Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
(a) ASIC; or
(b) a specified person or body that is suitably qualified. 823B(3) [ Deadline]
PART 7.3
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LICENSING OF CLEARING AND SETTLEMENT FACILITIES
Division 2
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Regulation of CS facility licensees
Subdivision C
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Powers of the Minister, ASIC and the Reserve Bank in relation to licensees
SECTION 823B
MINISTER'S POWER TO REQUIRE SPECIAL REPORT
823B(1)
[
Power to require special report]
The Minister may give a CS facility licensee a written notice requiring the licensee to give ASIC a special report on specified matters. ASIC must give the report to the Minister.
823B(2) [ Audit report on special report]The notice may also require the licensee to give ASIC an audit report on the special report. The Minister must nominate to prepare the report:
(a) ASIC; or
(b) a specified person or body that is suitably qualified. 823B(3) [ Deadline]
The licensee must give the special report, and audit report (if any), to ASIC within the time required by the notice.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
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