Section 905C — Corporations Act 2001: When a licence may be granted

General (1) ASIC may grant an applicant an Australian derivative trade repository licence if ASIC is satisfied that: (a) the application was made in accordance with section 905B; and (b) the applicant will comply with the obligations that will apply if the licence is granted; and (c) no disqualified individual appears to be involved in the applicant (see Division 2 of Part 7.4). This subsection has effect subject to subsections (2) and (3). Note: ASIC must also have regard to the matters in section 905P in deciding whether to grant a licence. Foreign bodies (2) If the applicant is a foreign body corporate, ASIC must not grant the applicant a licence unless the applicant is registered under Division 2 of Part 5B.2. Disqualified individuals (3) ASIC must not grant the applicant a licence unless 42 days have passed since the application was made and ASIC has not given a notice under subsection 853D(2) to the applicant within that 42 days.