New clauses 5A and 5B
To insert the following clauses after clause 5 (after line 6 on page 4):
5A Purpose of Act(1) Section 3 is amended by inserting “the provisions governing financial advisers under” after “The purpose of”.(2) Section 3 is amended by adding the following subsection as subsection (2):“(2) The purpose of the provisions governing brokers under this Act is to—“(a) require disclosure by brokers, so ensuring that clients can make informed decisions about whether to use a broker to handle the clients' transactions; and“(b) assist in the protection of money and property held by brokers on behalf of clients.5B Overview of ActSection 4 is amended by inserting the following paragraph after paragraph (c):“(ca) Part 3A (brokers' disclosure and conduct obligations):”.
(1) Section 3 is amended by inserting “the provisions governing financial advisers under” after “The purpose of”.
“the provisions governing financial advisers under”
“The purpose of”
(2) Section 3 is amended by adding the following subsection as subsection (2):
“(2) The purpose of the provisions governing brokers under this Act is to—“(a) require disclosure by brokers, so ensuring that clients can make informed decisions about whether to use a broker to handle the clients' transactions; and“(b) assist in the protection of money and property held by brokers on behalf of clients.
“(2) The purpose of the provisions governing brokers under this Act is to—
“(a) require disclosure by brokers, so ensuring that clients can make informed decisions about whether to use a broker to handle the clients' transactions; and
“(b) assist in the protection of money and property held by brokers on behalf of clients.
Section 4 is amended by inserting the following paragraph after paragraph (c):
“(ca) Part 3A (brokers' disclosure and conduct obligations):”.