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S.R. No. 37/80 Cat. No. —Recommended retail price $1.80 88/21.5.1981

TABLE OF PROVISIONS—continued

Regulation

43. Notice of appeal

44. Notice calling for claims against fund

45. Notice of disallowance of claim

46. Prohibition of dealings in securities by insiders

47. Dealings by employees of holders of licences

48. Period for which documents are to be retained

SCHEDULE 1

Forms

SCHEDULE 2

Witnesses' fees and travelling expenses

Statutory Rules 1981 No. 1271

_________

Securities Industry Regulations

WHEREAS it is provided by sub-section (5) of section 150 of the Securities Industry Act 1980 that the power of the Governor-General to make regulations under that Act shall be exercised only in accordance with advice that is consistent with resolutions of the Ministerial Council for Companies and Securities established under the Agreement made on 22 December 1978 between the Commonwealth and the States:

AND WHEREAS it is provided by section 16a of the Acts Interpretation Act 1901 that a reference in an Act to the Governor-General is, unless the contrary intention appears, to be deemed to include the person for the time being administering the Government of the Commonwealth of Australia and is, unless the contrary intention appears, to be read as referring to that person acting with the advice of the Federal Executive Council:

AND WHEREAS the making of the following Regulations is in accordance with advice that is consistent with those resolutions:

NOW THEREFORE I, the Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and in pursuance of section 4 of the Acts Interpretation Act 1901, hereby make the following Regulations under the Securities Industry Act 1980.

Dated 3 June 1981.

STANLEY BURBURY

Administrator

By His Excellency's Command,

(Sgd) John Moore

Minister of State for Business and Consumer Affairs

––––––––—

Citation

1. These Regulations may be cited as the Securities Industry Regulations.

Interpretation

2. In these Regulations, unless the contrary intention appears—

"bank" means a bank as defined in section 5 of the Banking Act 1959 of the Commonwealth, the Primary Industry Bank of Australia Limited or a bank constituted under a law of a State or Territory;

"corporation" means any body corporate, whether formed or incorporated within or outside the Territory;

"life office" means a body corporate registered under the Life Insurance Act 1945 of the Commonwealth;

"superannuation scheme" means a fund the income of which is for the time being exempt from income tax by reason of paragraph 23 (jaa) or 23 (ja) of the Income Tax Assessment Act 1936 of the Commonwealth or a fund to which section 23f of that Act applied in relation to its last year of income;

"the Act" means the Securities Industry Act 1980;

"trustee" in relation to a superannuation scheme includes a person responsible for the administration and management of the scheme.

Compliance with forms

3. Strict compliance with the forms in Schedule 1 is not necessary and substantial compliance, or such compliance as the particular circumstances allow, is sufficient.

Directions and instructions to be followed

4. (1) A form in Schedule 1 shall be completed in accordance with such directions and instructions as are specified in the form.

(2) In these Regulations a reference to a form by number is a reference to the form in Schedule 1 which bears that number.

General requirements for documents

5. The Commission may refuse to receive a document for filing or lodging under the Act or these Regulations unless—

(a) the document is legibly and clearly printed, typewritten or handwritten—

(i) in ink of a type to provide a satisfactory reproduction; and

(ii) on paper of medium weight, of good quality and of foolscap folio size or international sheet size A4;

(b) the document has margins of not less than 25 millimetres on the left hand side and not less than 13 millimetres on the right hand side;

(c) in the case of a document comprising two or more sheets—

(i) the sheets are bound together securely; and

(ii) each sheet has a margin of not less than 25 millimetres on the side on which it is bound in addition to any space required for binding; and

(d) the document has endorsed on it the name, address and telephone number of the person by whom or on whose behalf it is filed or lodged, or of the person acting on behalf of such a person.

Prescribed percentages and offices under section 5 of the Act

6. (1) For the purposes of paragraph 5 (4) (e) of the Act, the prescribed percentage is 20%.

(2) For the purposes of paragraph 5 (7) (c) of the Act, the prescribed percentage is 20%.

(3) For the purposes of paragraph 5 (8) (b) of the Act, each of the following offices is prescribed:

(a) the office of Treasurer of the Commonwealth;

(b) the office of the trustee under, or continued under, Parts IV, X and XI of the Bankruptcy Act 1966 of the Commonwealth;

(c) the office of Controller of Enemy Property under the National Security (Enemy Property) Regulations of the Commonwealth;

(d) the office of Treasurer of the State of Western Australia;

(e) the office of Commissioner for Corporate Affairs for the State of Western Australia;

(f) the office of Public Trustee under the Public Trustee Act 1941 of the State of Western Australia;

(g) the office of Master and the office of Registrar of the Supreme Court, within the meaning of the Supreme Court Act 1935 of the State of Western Australia;

(h) the office of Treasurer of the State of Victoria;

(i) the office of Commissioner for Corporate Affairs for the State of Victoria;

(j) the office of Public Trustee under the Public Trustee Act 1958 of the State of Victoria;

(k) the office of Master of the Supreme Court of Victoria within the meaning of the Supreme Court Act 1958 of the State of Victoria;

(l) the office of Treasurer of the State of New South Wales;

(m) the office of Public Trustee under the Public Trustee Act, 1913, of the State of New South Wales;

(n) the office of Master under Division 1 of Part VIII of the Supreme Court Act, 1970, of the State of New South Wales;

(o) the office of Supervisor of Loan Fund Companies under the Loan Fund Companies Act, 1976, of the State of New South Wales;

(p) the office of Protective Commissioner under the Mental Health Act, 1958, of the State of New South Wales;

