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Commonwealth act
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Direct links to the current provisions in Securities Industry Act 1980.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
An Act relating to the securities industry in the Australian Capital Territory
This Act may be cited as the Securities Industry Act 1980.
This Act shall come into operation on a date to be fixed by Proclamation.
(1) The object of this Act is to regulate the securities industry in the Australian Capital Territory and this Act has effect, and shall be construed accordingly. (2) The Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 applies to this Act.
The provisions of this Part have effect for the purposes of this Act, except so far as the contrary intention appears in this Act.
(1) In this Act, unless the contrary intention appears:
accounting records includes invoices, receipts, orders for the payment of money, bills of exchange, cheques, promissory notes, vouchers and other documents of prime entry and also includes such working papers and other documents as are necessary to explain the methods and calculations by which accounts are made up.
approved securities organisation means a body corporate that is approved by the Ministerial Council under section 38A.
arbitrage transaction means a purchase or sale of securities effected in the ordinary course of trading on a stock market together with an offsetting sale or purchase of those securities effected at the same time, or at as nearly the same time as practicable, in the ordinary course of trading on another stock market for the purpose of obtaining a profit from the difference between the prices of those securities in the 2 stock markets.
articles means articles of association.
Australian company law means the Companies Act 1981 or the provisions of:
(a) a previous law of the Territory; or
(b) a law, or a previous law, of a State or of another Territory;
that correspond with that Act.
banker’s books means:
(a) books of a banking corporation, including any documents used in the ordinary business of a banking corporation;
(b) cheques, orders for the payment of money, bills of exchange and promissory notes in the possession or under the control of a banking corporation; and
(c) securities or documents of title to securities in the possession or under the control of a banking corporation whether by way of pledge or otherwise.
banking corporation means:
(a) a bank as defined in section 5 of the Banking Act 1959; or
(c) a bank constituted under a law of a State or Territory.
banning order means an order made under section 62G and in force under Division 5 of Part IV.
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.
business rules, in relation to a body corporate, means:
(a) in the case of a body corporate that maintains or provides, or proposes to maintain or provide, a stock market—the provisions of the constituent documents of the body corporate and any other rules, regulations or by‑laws made by the body corporate, other than rules, regulations or by‑laws that are listing rules of the body corporate; and
(b) in any other case—the provisions of the constituent documents of the body corporate and any other rules, regulations or by‑laws made by the body corporate.
committee, in relation to a body corporate, means the committee of management, board of directors, council or other governing authority of the body corporate.
condition, in relation to a licence, means a condition or restriction to which the licence is subject, or will be subject, as the case requires.
Corporation means a body corporate in relation to which a nomination as the National Securities Exchanges Guarantee Corporation is in force under subsection 122BA(1).
dealer means:
(a) a person who carries on a securities business; or
(b) 2 or more persons who together carry on a securities business.
dealers licence means a dealers licence granted under Part IV.
dealing, in relation to securities, means (whether as principal or agent) acquiring, disposing of, subscribing for or underwriting the securities, or making or offering to make, or inducing or attempting to induce a person to make or to offer to make, an agreement:
(a) for or with respect to acquiring, disposing of, subscribing for or underwriting the securities; or
(b) the purpose or purported purpose of which is to secure a profit or gain to a person who acquires, disposes of, subscribes for or underwrites the securities or to any of the parties to the agreement in relation to the securities.
director, in relation to a body corporate, includes:
(a) any person occupying or acting in the position of director of the body corporate, by whatever name called and whether or not validly appointed to occupy or duly authorized to act in the position;
(b) any person in accordance with whose directions or instructions the directors of the body corporate are accustomed to act; and
(c) in the case of a body corporate incorporated or formed outside the Territory:
(i) a member of the committee of management, council or other governing body of the body corporate;
(ii) any person occupying or acting in the position of member of the committee of management, council or other governing body of the body corporate, by whatever name called and whether or not validly appointed to occupy or duly authorised to act in the position; and
(iii) any person in accordance with whose instructions the members of the committee of management, council or other governing body of the body corporate are accustomed to act.
eligible money market dealer means a body corporate in respect of which a declaration is in force under paragraph 97(7)(b) of the Companies Act 1981.
event includes any happening, circumstance or state of affairs.
