone No. .....................(Specify STD code)

Telex No. ........................................

Facsimile No. .....................................

*(d) The applicant’s postal address (if different from the above address) is —

.................................................

State or Territory ..................Postcode.........

Telephone No. .....................(Specify STD code)

(e) The applicant’s place of incorporation is —

................................................

(f) The address of the principal place at which the business of the applicant *is/*is to be carried on is —

.................................................

State or Territory ..................Postcode.........

Telephone No. .....................(Specify STD code)

Telex No. ........................................

Facsimile No. .....................................

(g) The addresses of all other places, whether within Australia or elsewhere, at which the business of the applicant *is/*is to be carried on are —

.................................................

State, Territory or country............Postcode.........

Telephone No ......................(Specify STD code)

Telex No. ........................................

Facsimile No. .....................................

.................................................

State, Territory or country............Postcode.........

Telephone No. .....................(Specify STD code)

Telex No. ........................................

Facsimile No. .....................................

(Indicate clearly those places established and those to be established)

(h) Particulars of the directors and secretaries, and the principal executive officer (if any), of the applicant are as follows:

Full name	Residential address (including name of State or Territory and postcode)	Date of birth	Office held	Date of appointment to office

The nature of the principal business of the applicant is —

.......................................................

The activity for which the applicant requires a licence is —

.......................................................

(Specify in detail)

The applicant intends to deal in all kinds/the following kinds of futures contracts:

.......................................................

Particulars of each person who, directly or indirectly, exercises, or has or will have power to exercise, a controlling influence over the management and policies of the business of the applicant (other than those persons shown as directors) are as follows:

Full name ..............................................

Address (including State or Territory and postcode)

.......................................................

Telephone No. ........................... (Specify STD code)

Full name ..............................................

Address (including State or Territory and postcode)

.......................................................

Telephone No. ........................... (Specify STD code)

Is any person who is a director or secretary, or the principal executive officer, of the applicant a director of any other body corporate or bodies corporate, whether incorporated in the Territory or elsewhere?

......... Answer *Yes *No

If the answer is “Yes”, specify the following particulars in respect of each such person who holds such a directorship:

Full name of person	Full name of other body corporate	Place of incorporation of other body corporate	Date of appointment of person as director of other body corporate

Answer the questions “Yes” or “No” in the space provided. If an answer is “Yes”, attach annexures giving all relevant particulars.

Within the past 10 years has the applicant, any person referred to in Item 5 or any director, secretary or principal executive officer of the applicant, whether in Australia or elsewhere —

ANSWER

*Each of the following persons, being a director or secretary, or the principal executive officer (if any), of the applicant, has had experience in performing the functions of a futures broker, a futures adviser, a futures broker’s representative or a futures adviser’s representative:

1. .......................................................

2. .......................................................

3. .......................................................

In relation to each of those persons, attach an annexure giving full particulars of the relevant experience.

*None of the persons who are directors or secretaries, or the principal executive officer, of the applicant has had experience in performing those functions.

Is the applicant a member of a futures exchange or futures association? Answer *Yes/*No.

If the answer is “Yes” —

(a) specify the name of the futures exchange or futures association:

(b) specify the class or classes of that membership:

(d) state whether the applicant is permitted to deal in all kinds of futures contracts:

(e) if the applicant is permitted to deal only in certain kinds of futures contracts, specify those kinds:

Particulars of the employment and business activities, during the past 5 years, of the directors and secretaries, and the principal executive officer (if any), of the applicant are as follows:

If self-employed, so state.

Full Name of person	Full name of employer	Address of employer (including State or Territory and postcode)	Nature of business of employer	Nature of employment or activity	Dates of commencement and conclusion of each employment or activity

11(2). Additional information that is relevant to this application is as follows:

.........................................................

12(3). The applicant consents to any police force providing information concerning any offences, other than traffic offences, of which the applicant has been convicted in Australia or elsewhere within the past 10 years.