(q) the office of Treasurer of the State of Queensland;

(r) the office of Commissioner for Corporate Affairs for the State of Queensland;

(s) the office of Public Trustee under the Public Trustee Act 1978 of the State of Queensland;

(t) the office of Registrar under the Supreme Court Acts 1861-1980 of the State of Queensland;

(u) the office of Treasurer of the State of South Australia;

(v) the office of Curator of Prisoners Property under the Criminal Law Consolidation Act 1935-1980 of the State of South Australia;

(w) the office of Public Trustee under the Administration and Probate Act 1919-1980 of the State of South Australia;

(x) the office of Master or accountant under the Supreme Court Act 1935-1980 of the State of South Australia;

(y) the office of administrator under Chapter XLIX of the Criminal Code of the State of Tasmania;

(z) the office of Treasurer of the State of Tasmania;

(za) the office of Commissioner for Corporate Affairs for the State of Tasmania;

(zb) the office of Public Trustee under the Public Trustee Office Act 1930 of the State of Tasmania;

(zc) the office of Registrar of the Supreme Court under the Supreme Court Act 1959 of the State of Tasmania;

(zd) the office of Curator of Estates of Deceased Persons under the Administration and Probate Ordinance 1929 of the Australian Capital Territory;

(ze) the office of Registrar of the Supreme Court under the Australian Capital Territory Supreme Court Act 1933 of the Commonwealth;

(zf) the office of Registrar of Companies for the Australian Capital Territory.

(4) In sub-regulation (3), a reference to a State Act shall be construed as a reference to that State Act as amended and in force for the time being.

Evidence of authority under sub-section 8 (2) of the Act

7. Where a person produces a document that is issued by the Commission and that document states that the person may require the production of books in accordance with paragraph 8 (2) (a) or 8 (2) (b), as the case may be, of the Act, that document shall be evidence of the person's authority to require the production of books in accordance with the paragraph specified in that document.

Notice under sub-section 12 (3d) of the Act

8. A notice under sub-section 12 (3d) of the Act shall be in accordance with Form 1.

Notice under sub-section 19 (1) of the Act

9. (1) A notice under sub-section 19 (1) of the Act shall be in accordance with Form 2.

(2) A notice under sub-section 19 (1) of the Act shall be given by—

(a) delivering a copy of the notice to the prescribed person personally;

(b) sending the notice by pre-paid post addressed to the prescribed person at his usual or last known place of residence or business; or

(c) leaving a copy of the notice at the last known place of residence or business of the prescribed person with a person apparently resident or employed at that place and apparently over the age of 16 years.

Allowances and expenses payable to persons being examined

10. For the purposes of sub-section 19 (11) of the Act, the allowances and expenses to which a person who attends at an examination under section 19 of the Act is entitled are such allowances as the inspector allows in accordance with the scale in. Schedule 2 to these Regulations.

Record of examination

11. Where a record of the questions asked or answers given at an examination under Division 2 of Part II of the Act is in writing the record may be authenticated—

(a) by the person or persons who prepared the record of examination, or under whose supervision the record was prepared, certifying in writing under that person's hand that the record is a true transcript of the record of examination; or

(b) by any person present at the examination, or any part of the examination, signing his name at the bottom of each page of the written record which records a part of the examination at which that person was present.

Application for approval as a stock exchange

12. An application by a body corporate to the Ministerial Council for the approval of a body corporate as a stock exchange shall be in accordance with Form 3.

Application by a natural person for dealers or investment advisers licence

13. An application to the Commission by a natural person for a dealers licence or an investment advisers licence shall be in accordance with Form 4.

Application by a corporation for dealers or investment advisers licence

14. An application to the Commission by a corporation for a dealers licence or an investment advisers licence shall be in accordance with Form 5.

Application for dealer's representatives or investment representatives licence

15. An application to the Commission for the grant of a dealer's representatives licence or an investment representatives licence shall be in accordance with Form 6.

Applications for licence to be enclosed in sealed envelope

16. Where an applicant lodges with the Commission an application under regulation 12, 13, 14 or 15, the application shall be enclosed in a sealed envelope on which there are clearly marked—

(a) words indicating the nature of the application; and

(b) the name, address and telephone number of the applicant.

Application to Commission to vary a representatives licence

17. An application to the Commission under sub-section 50 (1) of the Act for the variation of a representatives licence shall be in accordance with Form 7.

Conditions to which licence is subject

18. (1) For the purposes of section 51 of the Act, a licence is granted subject to a condition that the holder of the licence shall immediately notify the local authority in writing of any matter that may adversely affect the financial position of the holder of the licence.

(2) Where, in accordance with section 51 of the Act, a licence is subject to a condition that the holder of the licence lodges with the local authority a security approved by the Commission for an amount not exceeding $20,000, the whole or part of which is payable to the local authority in certain circumstances, the licence is also subject to a condition that that amount be applied in accordance with sub-regulation (5) for the purposes of compensating a person who has suffered pecuniary loss and whose claim is allowed in accordance with sub-regulation (4).

(3) A person referred to in sub-regulation (2) shall be deemed to have suffered pecuniary loss if the loss was suffered from defalcation or fraudulent misuse of securities or documents of title to securities or of other property committed after the commencement of these Regulations by the holder of the licence or by an employee or servant of the holder in relation to money or other property which, whether before or after the commencement of these Regulations, in the course of or in connection with the business of dealing in securities or advising other persons concerning securities carried on by the holder of the licence—

(a) was entrusted to o

This is an opening excerpt, not the complete document.