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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.5A - REGULATION OF DERIVATIVE TRANSACTIONS AND DERIVATIVE TRADE REPOSITORIES    View history reference

Division 2 - Regulation of derivative transactions: derivative transaction rules    View history reference

Subdivision C - The process of making of derivative transaction rules  

SECTION 901J  ASIC TO CONSULT BEFORE MAKING RULES  

 View history reference

901J(1)  

ASIC must not make a derivative transaction rule unless ASIC:


(a) has consulted the public about the proposed rule; and


(b) has also consulted the following about the proposed rule:


(i) APRA;

(ii) the Reserve Bank of Australia;

(iii) any other person or body as required by regulations made for the purpose of this subparagraph.

Note: In some situations, consultation is not required: see section 901L.

901J(2)  

Without limiting the ways in which ASIC may comply with the obligation in paragraph (1)(a) to consult the public about a proposed rule, ASIC is taken to comply with that obligation if ASIC, on its website:


(a) makes the proposed rule, or a description of the content of the proposed rule, available; and


(b) invites the public to comment on the proposed rule.

901J(3)  

A failure to consult as required by subsection (1) does not invalidate a derivative transaction rule.


 



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