Annex a statement in the following terms signed by each person who is a director or secretary or the principal executive officer (if any) of the applicant:

“I, [insert the person’s full name], *a director/*a secretary/*the principal executive officer of the applicant, consent to any police force providing information concerning any offences, other than traffic offences, of which I have been convicted in Australia or elsewhere within the past 10 years.

Dated 19 .

Signature of the *director/*secretary/*principal executive officer: ...”.

Dated 19 .

Signature of the *director/*secretary/*principal executive officer: ........

Note: *Strike out whichever is inapplicable.

NOTES

(1) Where the person concerned has or had under the law of a country other than Australia or of an external Territory a status equivalent to that of an insolvent under administration, annex particulars of that status.

If the person concerned is, or has been, an insolvent under administration, include in an annexure —

(a) the date on which the person was declared bankrupt, the district in which the person was declared bankrupt and the person’s bankruptcy number; or

(b) where the person has entered into a deed of arrangement or assignment or where the person’s creditors have accepted a composition under Part X of the Bankruptcy Act 1966 —

(i) the district in which the deed of arrangement or assignment was entered into or the composition accepted;

(ii) the date of the deed of arrangement or assignment or the special resolution accepting the composition;

(iii) the full name and the address of the trustee of the deed of arrangement or assignment or of the composition; and

(iv) the identifying number used in relation to the deed of arrangement or assignment or the composition in the office of the Registrar in Bankruptcy.

(2) Include any formal qualification obtained, or course of training undertaken, by any person who is a director or secretary, or the principal executive officer (if any), of the applicant and the name of the institution that granted the qualification or conducted the course.

Annex copies of supporting documentation.

(3) A conviction for an offence is not necessarily an impediment to the granting of a licence.

DIRECTIONS

Where there is insufficient space on this form to provide the required information, show the information in a separate annexure. The requirements relating to annexures are set out in regulation 5 of the Futures Industry Regulations.
Annex —

(a) the last audited profit and loss account and balance sheet of the applicant (including every document required by law to be annexed or attached to that account and balance sheet and, in the case of a body corporate not incorporated under the Companies Act 1981, including every document which would be required to be annexed to that account and balance sheet if it were a public company within the meaning of the Companies Act 1981); or

(b) in the case of an applicant who is unable to comply with paragraph (a), a profit and loss account and balance sheet drawn up in a accordance with the provisions of the Companies Act 1981 (insofar as those provisions are applicable in the circumstances) and signed by not less than 2 directors of the applicant.

If the profit and loss account and balance sheet of the applicant are made up as at a date earlier than 14 days before the date of this application, annex a report signed by not less than 2 directors of the applicant stating whether, after due inquiry by them in relation to the interval between the date as at which the balance sheet has been made up and a date not earlier than 14 days before the date of this application —

(a) there have, in the opinion of those directors, arisen in relation to the business any circumstances adversely affecting trading or the value of the assets or the ability of the business to meet liabilities as they fall due and providing full details of any such circumstances;

(c) there have arisen any liabilities of a contingent nature including those arising under any guarantee given by the applicant and providing full details of any such liabilities.

NOTICE OF RELEVANT STATUTORY PROVISION

Subsection 142 (1) of the Futures Industry Act 1986 provides —

“(1) A person shall not, in, or in connection with, an application for a licence —

(a) make a statement that is false or misleading in a material particular knowing it to be false or misleading; or

(b) omit to state any matter or thing knowing that by reason of that omission the application is misleading in a material respect.

Penalty: $2,500 or imprisonment for 6 months, or both.”.

Form 7 Futures industry

(section 73)

(regulation 20)

NOTICE OF CHANGE IN PARTICULARS OF LICENSEE

(a) The licensee’s surname or the full name in which the licence is held is —

...................................................

The licensee’s other names are —

...................................................

(b) The *residential address/*address of the registered office of the licensee is —

....................................................

State or Territory ....................Postcode..........

Telephone No. ........................(Specify STD code)

....................................................

State or Territory ....................Postcode..........

