Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteA derivative trade repository licensee must: (a) comply with the conditions on the licence; and (b) if the licensee is a foreign body corporate - be registered under Division 2 of Part 5B.2 ; and (c) take all reasonable steps to ensure that no disqualified individual becomes, or remains, involved in the operator (see Division 2 of Part 7.4 ).
Note: Derivative trade repository licensees must also comply with other provisions of this Part that apply to them.
[ CCH Note: S 904A(1) will be amended by No 87 of 2024, s 3, Sch 2 [ 129] and [ 130], by inserting para (ba) and (d) (effective 17 March 2025). Para (ba) and (d) will read:
(ba) take:
(i) all reasonable steps; and
(ii) if the licensee is not a foreign body corporate - all additional steps (if any) prescribed by the regulations for the purposes of this subparagraph;to ensure that each core officer of the licensee is:
(iii) a fit and proper person to perform the functions of a core officer of the licensee; and
(iv) without limiting subparagraph (iii) - capable of performing those functions, including being competent to perform those functions; and]
; and (d) take all reasonable steps to ensure that no individual against whom an FMI banning order is made does any of the things mentioned in subsection 853N(1) in relation to the licensee in contravention of the order.
904A(2)
A person contravenes this subsection if the person contravenes paragraph (1)(b) or (c) .
Note: This subsection is a civil penalty provision (see section 1317E ).
[ CCH Note: S 904A(2) will be amended by No 87 of 2024, s 3, Sch 2 [ 131], by substituting " a paragraph of subsection (1) other than paragraph (a) " for " paragraph (1)(b) or (c) " , (effective 17 March 2025).]
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.