Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3 - LICENSING OF CLEARING AND SETTLEMENT FACILITIES  

Division 2 - Regulation of CS facility licensees  

Subdivision C - Powers of the Minister, ASIC and the Reserve Bank in relation to licensees  

SECTION 823B   MINISTER'S POWER TO REQUIRE SPECIAL REPORT  

823B(1)    
The Minister may give a CS facility licensee a written notice requiring the licensee to give ASIC a special report on specified matters. ASIC must give the report to the Minister.

823B(2)    
The notice may also require the licensee to give ASIC an audit report on the special report. The Minister must nominate to prepare the report:

(a)    ASIC; or

(b)    a specified person or body that is suitably qualified.

823B(3)    
The licensee must give the special report, and audit report (if any), to ASIC within the time required by the notice.

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