Exchange means Australian Stock Exchange Limited.
Exchange subsidiary means a securities exchange, or a recognised securities exchange, that is a subsidiary of the Exchange.
executive officer, in relation to a body corporate, means any person, by whatever name called and whether or not he is a director of the body corporate, who is concerned, or takes part, in the management of the body corporate.
exempt dealer has the meaning given by section 6C.
exempt investment adviser has the meaning given by section 6C.
exempt public authority means a body corporate that is incorporated within Australia and is a public authority or an instrumentality or agency of the Crown in right of the Commonwealth or of a State or Territory.
exempt stock market means a stock market in relation to which, or a stock market included in a class of stock markets, being a class in relation to which, a declaration under subsection 37(1A) is in force.
externally‑administered body corporate means a body corporate:
(a) that is being wound up under an Australian company law;
(b) in respect of property of which a receiver, or a receiver and manager, has been appointed under an Australian company law (whether or not by a court) and is acting;
(c) that is under official management under an Australian company law; or
(d) that has, whether in the Territory or elsewhere, entered into a compromise or arrangement with its creditors that is still in operation.
fidelity fund, in relation to a securities exchange, means the fidelity fund (if any) that section 100 requires or required the securities exchange to establish and keep.
function includes a duty.
Fund means the National Guarantee Fund established under subsection 122CA(1).
have, in relation to information, includes be in possession of the information.
hold, in relation to a person, in relation to a document that is, or purports to be, a copy of a licence, means have in the person’s possession.
included, in relation to an official list, has the meaning given by section 6D.
information service means:
(a) a broadcasting service;
(b) an interactive or broadcast videotext or teletext service or a similar service;
(c) an online database service or a similar service; or
(d) any other prescribed service.
insolvent under administration means a person who:
(a) under the Bankruptcy Act 1966 or the law of an external Territory, is a bankrupt in respect of a bankruptcy from which he has not been discharged; or
(b) under the law of a country other than Australia or the law of an external Territory, has the status of an undischarged bankrupt;
and includes:
(c) a person who has executed a deed of arrangement under Part X of the Bankruptcy Act 1966 or the corresponding provisions of the law of an external Territory or of the law of a country other than Australia where the terms of the deed have not been fully complied with; and
(d) a person whose creditors have accepted a composition under Part X of the Bankruptcy Act 1966 or the corresponding provisions of the law of an external Territory or of the law of a country other than Australia where a final payment has not been made under that composition.
invalid authority has the meaning given by subsection 6F(2).
investment advice business has the meaning given by section 6E.
investment adviser means a person who carries on, or 2 or more persons who together carry on, an investment advice business.
investment advisers licence means an investment advisers licence granted under Part IV.
investment contract means any contract, scheme or arrangement that, in substance and irrespective of the form of the contract, scheme or arrangement, involves the investment of money in or under such circumstances that the investor acquires or may acquire an interest in or right in respect of property, whether in the Territory or elsewhere, that, under, or in accordance with, the terms of investment will, or may at the option of the investor, be used or employed in common with any other interest in or right in respect of property, whether in the Territory or elsewhere, acquired in or under like circumstances.
licence means a dealers licence or an investment advisers licence.
licensee means a person who holds a licence and, in relation to a licence, means the person who holds the last‑mentioned licence.
liquidator includes a provisional liquidator.
