Federal Register of Legislation - Australian Government

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Act No. 33 of 1995 as made
An Act to amend the Corporations Law
Date of Assent 12 Apr 1995
Date of repeal 10 Mar 2016
Repealed by Amending Acts 1990 to 1999 Repeal Act 2016
 

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33, 1995

Making Information
- Assented to 12 April 1995

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - LONG TITLE

An Act to amend the Corporations Law

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 1
Short title etc.

1.(1) This Act may be cited as the Corporations Law (Securities and Futures) Amendment Act 1995.


(2) In this Act, "Corporations Law" means the Corporations Law set out in section 82 of the Corporations Act 1989*1*.


(Minister's second reading speech made in-
Senate on 5 December 1994
House of Representatives on 28 March 1995)
*1* No. 109, 1989, as amended. For previous amendments, see No. 110, 1990 (as amended by No. 201, 1991); Nos. 110, 200 and 201, 1991; Nos. 27 and 210, 1992; Nos. 32 and 82, 1993; and Nos. 31, 69 and 104, 1994. Corporations Act 1989

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 2
Commencement

2. This Act commences on the day on which it receives the Royal Assent.

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 3
Futures contract

3. Section 72 of the Corporations Law is amended by adding at the end of subsection (51):
"Note: Regulations under subsection 72A(2) may provide that specified provisions of this Law and the regulations apply in relation to Chapter 8 agreements to which section 72A applies as if the agreements were futures contracts.".

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 4
Insertion of new section

4. After section 72 of the Corporations Law the following section 10 is inserted:
Law applies to certain Chapter 8 agreements as if they were futures contracts
"72A.(1) This section applies to Chapter 8 agreements:
(a) that are entered into on a futures market of a futures exchange; 15 and
(b) that are of a kind prescribed for the purposes of this paragraph.
"(2) The regulations may, in relation to Chapter 8 agreements to which this section applies:
(a) provide that specified provisions of this Law and the regulations apply in relation to the agreements as if the agreements were 20 futures contracts; and
(b) provide that specified provisions of this Law and the regulations do not apply in relation to the agreements; and
(c) make modifications of this Law and the regulations as applying in relation to the 25 agreements.
"(3) Modifications made by regulations referred to in paragraph (2)(c) may be of provisions specified in regulations referred to in paragraph (2)(a) or of other provisions of this Law or the regulations.".

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 5
Securities

5. Section 92 of the Corporations Law is amended by adding at the 30 end of subsection (1):
"Note: Regulations under subsection 92A(2) may provide that specified provisions of this Law and the regulations apply in relation to relevant agreements to which section 92A applies as if the agreements were securities.".

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 6
Insertion of new 35 section

6. After section 92 of the Corporations Law the following section is inserted:
Law applies to certain relevant agreements as if they were securities
"92A.(1) This section applies to relevant agreements (whether or not they are futures contracts):
(a) that are entered into on a stock market of a securities exchange; and
(b) that are of a kind prescribed for the purposes of this 5 paragraph.
"(2) The regulations may, in relation to relevant agreements to which this section applies:
(a) provide that specified provisions of this Law and the regulations apply in relation to the agreements as if the agreements were securities; and
(b) provide that specified provisions of this Law and the regulations do not apply in relation to the agreements; and
(c) make modifications of this Law and the regulations as applying in relation to the agreements.
"(3) Modifications made by regulations referred to in paragraph (2)(1c) may be of provisions specified in regulations referred to in paragraph (2)(a) or of other provisions of this Law or the regulations.".

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 7
Gaming and wagering laws not applicable to certain contracts and relevant agreements

7. Section 778 of the Corporations Law is 20 amended:
(a) by omitting "and wagering" and substituting "or wagering";
(b) by adding at the end:
"(2) Nothing in a law of this jurisdiction about gaming or wagering prevents the entering into, or affects the validity or enforceability, of a relevant agreement of a kind prescribed for 25 the purposes of paragraph 92A(1)(b).".

CORPORATIONS LAW (SECURITIES AND FUTURES) AMENDMENT ACT 1995 No. 33 of 1995 - SECT 8
Gaming and wagering laws not applicable to certain futures contracts and Chapter 8 agreements

8. Section 1141 of the Corporations Law is amended by adding at the end:
"(2) Nothing in a law of this jurisdiction about gaming or 30 wagering prevents the entering into, or affects the validity or enforceability, of a Chapter 8 agreement of a kind prescribed for the purposes of paragraph 72A(1)(b).".