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 2 Dealing with licences that are not being used etc.
Corporations Act 2001
13 Paragraph 797B(a)
Repeal the paragraph, substitute:
(a) the licensee ceases to carry on the business of operating the financial market to which the licence relates; or
(aa) both of the following subparagraphs apply:
(i) it has been at least 12 months since ASIC granted the licence;
(ii) during the last 12 months, there has been no acceptance of any offers made through the market to acquire or dispose of financial products; or
(ab) all of the following subparagraphs apply:
(i) it has been at least 12 months since ASIC granted the licence;
(ii) the licence is subject to a condition specifying that the licensee is authorised to engage in specified conduct or activity that constitutes operating the market;
(iii) during the last 12 months, the licensee has not engaged in any such specified conduct or activity; or