Corporations Act 2001
If ASIC gives a direction under section 794D , it may also give a written direction to the operator of each clearing and settlement facility with which the market licensee has clearing and settlement arrangements for transactions effected through the market:
(a) prohibiting the operator from acting in a manner inconsistent with the section 794D direction; and
(b) requiring the operator to do all that the operator is reasonably capable of doing to give effect to the section 794D direction. 794E(2) [ Compliance with direction]
The operator must comply with the direction given to it under this section.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).794E(3) [ Enforcement of direction]
If the operator fails to comply with the direction, ASIC may apply to the Court for, and the Court may make, an order that the operator comply with the direction.