Securities Industry Act 1980
6JSecurities business
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6J Securities business
(1) A securities business is a business of dealing in securities. (2) Subsections (4), (5) and (6) apply for the purposes of determining:
(a) whether or not a person carries on, or holds himself, herself or itself out as carrying on, a securities business; and
(b) what constitutes such a business carried on by a person.
(3) Subsection (6) also applies for the purposes of determining whether or not a person deals in securities. (4) An act done on behalf of the person by the holder of a dealers licence, an exempt dealer, or a recognised dealer shall be disregarded. (5) An act that the person does:
(a) while employed by, or acting for or by arrangement with, a dealer;
(b) as employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the dealer; and
(c) in connection with a securities business carried on by the dealer;
shall be disregarded. (6) An act or acts done by the person that constitutes or together constitute, for the purposes of:
(a) the Futures Industry Act 1986; or
(b) the provisions of a law of a participating State or participating Territory that correspond with that Act;
a dealing by the person in a futures contract, shall be disregarded.