Security Legislation Amendment (Critical Infrastructure Protection) Act 2022 (33 of 2022)

Schedule 1   Amendments

Security of Critical Infrastructure Act 2018

29   At the end of section 8

Add:

Exemption for providers of custodial or depository services

(4) Subsection (1) does not apply to an interest in an asset held by an entity if:

(a) the entity is the provider of a custodial or depository service; and

(b) the entity holds the interest in the asset solely in the entity's capacity as the provider of a custodial or depository service; and

(c) the holding of the interest does not put the entity in a position to directly or indirectly influence or control the asset.

Exemption for providers of services specified in the rules

(5) Subsection (1) does not apply to an interest in an asset held by an entity if:

(a) the entity is the provider of a service specified in the rules; and

(b) the entity holds the interest in the asset solely in the entity's capacity as the provider of the service; and

(c) the holding of the interest does not put the entity in a position to directly or indirectly influence or control the asset.