Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 (87 of 2024)

Schedule 2   Financial market infrastructure: new and enhanced regulatory powers

Part 11   Fit, proper, capable and competent person standards

Division 1   Additional obligation for certain licensees

Corporations Act 2001

125   After paragraph 821A(1)(g)

Insert:

(ga) take:

(i) all reasonable steps; and

(ii) if the licence was granted under subsection 824B(1) (domestic clearing and settlement facilities) - all additional steps (if any) prescribed by the regulations for the purposes of this subparagraph;

to ensure that each core officer of the licensee is:

(iii) a fit and proper person to perform the functions of a core officer of the licensee; and

(iv) without limiting subparagraph (iii) - capable of performing those functions, including being competent to perform those functions; and