Section 823S — Corporations Act 2001: Directions to preserve stability in the Australian financial system—relationship with other provisions

If a direction under subsection 823F(1) directs a CS facility licensee to change any of the facility’s operating rules or procedures (see subparagraph 823F(1)(a)(ii)), neither of the following provisions apply in relation to the change: (a) subsection 822D(2) (about change ceasing to have effect if ASIC not notified); (b) section 822E (about disallowance). Note: The licensee would still need to notify ASIC of the change: see subsection 822D(1).