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 7.2 - LICENSING OF FINANCIAL MARKETS  

Division 2 - Requirement to be licensed  

SECTION 791A   NEED FOR A LICENCE  

791A(1)    
A person must only operate, or hold out that the person operates, a financial market in this jurisdiction if:

(a)    the person has an Australian market licence that authorises the person to operate the market in this jurisdiction; or

(b)    the market is exempt from the operation of this Part; or

(c)    

the person is exempt from the operation of this Part.

Note 1: A market licensee may also provide financial services incidental to the operation of the market: see paragraph 911A(2)(d) .

Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

791A(2)    
For the purposes of an offence based on subsection (1) , strict liability applies to paragraph (1)(b) .

Note: For strict liability , see section 6.1 of the Criminal Code .

791A(3)    

A person contravenes this subsection if the person contravenes subsection (1) .

Note: This subsection is a civil penalty provision (see section 1317E ).