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 noteCCH note - modifying legislative instruments: The application of Pt 7.12 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (IPH Limited Employee Share Scheme Disclosure) Instrument 2024/293; and the ASIC Corporations (L ' Or é al SA Employee Share Scheme Disclosure) Instrument 2024/296.
For legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.12, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
A market licensee, or CS facility licensee, has qualified privilege in respect of actions (including the giving of information) done in connection with:
(a) the performance, or purported performance, of the licensee's obligations under this Act; or
(b) the exercise or performance, or purported exercise or performance, of the licensee's powers, functions or obligations under the operating rules of the market or facility concerned, if the licensee believes, on reasonable grounds, that the action is necessary:
(i) in the case of a market licensee - to ensure the market operates in a fair, orderly and transparent way; or
1100B(2) [ Giving of information]
(ii) in the case of a CS facility licensee - to ensure the facility's services are provided in a fair and effective manner or to reduce systemic risk in the provision of those services.
A market licensee, or CS facility licensee, has qualified privilege in respect of the giving of information:
(a) to the operator of a financial market (regardless of where the market is operated) for the purpose of assisting the operator to ensure that [ sic ] market operates in a fair, orderly and transparent way; or
(b) to the operator of a clearing and settlement facility (regardless of where the facility is operated) for the purpose of assisting the operator to ensure that [ sic ] facility's services are provided in a fair and effective manner or to reduce systemic risk. 1100B(3) [ Qualified privilege does not apply]
Despite subsections (1) and (2), a market licensee does not have qualified privilege in respect of the giving of information if:
(a) an entity included on the market's official list gave the information to the licensee under a provision of this Act or of the market's operating rules; and
(b) this Act, or those rules, expressly or impliedly authorised the entity to limit the purposes for which it gave the information to the licensee; and
(c) when giving the information to the licensee, the entity limited those purposes as so authorised; and
(d) the giving of the information by the licensee is not solely for one or more of the limited purposes. 1100B(4) [ Scope of section]
The protections given by this section apply to the giving of information whether or not the recipient of the information has an interest in the information.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.