Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 3 - Approved compensation arrangements  

Subdivision A - Approval of compensation arrangements  

SECTION 882D   MINISTER'S POWER TO GIVE DIRECTIONS  

882D(1)   [ Ministerial direction]  

If the Minister considers that a market licensee's approved compensation arrangements are no longer adequate, the Minister may give the licensee a written direction to do specified things that the Minister believes will ensure that the arrangements become adequate once more.

882D(2)   [ Compliance]  

The licensee must comply with the direction.

882D(3)   [ Failure to comply]  

If the licensee fails to comply with the direction, ASIC may apply to the Court for, and the Court may make, an order that the licensee comply with the direction.

882D(4)   [ Variation or revocation of direction]  

The Minister may vary or revoke a direction at any time by giving written notice to the licensee.