Telephone No. ........................(Specify STD code)

(d) The type of licence held is — ..........................................................

Licence No. ..........................................

*2. CESSATION OF BUSINESS, &c. BY LICENSEE

On the ......................... day of ....................... 19 ....... the licensee ceased:

*(a) as the holder of a futures broker’s licence, to carry on the business to which that licence relates;

*(b) as the holder of a futures adviser’s licence, to act as, or hold himself, herself or itself out to be, a futures adviser;

* and requests the Commission under paragraph 77 (1) (d) of the Futures Industry Act 1986 to revoke the licence.

*3. CHANGE OF NAME OF LICENSEE

On the .............. day of ..................... 19 ....... the name of the holder of the licence was changed from .............................. to .............................

*4. CHANGES IN PARTICULARS RELATING TO DIRECTORS, SECRETARIES AND THE PRINCIPAL EXECUTIVE OFFICER (IF ANY) OF LICENSEE

Full name	Usual residential address (including State or Territory and the postcode)	Date and place of birth (Specify the State or Territory or, if born outside Australia, the country)	Particulars and nature of appointment or change, and relevant date (1) (2)

..........................................................

Particulars of each person (other than a director or secretary or the principal executive officer of the licensee) who, directly or indirectly, exercises, or has or will have power to exercise, a controlling influence over the management and policies of the licensee are as follows:

Full name ..............................................

Address (including State or Territory and postcode)

.......................................................

Telephone No.............................(Specify STD code)

Full name ..............................................

Address (including State or Territory and postcode)

.......................................................

Telephone No.............................(Specify STD code)

Is any person who is a director or secretary, or the principal executive officer, of the licensee a director of any other body corporate, whether incorporated in the Territory or elsewhere? ................Answer *Yes *No

If the answer is “Yes”, specify the following particulars in respect of each such person who holds such a directorship:

Full name of person	Full name of body corporate	Place of incorporation of body corporate	Date of appointment of person as director of body corporate

Answer the questions “Yes” or “No” in the space provided. If an answer is “Yes”, attach annexures giving all relevant particulars.

Within the past 10 years has any director, secretary or principal executive officer notice of whose appointment is given in Item 4, or any person referred to in Item 5, whether in Australia or elsewhere —

ANSWER

*8. CHANGE OF ADDRESS OF PRINCIPAL PLACE OF BUSINESS

(a) On the .............. day of...................19

the address of the principal place of business at which the licensee carries on the business to which the licence relates was changed from —

....................................................

to —

....................................................

*(b) On the .............. day of...................19 .....

the address(es) of the place(s) (other than the principal place of business) at which the business to which the licence relates is carried on *was/*were changed from —

....................................................

to —

....................................................

*(c) On the .............. day of...................19 .....

the name, or name and style, under which the business to which the licence relates is carried on was changed from —

....................................................

to —

....................................................

*9. CHANGE OF PARTICULARS OF PARTNERSHIP

On the .............. day of...................19 .....

(Insert name of the licensee) ceased to be a partner in the firm
of ..................................................

.................................................*and

became a partner in the firm of ...........................

....................................................

*10. Where the licensee is a firm, particulars of each person who became a partner in the firm are as follows:

Full name ............................................

Address (including State or Territory and postcode)...........

....................................................

Telephone No......................... (Specify STD code)

Became a partner on 19 .

Full name ............................................

Address (including State or Territory and postcode)...........

....................................................

Telephone No......................... (Specify STD code)

Became a partner on 19 .

*11. Where the licensee is a firm, particulars of each person who has ceased to be a partner in the firm are as follows:

Full name ............................................

Address (including State or Territory and postcode)...........

....................................................

Telephone No......................... (Specify STD code)

Ceased to be a partner on 19 .

Full name ............................................

Address (including State or Territory and postcode)..........

...................................................

Telephone No......................... (Specify STD code)

Ceased to be a partner on 19 .

