Statute
Section 1423 — Corporations Act 2001: When is a clearing and settlement facility being operated immediately before the FSR commencement?
Text of the provision Official document
Subject to section 1424, in this Subdivision, a reference to a clearing and settlement facility being operated immediately before the FSR commencement is a reference to a clearing and settlement facility that had not permanently ceased to operate before the FSR commencement, even if the clearing and settlement of transactions by means of the facility was not actually occurring immediately before the FSR commencement (for example, because of a routine temporary closure of the facility).
Official source: Federal Register of Legislation
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