38
CAP. 250]
Commodities Trading
[1989 Ed.
60A. Hawking of futures contracts
(1) Subject to subsections (2) and (3), a person shall not, whether on his own behalf or otherwise and whether by appointment or otherwise, call from place to place
(a) making or offering to make with any person—
(i) an agreement for or with a view to having that other person purchase or sell a futures contract; or
(ii) an agreement the purpose or pretended purpose of which is to secure a profit to that other person from a futures contract; or
(b) inducing or attempting to induce any other person to enter into any agreement referred to in paragraph (a),
whether or not in calling from place to place he does any other act or thing.
(2) Subsection (1) does not apply to-
(a) a person in so far as-
(i) he calls at the place of another person who is a banker, solicitor, professional accountant, dealer, commodity trading adviser, dealer's representative or commodity trading adviser's representative; and
(ii) whether as principal or agent, he makes, or offers to make, with that other person an agreement referred to in subsection (1) or induces, or attempts to induce, that other person to enter into such an agreement; or
(b) any other person calling from place to place who belongs to a class of persons prescribed in regulations for the purpose of this subsection.
(3) Nothing in this section applies to any futures contract exempted by the Commission for the purposes of this section if any conditions subject to which the exemption is granted have been fulfilled.
(4) Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 6 months.
(5) If in any proceedings under subsection (4) for a contravention of this section it is proved that the accused did any of the acts mentioned in subsection (1) on 2 or more occasions within any period of 14 days, he shall, until the contrary is proved, be presumed to have been calling from place to place.
(6) In this section--
"call" includes a visit in person and a communication by telephone;
"futures contract" includes a futures contract (or a contract represented as being a futures contract) in respect of an item, whether or not capable of being delivered, which is prescribed by the Commission for the purposes of this definition. (Replaced 61 of 1985 s. 15)
(Added 54 of 1980 s. 4)