Annex a statement in the following terms signed by each person referred to in Item 4:

“I, [insert the officer’s full name], *a director/*a secretary /*the principal executive officer of the licensee, consent to any police force providing information concerning any offences, other than traffic offences, of which I have been convicted in Australia or elsewhere within the past 10 years.

Dated 19 .

Signature of the new *director/*secretary/*the principal executive officer.

.......................”.

Dated 19 .

(5) Signature of the licensee ........................

*Strike out whichever is inapplicable.

NOTES

(1) Where a director is also a secretary or the principal executive officer, give particulars.

(2) Insert in relation to a new officer “Appointed” or “In place of (former officer’s name)”. Where there is no change, insert “Continuing”.

(3) Where the person concerned has or had under the law of a country other than Australia or of an external Territory a status equivalent to that of an insolvent under administration, annex particulars of that status.

If the person concerned is, or has been, an insolvent under administration, include in an annexure —

(a) the date on which the person was declared bankrupt, the district in which the person was declared bankrupt and the person’s bankruptcy number; or

(b) where the person has entered into a deed of arrangement or assignment or where the person’s creditors have accepted a composition under Part X of the Bankruptcy Act 1966 —

(i) the district in which the deed of arrangement or assignment was entered into or the composition accepted;

(ii) the date of the deed of arrangement or assignment or the special resolution accepting the composition;

(iii) the full name and the address of the trustee of the deed of arrangement or assignment or of the composition; and

(iv) the identifying number used in relation to the deed of arrangement or assignment or the composition in the office of the Registrar in Bankruptcy.

(4) To be used where the business of any futures broker or futures adviser named in the licence as a person on whose behalf the licensee may act is carried on under a name other than the name of that futures broker or futures adviser.

(5) Where the licensee is a body corporate, a person who is a director or secretary, or the principal executive officer, of the body corporate shall sign on behalf of the licensee and set out the person’s full name and the capacity in which the person signs.

DIRECTION

Where there is insufficient space on this form to provide the required information, show the information in a separate annexure. The requirements relating to annexures are set out in regulation 5 of the Futures Industry Regulations.

NOTICE OF RELEVANT STATUTORY PROVISION

Subsection 142 (2) of the Futures Industry Act 1986 provides —

“(2) A person shall not, for the purposes of this Act, lodge with the Commission, a futures exchange, a clearing house for a futures exchange, or a futures association, a document that contains a statement that to the person’s knowledge is false or misleading.

Penalty: $2,500 or imprisonment for 6 months, or both.”.

Form 8 Futures Industry

(subsection 74 (1))

(subregulations 21 (1) and (2))

ANNUAL STATEMENT BY A LICENSEE (INCLUDIN

ANNUAL STATEMENT BY A LICENSEE (INCLUDING A FORMER LICENSEE) OTHER THAN A BODY CORPORATE

(a) The licensee’s surname is — .........................

The licensee’s other names are — .....................

(b) The residential address of the licensee is —

.................................................

State or Territory .................Postcode..........

Telephone No...................... (Specify STD code)

.................................................

State or Territory .................Postcode..........

Telephone No...................... (Specify STD code)

(d) The licensee holds *futures broker’s/*futures adviser’s licence No.

(a) The name(s) under which the business of the licensee is or was carried on *is/*are —

.................................................

(b) The address of the principal place at which the business of the licensee is or was carried on is —

.................................................

State or Territory .................Postcode..........

Telephone No...................... (Specify STD code)

Telex No. ........................................

Facsimile No. .....................................

(c) The addresses of all other places, whether within Australia or elsewhere, at which the business of the licensee is or was carried on are —

.................................................

State, Territory or country ..........Postcode..........

Telephone No...................... (Specify STD code)

Telex No. ........................................

Facsimile No. .....................................

.................................................

State, Territory or country ..........Postcode..........

Telephone No. .............. (Specify STD/ISD code)

Telex No. ........................................

Facsimile No. .....................................

(d) This statement relates to the period from ..... / .... /19.....
to ......... / ..... / 19 ..... (both dates inclusive).

