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.


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