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

Schedule 3   Financial market infrastructure: transfer of powers

Part 1   Main amendments

Division 2   Licensing of CS facilities

Corporations Act 2001

79   Subsection 823A(1)

Repeal the subsection, substitute:

(1) If ASIC considers that a CS facility licensee is not complying or is not likely to comply with its obligations as a CS facility licensee under this Chapter (other than its obligations under paragraph 821A(1)(aa), section 821BA or subsection 821C(3)), ASIC may give the licensee a written direction:

(a) to do specified things that ASIC believes will promote compliance by the licensee with those obligations; or

(b) to refrain from doing specified things, if ASIC believes that refraining from doing those things will promote compliance by the licensee with those obligations.