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 7.3 - LICENSING OF CLEARING AND SETTLEMENT FACILITIES  

Division 2 - Regulation of CS facility licensees  

Subdivision D - Reserve Bank ' s directions powers  

SECTION 823K   MATTERS RELATING TO ALL RESERVE BANK DIRECTIONS - VARIATION OR REVOCATION  

823K(1)    
The Reserve Bank:

(a)    may, by written notice given to a body corporate:

(i) vary a direction given under this Subdivision to the body corporate if, at the time of variation, the Reserve Bank reasonably believes the variation is necessary or appropriate; or

(ii) revoke such a direction if, at the time of revocation, the Reserve Bank reasonably believes the direction is no longer necessary or appropriate; and

(b)    for a direction given under subsection 823E(1) - must immediately do so if required under subsection 823E(6) .

823K(2)    
A direction given under this Subdivision has effect until the Reserve Bank revokes it under subsection (1) .