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 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 2 - When there must be a compensation regime  

SECTION 881D   WHAT HAPPENS IF AN APPLICATION CONTAINS A STATEMENT IN ACCORDANCE WITH PARAGRAPH 881B(2)(d)  

881D(1)    

If a licence application contains a statement in accordance with paragraph 881B(2)(d) , ASIC must consider whether ASIC is satisfied that the market will be covered by Division 4 .

881D(2)    

If ASIC is not so satisfied, the application for the licence must be rejected.

881D(3)    

If ASIC is so satisfied, ASIC may (subject to the other provisions about granting licences) grant the licence.

Note: The other provisions about granting licences are in Subdivision A of Division 4 of Part 7.2 .