CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.2 - LICENSING OF FINANCIAL MARKETS  

Division 3 - Regulation of market licensees  

Subdivision C - Powers of the Minister and ASIC  

SECTION 794E   ADDITIONAL DIRECTIONS TO CLEARING AND SETTLEMENT FACILITIES  

794E(1)   [ Power to give directions to CS facility operator]  

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.


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