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CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.2 - TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SERVICES REFORM ACT 2001    View history reference

Division 1 - Transitional provisions relating to the phasing-in of the new financial services regime    View history reference

Subdivision C - Treatment of existing clearing and settlement facilities    View history reference

SECTION 1423  

1423  WHEN IS A CLEARING AND SETTLEMENT FACILITY BEING OPERATED IMMEDIATELY BEFORE THE FSR COMMENCEMENT?  

 View history reference
Subject to section 1424, in this Subdivision, a reference to a clearing and settlement facility being operated immediately before the FSR commencement is a reference to a clearing and settlement facility that had not permanently ceased to operate before the FSR commencement, even if the clearing and settlement of transactions by means of the facility was not actually occurring immediately before the FSR commencement (for example, because of a routine temporary closure of the facility).


 



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