This Act may be cited as the Sharebrokers Amendment Act 1996, and shall be read together with and deemed part of the Sharebrokers Act 1908 (hereinafter referred to as the principal Act).

Section 2 of the principal Act is hereby amended by repealing the definition of the term “sharebroker” (as substituted by section 2 of the Sharebrokers Amendment Act 1994), and substituting the following definition:

Section 2 of the Sharebrokers Amendment Act 1994 is hereby consequentially repealed.

Section 38 of the Securities Amendment Act 1988 is hereby amended by repealing subsection (1), and substituting the following subsection:

Section 38(2) of the Securities Amendment Act 1988 is hereby amended by omitting the words “paragraph (b) of”.