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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 4 - Regulation of licensed derivative trade repositories: derivative trade repository rules    View history reference

Subdivision C - The process of making derivative trade repository rules    View history reference

SECTION 903J  EMERGENCY RULES: CONSULTATION AND CONSENT NOT REQUIRED  

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903J(1)  

ASIC may make a derivative trade repository rule without consulting as required by section 903G , and without the consent of the Minister as required by section 903H , if ASIC is of the opinion that it is necessary, or in the public interest, to do so in order to protect:


(a) the Australian economy; or


(b) the efficiency, integrity and stability of the Australian financial system; or


(c) the security or confidentiality of derivative trade data.

903J(2)  

However, if ASIC does so, ASIC must:


(a) provide the Minister, on the following day, with a written explanation of the need for the rule; and


(b) amend or revoke the rule in accordance with any written directions of the Minister.

903J(3)  

A direction under paragraph (2)(b) is not a legislative instrument.


 



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