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 7.5A - REGULATION OF DERIVATIVE TRANSACTIONS AND DERIVATIVE TRADE REPOSITORIES  

Division 6 - Regulation of licensed derivative trade repositories: licensing  

Subdivision B - Granting of licences  

SECTION 905C   WHEN A LICENCE MAY BE GRANTED  


General

905C(1)    
ASIC may grant an applicant an Australian derivative trade repository licence if ASIC is satisfied that:


(a) the application was made in accordance with section 905B ; and


(b) the applicant will comply with the obligations that will apply if the licence is granted; and


(c) no disqualified individual appears to be involved in the applicant (see Division 2 of Part 7.4 ).

This subsection has effect subject to subsections (2) and (3).

Note: ASIC must also have regard to the matters in section 905P in deciding whether to grant a licence.



Foreign bodies

905C(2)    
If the applicant is a foreign body corporate, ASIC must not grant the applicant a licence unless the applicant is registered under Division 2 of Part 5B.2 .

Disqualified individuals

905C(3)    
ASIC must not grant the applicant a licence unless 42 days have passed since the application was made and ASIC has not given a notice under subsection 853D(2) to the applicant within that 42 days.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.