The following changes in the nature of the activity for which the licence is or was held took place during the period to which this statement relates:

....................................................

(a) Particulars of the persons with whom the licensee is carrying on business in partnership are as follows:

Full name ........................................

Address (including State or Territory and postcode)

.................................................

Telephone No...................... (Specify STD code)

Full name ........................................

Address (including State or Territory and postcode)

.................................................

Telephone No...................... (Specify STD code)

(b) The licensee’s interest in the partnership (expressed as a percentage of total capital in the partnership) is —

.................................................

(c) Particulars of each person who, directly or indirectly, exercises, or has or will have power to exercise, a controlling influence over the management and policies of the business (other than the persons referred to in paragraph (a)) are as follows:

Full name ........................................

Address (including State or Territory and postcode)

.................................................

Telephone No. .................. (Specify STD code)

Full name ........................................

Address (including State or Territory and postcode)

.................................................

Telephone No...................... (Specify STD code)

(d) Particulars of the persons who directly or indirectly have any share in profits of the business, other than the persons referred to in paragraph (a), are —

Full name ........................................

Address (including State or Territory and postcode)

.................................................

Telephone No...................... (Specify STD code)

Full name ........................................

Address (including State or Territory and postcode)

.................................................

Telephone No...................... (Specify STD code)

During the period to which this statement relates, has the licensee —

(a) been appointed a director of any body corporate (wherever incorporated)?

................................Answer *Yes *No

If the answer is “Yes”, specify the following particulars of the directorship(s) held:

Full name of body corporate	Place of incorporation of body corporate	Date of appointment as a director of body corporate

(b) ceased to be a director of any body corporate (wherever incorporated)?

................................Answer *Yes *No

If the answer is “Yes”, specify the following particulars of the directorship(s) which the licensee has ceased to hold:

Full name of body corporate	Place of incorporation of body corporate	Date on which licensee ceased to be director of body corporate

Answer the questions “Yes” or “No” in the space provided. If an answer is “Yes”, attach annexures giving all relevant particulars.

During the period to which this statement relates, has the licensee, or any person referred to in Item 4 (a) or (c) whether in Australia or elsewhere —

ANSWER

Is the licensee a member of a futures exchange or futures association?

Answer *Yes/*No

If the answer is “Yes” —

(a) specify the name of the futures exchange or futures association:

(b) specify the class or classes of that membership:

(d) state whether the licensee is permitted to deal in all kinds of futures contracts:

(e) if the licensee is permitted to deal only in certain kinds of futures contracts, specify those kinds:

8(2). The licensee consents to any police force providing information concerning any offences, other than traffic offences, of which the licensee has been convicted in Australia or elsewhere during the period to which this statement relates.

8A. The names of the persons:

(a) who, when this statement is lodged, hold; or

(b) who, when the person lodging this statement last ceased to be a licensee, held;

as the case may be, proper authorities from the licensee are (state names in full), and the total number of those persons is (state number).

Dated 19 .

Signature of the licensee....................................

Note: * Strike out whichever is inapplicable.

NOTES

(1) Where the licensee has or had under the law of a country other than Australia or of an external Territory a status equivalent to that of an insolvent under administration, annex particulars of that status.

If the licensee is, or has been, an insolvent under administration, include in an annexure —

(a) the date on which the licensee was declared bankrupt, the district in which the licensee was declared bankrupt and the licensee’s bankruptcy number: or

(b) where the licensee has entered into a deed of arrangement or assignment or where the licensee’s creditors have accepted a composition under Part X of the Bankruptcy Act 1966 —

(i) the district in which the deed of arrangement or assignment was entered into or the composition accepted;

(ii) the date of the deed of arrangement or assignment or the special resolution accepting the composition;

(iii) the full name and the address of the trustee of the deed of arrangement or assignment or of the composition; and

(iv) the identifying number used in relation to the deed of arrangement or assignment or the composition in the office of the Registrar in Bankruptcy.

