Corporations Act 2001
CHAPTER 7
-
FINANCIAL SERVICES AND MARKETS
PART 7.4
-
LIMITS ON INVOLVEMENT WITH LICENSEES
Division 2
-
Individuals who are not fit and proper are disqualified
SECTION 853B
853B
WHEN AN INDIVIDUAL IS
INVOLVED IN
AN OPERATOR
For the purposes of this Division, 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.
[ CCH Note: Ch 7 will be amended by No 8 of 2022, s 3, Sch 2[165], by inserting the note, (effective 1 July 2022). The note will read:
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .]
View history note
Hide history noteFor the purposes of this Division, 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.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.