Section 822D — Corporations Act 2001: Changing the operating rules

Licensed CS facilities other than subsection 824B(2) facilities (1) As soon as practicable after a change is made to the operating rules of a licensed CS facility, other than a facility licensed under subsection 824B(2) (overseas clearing and settlement facilities), the licensee must lodge with ASIC in a prescribed form written notice of the change. The notice must: (a) set out the text of the change; and (b) specify the date on which the change was made; and (c) contain an explanation of the purpose of the change. (2) If no notice is lodged with ASIC, as required by subsection (1), within 21 days after the change is made, the change ceases to have effect at the end of that period. Subsection 824B(2) facilities (3) As soon as practicable after a change is made to the operating rules of a clearing and settlement facility the operation of which is licensed under subsection 824B(2) (overseas clearing and settlement facilities), the licensee must lodge with ASIC in a prescribed form written notice of the change. The notice must: (a) set out the text of the change; and (b) specify the date on which the change was made; and (c) contain an explanation of the purpose of the change. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).