(2) A conviction for an offence is not necessarily an impediment to the holding of a licence.

DIRECTIONS

Where there is insufficient space on this form to provide the required information, give the information in a separate annexure. The requirements relating to annexures are set out in regulation 5 of the Futures Industry Regulations.
In the case of a licensee who is a futures broker, annex a profit and loss account and balance sheet in Form 14 in respect of the financial year ending on 30 June in the year to which this statement relates or lodge that account and balance sheet before the expiration of the immediately succeeding 31 August as required by section 95 of the Futures Industry Act 1986.
Annex a statement —

(a) where the licence is a futures broker’s licence, made up as at 30 June each year; or

(b) where the licence is a futures adviser’s licence, made up as at a date not earlier than 14 days before the date of this annual statement,

signed by the licensee, disclosing the licensee’s total liabilities together with details of the licensee’s assets in accordance with the provisions of Directions 4 to 10 (inclusive).

Where the licensee’s total tangible assets (excluding the value of any membership of a futures exchange or a futures association or of any stock, securities or other trading exchange) —

(a) exceed the licensee’s total liabilities (including liabilities of a contingent nature) by $50,000 or more, give in the statement full particulars (including the basis of valuation) of those assets up to an amount which exceeds those liabilities by not less than $50,000; or

(b) do not exceed the licensee’s total liabilities (including liabilities of a contingent nature) by $50,000 or more, give in the statement full particulars (including the basis of valuation) of all the licensee’s assets.

Where any of the disclosed assets are vested in the licensee and any other person, or are encumbered in any manner, give in the statement full particulars of the vesting or encumbrance.
Give in the statement full particulars of the licensee’s liabilities —

(a) in the case of liabilities (excluding liabilities of a contingent nature) expressed in terms of the time when they will fall due, as follows:

(i) due not later than in one year’s time;

(ii) due later than in one year’s time but not later than in 3 years’ time; or

(iii) due later than in 3 years’ time; and

(b) in the case of liabilities of a contingent nature expressed separately in terms of the time when they would be most likely to fall due, as follows:

(i) due not later than in one year’s time;

(ii) due later than in one year’s time but not later than in 3 years’ time; or

(iii) due later than in 3 years’ time.

Where the licensee is a partner in a firm, a reference in these directions to the licensee’s assets and liabilities includes a reference to such part of the assets and liabilities of the firm as does not exceed the licensee’s proportional interest in the firm’s business under the partnership agreement. Give in the statement the precise extent of the licensee’s interest, under the partnership agreement, in the assets and liabilities of the firm.
In the case of a licensee who is a futures adviser, give in the statement —

(a) information as to the assets and liabilities of the licensee’s business which must take the form of the last audited profit and loss account and balance sheet (including every document required by law to be attached to that account and balance sheet); or

(b) in the case of a licensee who is unable to comply with paragraph (a), a profit and loss account and balance sheet —

(i) prepared in accordance with the approved accounting standards, within the meaning of subsection 266 (1) of the Companies Act 1981, with which the applicant would be required to comply if the applicant were a body corporate;

(iii) signed by the applicant or, where the applicant is a partner in a firm, by all the partners of the firm.

In the case of a licensee who is a futures adviser, if the profit and loss account and balance sheet of the licensee’s business are made up as at a date earlier than 14 days before the date of this statement, annex a report signed by the licensee or, where the licensee is a partner in a firm, by all the partners of the business to which the accounts relate, stating, in respect of the interval between the date as at which the balance sheet has been made up and a date not earlier than 14 days before the date of this statement, that due inquiry has been made by the person or persons signing the report and setting out whether or not, in the opinion of the licensee or those partners —

(c) there have arisen any liabilities of a contingent nature including those arising under any guarantee given by the licensee or any of his or her partners and providing full details of any such liabilities.

