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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.3 - LICENSING OF CLEARING AND SETTLEMENT FACILITIES    View history reference

Division 2 - Regulation of CS facility licensees    View history reference

Subdivision A - Licensee's obligations    View history reference

SECTION 821BA  OBLIGATION TO NOTIFY RESERVE BANK OF CERTAIN MATTERS  

 View history reference

821BA(1)  [Breach and failure to comply]  


A CS facility licensee must give written notice to the Reserve Bank of Australia (the Reserve Bank), as soon as practicable, if:


(a) the licensee becomes aware that it has failed to comply with standards determined under section 827D, or is likely to fail to comply with such standards; or


(b) the licensee becomes aware that it may no longer be able to meet, or has breached, its obligation under subparagraph 821A(aa)(ii).

Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).

821BA(2)  [Advice to Minister]  


If the Reserve Bank considers it appropriate to do so, the Reserve Bank may give the Minister advice about the matter.


 



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