Corporations and Financial Sector Legislation Amendment Act 2013 (59 of 2013)

Schedule 1  

Part 2   Review of licences

Corporations Act 2001

15   Subsection 823CA(1)

Repeal the subsection, substitute:

(1) The Reserve Bank of Australia (the Reserve Bank ) may do an assessment of how well a CS facility licensee is complying with its obligation under paragraph 821A(aa). In doing the assessment, the Reserve Bank may take account of any information and reports that it thinks appropriate, including information and reports from an overseas regulatory authority.

(1A) If the CS facility licensee is prescribed by the regulations for the purpose of this subsection, the Reserve Bank must do such an assessment at least once a year.