In the case of a licensee who is a futures broker, annex a statement signed by the licensee stating whether, after due inquiry by the licensee in respect of the interval between 30 June and a date not earlier than 14 days before the lodgment of this statement, there have arisen any circumstances that may adversely affect the financial position of the licensee and, if so, giving full particulars of those circumstances.

NOTICE OF RELEVANT STATUTORY PROVISIONS

Section 75 of the Futures Industry Act 1986 provides in relation to futures brokers’ licences and futures advisers’ licences —

“75. A person required by section 74 to lodge a statement shall lodge the statement —

(a) if the licence is a futures broker’s licence — during the period within which a profit and loss account and balance sheet referred to in section 95 are required to be lodged with the Commission by the person;

(b) if the licence is a futures adviser’s licence — within the period of one month immediately before the anniversary of the date on which the licence was granted; . . .”.

Subsection 142 (2) of the Futures Industry Act 1986 provides:

Penalty: $2,500 or imprisonment for 6 months, or both.”.

Form 9 Futures industry

(subsection 74 (1))

(subregulations 21 (1) and (2))

More sections below

Source text: opening excerpt

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

NOTICE RELATING TO A REQUIREMENT TO DISC NOTICE RELATING TO A REQUIREMENT TO DISCLOSE INFORMATION TO THE COMMISSION

NOTICE RELATING TO A REQUIREMENT TO DISCLOSE INFORMATION TO THE COMMISSION

*Dated 19 . Signature of person giving notice:

*Given under the Seal of the National Companies and Securities Commission at on this day of 19 .

*Strike out whichever is inapplicable.

Form 2 Futures Industry

(subsection 25 (1))

(subregulation 14 (1))

NOTICE OF REQUIREMENT BY AN INSPECTOR IN NOTICE OF REQUIREMENT BY AN INSPECTOR INVESTIGATING MATTERS RELATING TO DEALING IN FUTURES CONTRACTS

NOTICE OF REQUIREMENT BY AN INSPECTOR INVESTIGATING MATTERS RELATING TO DEALING IN FUTURES CONTRACTS

To: (1)

In relation to an investigation of (2) ................................

.............................................................

TAKE NOTICE that under subsection 25 (1) of the Futures Industry Act 1986 you are required—

(a) to appear on (3) ....... 19 , at (4) ........... before (5) ......................

at (6) ...............................................

...................................................

for examination on oath or affirmation and to answer questions put to you in relation to the investigation;

(a) held a licence or been registered in any place other than in the Territory under any law which requires licensing or registration in relation to dealing in futures contracts or acting as a futures adviser?	.........
(b) held a licence or been otherwise authorised by law to carry on any trade, business or profession?	.........
(c) been affected in the right to carry on any trade, business or profession for which a specific licence, registration or other authority is required by law?	.........
(d) been a member, or partner in a member firm, of any futures exchange or futures association or of any stock, securities or other trading exchange?	.........
(e) dealt in futures contracts on the applicant’s own account?	.........
(f) been an agent, employee or officer of, a representative of, or a partner, or other participant, in a business that dealt in futures contracts on its own account?	.........
(g) been affected by disciplinary measures (including suspension or removal from membership) imposed by any futures exchange, futures association, stock, securities or other trading exchange or professional body?	.........
(h) been refused membership of any futures exchange or futures association or of any stock, securities or other trading exchange or professional body?	.........
(i) carried on business under any name other than the name or names shown in this application?	.........
(j) been known by any name other than the name or names shown in this application?	.........
(k) had judgment (including findings in relation to fraud, misrepresentation or dishonesty) given against the applicant in any civil proceedings? (If the answer is “Yes”, using an annexure, give full details, including whether or not the judgment is unsatisfied.)	.........
(l)(1) been an insolvent under administration?	.........
(m) been convicted of any offence, other than a traffic offence?	.........
(n) been the subject of any proceedings which are pending and which may lead to a conviction for an offence, other than a traffic offence?	.........
(o) been engaged in the management of any bodies corporate other than those referred to in Item 6?	.........
(p) been refused a fidelity or surety bond or professional indemnity insurance?	.........