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 7.4 - LIMITS ON INVOLVEMENT WITH LICENSEES  

Division 2 - Individuals who are not fit and proper are disqualified  

SECTION 853B  

853B   MEANING OF INVOLVED - IN SOME LICENSEES OR APPLICANTS FOR A LICENCE  

An individual is involved in a market licensee, a CS facility licensee, a derivative trade repository licensee or a benchmark administrator licensee, or an applicant for such a licence, if:

(a)    

the individual is a director, secretary or senior manager of the licensee or applicant, or in a holding company of the licensee or applicant; or

(b)    the individual has more than 15% of the total voting power in the licensee or applicant, or in a holding company of the licensee or applicant.