13.—(1) Subject to section 14A, no person shall act as, or hold himself out as —
(a)
a commodity futures broker’s representative;
(b)
a commodity futures trading adviser;
(c)
a commodity futures trading adviser’s representative;
(d)
a commodity futures pool operator;
(e)
a commodity futures pool operator’s representative;
(f)
a commodity broker’s representative;
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(g)
a commodity trading adviser;
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(h)
a commodity trading adviser’s representative;
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(i)
a commodity pool operator; or
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(j)
a commodity pool operator’s representative,
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unless he is the holder of a licence granted under this Part that authorises him to act as such.
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(2) The holder of a commodity futures broker’s licence shall not be required to hold a commodity futures trading adviser’s licence.
(2A) A holder of a commodity futures broker’s licence shall not be required to hold a commodity broker’s licence for the purposes of carrying out any activity under this Act as authorised under a commodity broker’s licence.
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(2B) A holder of a commodity broker’s licence shall not be required to hold a commodity trading adviser’s licence.
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(3) A commodity futures broker’s licence and a commodity futures pool operator’s licence shall only be granted to a corporation.
(4) A commodity futures trading adviser’s licence may be granted to an individual or a corporation.
(5) A commodity futures broker’s representative’s licence, a commodity futures trading adviser’s representative’s licence and a commodity futures pool operator’s representative’s licence shall only be granted to an individual.
(6) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction —
(a)
for an offence under subsection (1) (b), (d), (g) or (i) to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both;
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(b)
for an offence under subsection (1) (a), (c), (e), (f), (h) or (j) to a fine not exceeding $50,000 or to imprisonment for a term not exceeding one year or to both.