(Indicate whether those places are established or are to be established)
Schedule APPLICATION BY A NATURAL PERSON FOR A FU - Futures Industry Regulations - APPLICATION BY A NATURAL PERSON FOR A FUTURES BROKER’S LICENCE OR A FUTURES ADVISER’S LICENCE | Zoe
The nature of the principal business of the applicant is —
The activity for which the applicant requires a licence is — (Specify in detail).........................................................................
(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)
(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)
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
(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?
.........
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:
(c) specify the applicant’s membership number or numbers:
(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.”.