Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 (87 of 2024)

Schedule 1   Financial market infrastructure: resolution authority

Part 1   Crisis resolution

Corporations Act 2001

13   At the end of section 824B

Add:

Grant to receiving body

(3) If:

(a) the Minister consents under paragraph 837A(1)(b) or 837B(1)(b) to a transfer in relation to a CS facility licensee; and

(b) the Reserve Bank issues a certificate under subsection 838A(1) that the transfer is to take effect;

the Minister may grant an Australian CS facility licence to a body corporate that, as a result of the transfer, becomes, or will become, the successor in law of the CS facility licensee.

(4) A licence granted to a body corporate under subsection (3) is taken to be:

(a) unless paragraph (b) of this subsection applies - a licence granted under subsection (1); or

(b) if the licence states that it is to be taken to have been granted under subsection (2) - a licence granted under subsection (2) authorising the body corporate to operate a specified clearing and settlement facility in this jurisdiction.