Section 826K — Corporations Act 2001: Inconsistency with other instruments

Inconsistency with other rules (1) If there is an inconsistency between the CS facility rules and any of the following rules: (a) the CS services rules; (b) the derivative transaction rules; (c) the derivative trade repository rules; the CS facility rules prevail to the extent of the inconsistency. Inconsistency with the financial stability standards (2) If the Reserve Bank considers there is an inconsistency between a CS facility rule and one or more standards determined under section 827D, the Reserve Bank must refer the matter to the Minister. Note: If there is an inconsistency between the CS facility rules and standards determined under section 827D, the standards prevail: see subsection 827D(2A). (3) The Minister may, if the Minister considers it appropriate after being referred the matter, direct ASIC to vary or revoke the CS facility rule. (4) ASIC must comply with the direction given under subsection (3) immediately. (5) A direction given under subsection (3) is not a legislative instrument.