CTHRepealedAct
Securities Industry Act 1980
6FProper authority; invalid authority
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##### 6F Proper authority; invalid authority
(1) A reference, in relation to a person (in this subsection called the representative), to a proper authority from a person (in this subsection called the principal) who holds a licence is a reference to a copy of the licence on which are endorsed:
(a) a statement:
(i) certifying the copy to be a true copy of the licence;
(ii) stating that the representative is employed by, or acts for or by arrangement with, the principal; and
(iii) signed by the principal; and
(b) in relation to each licensee (if any), other than the principal, of whom the representative is a representative, a statement that:
(i) sets out the name of the licensee;
(ii) states that the representative is employed by, or acts for or by arrangement with, the licensee;
(iii) states that the licensee consents to the representative being employed by, or acting for or by arrangement with, the principal; and
(iv) is signed by the licensee.
(2) A reference, in relation to a person (in this subsection called the representative), to an invalid authority from a person (in this subsection called the principal) is a reference to a document:
(a) on which is endorsed a statement:
(i) stating that the representative is employed by, or acts for or by arrangement with, the principal; and
(ii) signed by the principal; and
(b) that purports to be a copy of a licence and to be a proper authority of the representative from the principal, but is not in fact such a proper authority;
whether or not:
(c) the principal is, or has ever been, a licensee; or
(d) the document is in fact a copy of a licence that exists or has ever existed.
(3) For the purposes of this section, a statement is signed by a person if, and only if, it is signed:
(a) if the person is a natural person—by the person; or
(b) if the person is a body corporate:
(i) by a director or secretary; or
(ii) by an executive officer who is authorised to sign the statement.
(4) In this section:
> licence includes a recognised licence.
> licensee includes a recognised licensee.