Clause 53
Amendment of section 128
of Securities and Futures (Amendment) Bill
BillNot in forceProvision 53 of 213
Clause 53
Section 128 of the principal Act is amended —
(a)
by deleting the words “shall be deemed” in subsection (1) and substituting the words “is treated”; and
(b)
by deleting the words “enters into a specified derivatives contract as an agent of a party to the specified derivatives contract (referred to in this subsection as the principal party) shall be deemed” in subsection (2) and substituting the words “executes or causes to be executed a specified derivatives contract as an agent of a party to the specified derivatives contract (called in this subsection the principal party) is treated”.