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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.2 - LICENSING OF FINANCIAL MARKETS    View history reference

Division 3 - Regulation of market licensees    View history reference

Subdivision B - The market's operating rules and procedures    View history reference

SECTION 793E  DISALLOWANCE OF CHANGES TO OPERATING RULES  

 View history reference

793E(1)  [Limitation]  


This section does not apply in respect of an Australian market licence granted under subsection 795B(2) (overseas markets).

793E(2)  [Copy to Minister]  


As soon as practicable after receiving a notice under section 793D from a market licensee, ASIC must send a copy of the notice to the Minister.

793E(3)  [Power to disallow]  


Within 28 days after ASIC receives the notice from the licensee, the Minister may disallow all or a specified part of the change to the operating rules.

793E(4)  [Relevant criteria]  


In deciding whether to do so, the Minister must have regard to the consistency of the change with the licensee's obligations under this Part (including in particular the obligation mentioned in paragraph 792A(a)).

Note: The Minister must also have regard to the matters in section 798A.

793E(5)  [Notice of disallowance]  


As soon as practicable after all or a part of a change is disallowed, ASIC must give notice of the disallowance to the licensee. The change ceases to have effect, to the extent of the disallowance, when the licensee receives the notice.


 



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