listing rules, in relation to a body corporate that maintains or provides, or proposes to maintain or provide, a stock market, means rules, regulations or by‑laws governing or relating to:
(a) the admission to, or removal from, the official list of the body corporate of bodies corporate, governments, unincorporate bodies or other persons for the purpose of the quotation on the stock market of the body corporate of securities of, or made available by, bodies corporate, governments, unincorporate bodies or other persons and for other purposes; or
(b) the activities or conduct of bodies corporate, governments, unincorporate bodies and other persons who are admitted to that list;
whether those rules, regulations or by‑laws:
(c) are made by the body corporate or are contained in any of the constituent documents of the body corporate; or
(d) are made by another person and adopted by the body corporate.
local Exchange subsidiary means a securities exchange that is an Exchange subsidiary.
lodge means lodge with the Commission.
marketable parcel, in relation to securities that are listed for quotation on the stock market of a securities exchange, means a marketable parcel of those securities within the meaning of the relevant business rules or listing rules of that securities exchange.
member, in relation to a securities exchange or a recognised securities exchange, means, except in the definition of member organisation and in Part IIA, a person who is, or who is a partner in, a member organisation of the securities exchange or recognised securities exchange.
member firm, in relation to a securities exchange or a recognised securities exchange, means a partnership that is a member organisation of the securities exchange or recognised securities exchange.
member organisation, in relation to a securities exchange or a recognised securities exchange, means:
(a) a member of the securities exchange or recognised securities exchange who or that carries on a business of dealing in securities on his, her or its own account and not in partnership; or
(b) a partnership that carries on a business of dealing in securities and is recognised by the securities exchange or recognised securities exchange as a member organisation or member firm.
memorandum means memorandum of association.
non‑dealer means a person who is neither a dealer nor one of 2 or more persons who together constitute a dealer.
officer, in relation to a body corporate, includes:
(a) a director, secretary, executive officer or employee of the body corporate;
(b) a receiver and manager of property of the body corporate appointed under a power contained in an instrument;
(c) an official manager or deputy official manager of the body corporate;
(d) a liquidator of the body corporate appointed in a voluntary winding up of the body corporate; and
(e) a trustee or other person administering a compromise or arrangement made between the body corporate and another person or other persons;
but does not include:
(f) a receiver who is not also a manager;
(g) a receiver and manager appointed by a court; or
(h) a liquidator appointed by a court.
on, in relation to a stock market, includes at or by means of.
participation interest means any right to participate, or any interest:
(a) in any profits, assets or realisation of any financial or business undertaking or scheme whether in the Territory or elsewhere;
(b) in any common enterprise, whether in the Territory or elsewhere, in relation to which the holder of the right or interest is led to expect profits, rent or interest from the efforts of the promoter of the enterprise or a third party; or
(c) in any investment contract;
whether or not the right or interest is enforceable, whether the right or interest is actual, prospective or contingent, whether or not the right or interest is evidenced by a formal document and whether or not the right or interest relates to a physical asset, but does not include:
(d) such a right that is a right to participate in a time‑sharing scheme;
(e) any share in, or debenture of, a corporation;
(f) any interest in, or arising out of, a policy of life insurance; or
(g) an interest in a partnership agreement, unless the agreement or proposed agreement:
(i) relates to an undertaking, scheme, enterprise or investment contract promoted by or on behalf of a person whose ordinary business is or includes the promotion of similar undertakings, schemes, enterprises or investment contracts, whether or not that person is, or is to become, a party to the agreement or proposed agreement; or
(ii) is or would be an agreement, or is or would be within a class of agreements, prescribed by the regulations for the purposes of this paragraph.
prescribed interest means:
(a) a participation interest; or
(b) a right, whether enforceable or not, whether actual, prospective or contingent and whether or not evidenced by a formal document, to participate in a time‑sharing scheme;
but does not include a right or interest, or a right or interest included in a class or kind of rights or interests, declared by the regulations to be an exempt right or interest, or a class or kind of exempt rights or interests.
proper authority has the meaning given by section 6F.
publish includes issue.
quarter day means 31 March, 30 June, 30 September or 31 December.
quotation, in relation to securities, in relation to a stock market of a securities exchange, includes the displaying
This is an opening excerpt, not the complete document.