futures fund management business "futures fund management business", in relation to a person, means a business of- (a) trading, under a discretionary authority or otherwise granted under an agreement with any other person or persons, in futures contracts for the benefit of such other person who is a party or persons who are parties to the agreement, on the basis that any money, property or interest acquired by such party or parties to such agreement may not be used or employed in common with any money, property or interest of any other person under like circumstances; (b) offering to any person for subscription, or inviting any person to subscribe for interests to which Division 5 of Part IV of the Companies Act 1965 [Act 125] applies where any of the money raised is intended to be applied in relation to trading in futures contracts; or (c) offering to any person for subscription, or inviting any person to subscribe for interests entitling such person to participate as a beneficiary under a trust in profits or income which comprise or include profits or income arising from trading in futures contracts, but does not include an act that a person does (aa) while employed by, or acting for, or by arrangement with, another person; (bb) as employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the other person; and (cc) in connection with a futures fund management business carried on by the other person; [Subs. Act A1040] ACT 499 - FUTURES INDUSTRY ACT 1993 2. Interpretation.
futures fund management business "futures fund management business", in relation to a person, means a business of- (a) trading, under a discretionary authority or otherwise granted under an agreement with any other person or persons, in futures contracts for the benefit of such other person who is a party or persons who are parties to the agreement, on the basis that any money, property or interest acquired by such party or parties to such agreement may not be used or employed in common with any money, property or interest of any other person under like circumstances; (b) offering to any person for subscription, or inviting any person to subscribe for interests to which Division 5 of Part IV of the Companies Act 1965 [Act 125] applies where any of the money raised is intended to be applied in relation to trading in futures contracts; or (c) offering to any person for subscription, or inviting any person to subscribe for interests entitling such person to participate as a beneficiary under a trust in profits or income which comprise or include profits or income arising from trading in futures contracts, but does not include an act that a person does (aa) while employed by, or acting for, or by arrangement with, another person; (bb) as employee or agent of, or otherwise on behalf of, on account of, or for the benefit of, the other person; and (cc) in connection with a futures fund management business carried on by the other person; [Subs. Act A1040] ACT 499 - FUTURES INDUSTRY ACT 1993 [Repealed By Capital Market & Services Act 2007] [Act 671] 2. Interpretation.