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

SECTION 822D  CHANGING THE OPERATING RULES  

 View history reference

822D(1)  Licensed CS facilities other than subsection 824B(2) facilities.  


As soon as practicable after a change is made to the operating rules of a licensed CS facility, other than a facility licensed under subsection 824B(2) (overseas clearing and settlement facilities), the licensee must lodge with ASIC written notice of the change. The notice must:


(a) set out the text of the change; and


(b) specify the date on which the change was made; and


(c) contain an explanation of the purpose of the change.

822D(2)  [Failure to lodge notice]  


If no notice is lodged with ASIC, as required by subsection (1), within 21 days after the change is made, the change ceases to have effect at the end of that period.

822D(3)  Subsection 824B(2) facilities.  


As soon as practicable after a change is made to the operating rules of a clearing and settlement facility the operation of which is licensed under subsection 824B(2) (overseas clearing and settlement facilities), the licensee must lodge with ASIC written notice of the change. The notice must:


(a) set out the text of the change; and


(b) specify the date on which the change was made; and


(c) contain an explanation of the purpose of the change.

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


 



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