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

Schedule 2   Financial market infrastructure: new and enhanced regulatory powers

Part 2   Dealing with licences that are not being used etc.

Corporations Act 2001

13   Paragraph 797B(a)

Repeal the paragraph, substitute:

(a) the licensee ceases to carry on the business of operating the financial market to which the licence relates; or

(aa) both of the following subparagraphs apply:

(i) it has been at least 12 months since ASIC granted the licence;

(ii) during the last 12 months, there has been no acceptance of any offers made through the market to acquire or dispose of financial products; or

(ab) all of the following subparagraphs apply:

(i) it has been at least 12 months since ASIC granted the licence;

(ii) the licence is subject to a condition specifying that the licensee is authorised to engage in specified conduct or activity that constitutes operating the market;

(iii) during the last 12 months, the licensee has not engaged in any such specified conduct or activity; or