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

21   After paragraph 908BI(1)(a)

Insert:

(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, the licensee has not administered the financial benchmark specified in the licence; 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 administering that financial benchmark;

(iii) during the last 12 months, the licensee has not engaged in any such specified conduct or activity; or