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

Schedule 3   Financial market infrastructure: transfer of powers

Part 1   Main amendments

Division 2   Licensing of CS facilities

Corporations Act 2001

144   At the end of section 882D

Add:

(5) If, at any time after the licensee receives a direction, the licensee requests in writing that ASIC refer the matter to the Minister, ASIC must do so immediately. In that event, the Minister may, if the Minister considers it appropriate, require ASIC to vary, or to revoke, the direction. ASIC must immediately comply with such a requirement.