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 7.2 - LICENSING OF FINANCIAL MARKETS  

Division 2 - Requirement to be licensed  

SECTION 791A   NEED FOR A LICENCE  

791A(1)  
A person must only operate, or hold out that the person operates, a financial market in this jurisdiction if:

(a) the person has an Australian market licence that authorises the person to operate the market in this jurisdiction; or

(b) the market is exempt from the operation of this Part.

Note 1: A market licensee may also provide financial services incidental to the operation of the market: see paragraph 911A(2) (d).

Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

791A(2)  
For the purposes of an offence based on subsection (1), strict liability applies to paragraph (1)(b).

Note: For strict liability , see section 6.1 of the Criminal Code .

791A(3)  

A person contravenes this subsection if the person contravenes subsection (1).

Note: This subsection is a civil penalty provision (see section 1317E ).