Pursuant to section 38 of the Securities Markets Act 1988, the Securities Commission gives the following notice.
N o t i c e
1. Title and commencement-(1) This notice may be cited as the Authorised Futures Dealers Notice 2004.
(2) This notice comes into force on the day after the date of its publication in the New Zealand Gazette.
2. Interpretation-(1) In this notice, unless the context otherwise requires:
"Act" means the Securities Markets Act 1988.
"AFS Licence" means an Australian Financial Services Licence granted under the Corporations Act.
"ASIC" means the Australian Securities and Investments Commission.
"Corporations Act" means the Corporations Act 2001 of the Commonwealth of Australia.
"JPMMAPL" means J.P. Morgan Markets Australia Pty Limited.
"Public Finance Act" means the Public Finance Act 1989 of New Zealand.
"SFE" means Sydney Futures Exchange Limited.
(2) Any term or expression that is not defined in this notice, but that is defined in the Act, has the meaning given to it by the Act.
3. Authorisation-(1) JPMMAPL is authorised to carry on the business of dealing in futures contracts generally.
(2) The authorisation is subject to the conditions that JPMMAPL:
(a) Deals only on behalf of its current wholesale clients (as at the date of this notice) that are authorised to deal in derivatives in terms of the Public Finance Act (where applicable), being clients that are:
(i) registered banks; or
(ii) statutory corporations; and
(b) is a full participant of SFE; and
(c) is licensed as an Australian Financial Services Licensee under the Corporations Act and holds an AFS Licence which authorises JPMMAPL to provide futures dealing and advisory services to wholesale clients; and
(d) notifies the commission if JPMMAPL's AFS Licence is varied or revoked and notifies the commission of any regulatory action taken by ASIC in relation to JPMMAPL's AFS Licence; and
(e) provides the commission with a copy of JPMMAPL's annual financial statements no later than three months after the end of each financial year for JPMMAPL; and
(f) notifies the commission of any material matter concerning JPMMAPL's authorisation as a futures dealer.
(3) This authorisation continues in force until it is revoked by the commission.
Dated at Wellington this 27th day of April 2004.
The Common Seal of the Securities Commission was affixed in the presence of:
[L.S.]
JANE DIPLOCK, Chairperson.
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