Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 904B — Obligations relating to derivative trade data
Obligation relating to use or disclosure of derivative trade data (1) A derivative trade repository licensee, or an officer or employee of a derivative trade repository licensee, may use or disclose…
Section 904C — Obligation to notify ASIC of certain matters
Notification of inability to meet obligations under 904A (1) A derivative trade repository licensee must give written notice to ASIC, as soon as practicable, if the licensee becomes aware that it may…
Section 904D — Obligation to assist ASIC, APRA and the Reserve Bank
(1) Each of the following is a regulator to which this section applies: (a) ASIC; (b) APRA; (c) the Reserve Bank. (2) A derivative trade repository licensee must give such assistance to a regulator…
Section 904E — Obligation to give ASIC access to derivative trade repository facilities
A derivative trade repository licensee must give ASIC such reasonable access to the repository’s facilities as ASIC requests for any of the purposes of this Part. Note: Failure to comply with this…
Section 904F — Minister’s power to give directions to licensee not complying with obligations
(1) If the Minister considers that a derivative trade repository licensee is not complying with its obligations as a derivative trade repository licensee under this Part, the Minister may give the…
Section 904G — ASIC’s directions power—licensees not complying with their obligations
(1) ASIC may, by written notice given to a derivative trade repository licensee, direct the licensee to: (a) take one or more specified actions to promote compliance by the licensee with its…
Section 904H — ASIC’s power to give directions requiring special reports
(1) ASIC may give a derivative trade repository licensee a written direction requiring the licensee to give ASIC a special report on specified matters. (2) The direction may also require the licensee…
Section 904J — ASIC may assess licensee’s compliance
(1) ASIC may do an assessment of how well a derivative trade repository licensee is complying with any or all of its obligations as a derivative trade repository licensee under this Part. In doing…
Section 904K — Directions relating to derivative trade data if repository ceases to be licensed
(1) This section applies to derivative trade data that was being retained in a derivative trade repository before the repository ceased to be a licensed derivative trade repository. (2) ASIC may give…
Section 904L — ASIC’s power to require expert report
Expert appointed by ASIC (1) ASIC may, by written notice given to a derivative trade repository licensee and a person (the expert), appoint the expert to provide ASIC with an expert report on…
Section 905A — Regulations may identify derivative trade repositories as being required to be licensed
(1) The regulations may identify one or more classes of derivative trade repositories as being required to be licensed under this Part. Note: Subject to this Part, derivative trade repositories may…
Section 905B — How to apply for a licence
A body corporate may, by lodging an application with ASIC in the prescribed form, apply for a licence (an Australian derivative trade repository licence) authorising the body corporate to operate a…
Section 905C — 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…
Section 905D — Publication of notice of licence grant
If ASIC grants an Australian derivative trade repository licence, ASIC must publish a notice in the Gazette stating: (a) the name of the licensee; and (b) when the licence was granted; and (c) the…
Section 905E — More than one derivative trade repository covered by the same licence
(1) The same Australian derivative trade repository licence may authorise the licensee to operate 2 or more derivative trade repositories. (2) In that case, a reference to the derivative trade…
Section 905F — The conditions on the licence
(1) ASIC may, at any time: (a) impose conditions, or additional conditions, on an Australian derivative trade repository licence; or (b) vary or revoke conditions imposed on such a licence; by giving…
Section 905G — Varying licences
ASIC may vary an Australian derivative trade repository licence to take account of a change in the licensee’s name if the licensee lodges an application with ASIC in the prescribed form, seeking the…
Section 905H — Immediate suspension or cancellation
ASIC may, by giving written notice to a derivative trade repository licensee, suspend the licence for a specified period, or cancel it, if: (a) the licensee ceases to carry on the business of…
Section 905J — Suspension or cancellation following hearing and report
(1) If ASIC considers that a derivative trade repository licensee has breached, or is in breach of, one or more of its obligations as a derivative trade repository licensee under this Part, ASIC may…
Section 905K — Effect of suspension
(1) A person whose Australian derivative trade repository licence is suspended is taken not to hold that licence while it is suspended. (2) However, ASIC may specify in the written notice to the…
Section 905L — Variation or revocation of suspension
ASIC may at any time vary or revoke a suspension of an Australian derivative trade repository licence by giving written notice to the licensee.
Section 905M — Publication of notice of licence suspension or cancellation
(1) If ASIC: (a) suspends, or varies or revokes a suspension of, an Australian derivative trade repository licence; or (b) cancels an Australian derivative trade repository licence; ASIC must publish…
Section 905N — Suspension and cancellation only in accordance with this Subdivision
An Australian derivative trade repository licence cannot be varied, suspended or cancelled otherwise than in accordance with this Subdivision. Note: The conditions on the licence can be varied under…
Section 905P — Matters to be taken into account by ASIC
(1) ASIC must have regard to certain matters in deciding whether to: (a) grant an applicant an Australian derivative trade repository licence under section 905C; or (b) impose, vary or revoke…
Section 906A — Regulations may impose obligations and confer powers
(1) The regulations may: (a) impose obligations on operators of prescribed derivative trade repositories, and on their officers and employees; and (b) confer powers on ASIC in relation to prescribed…
Section 907A — Other prohibitions on holding out
A person must not hold out: (a) that the person has an Australian derivative trade repository licence; or (b) that the operation of a derivative trade repository by the person is authorised by an…
Section 907B — Making provision by reference to instruments as in force from time to time
(1) This section applies to the following instruments: (a) determinations made by the Minister under section 901B; (b) regulations made for the purpose of a provision of this Part; (c) derivative…
Section 907C — Compliance with requirements to provide derivative trade data or other information: protection from liability
If: (a) a person (the protected person): (i) provides derivative trade data, or other information, to another person; or (ii) otherwise allows another person access to derivative trade data, or other…
Section 907D — Exemptions by ASIC
(1) The provisions covered by this section are: (a) the following provisions: (i) the provisions of this Part; (ii) the provisions of regulations made for the purposes of the provisions of this Part;…
Section 907E — Exemptions and modifications by regulations
(1) The provisions covered by this section are: (a) the following provisions: (i) the provisions of this Part; (ii) the provisions of regulations made for the purposes of the provisions of this Part;…
Section 908AA — Simplified outline of this Part
Administrators of significant financial benchmarks must be licensed under this Part. Administrators of other financial benchmarks may voluntarily opt in to the same licensing scheme. Licensees are…
Section 908BA — Administrators of significant financial benchmarks must be licensed
(1) A person commits an offence if: (a) the person: (i) administers a significant financial benchmark; or (ii) holds out that the person administers a significant financial benchmark; and (b) the…
Section 908BWA — ASIC’s power to require expert report
Expert appointed by ASIC (1) ASIC may, by written notice given to a benchmark administrator licensee and a person (the expert), appoint the expert to provide ASIC with an expert report on specified…
Section 908CA — ASIC may make financial benchmark rules
Subject to this Division, ASIC may, by legislative instrument, make rules (the financial benchmark rules) dealing with one or more of the matters permitted by this Subdivision. Note: Subdivision D…
Section 908DA — Manipulation of financial benchmarks
Civil penalty provisions (1) A person contravenes this subsection if: (a) the person does, or omits to do, one or more acts; and (b) the acts or omissions have or are likely to have the effect of…
Section 908EA — Making provision by referring to instruments as in force from time to time
(1) This section applies to the following instruments: (a) regulations made for the purposes of a provision of this Part; (b) rules made under Division 3. (2) An instrument to which this section…
Section 908AB — Meaning of financial benchmark
(1) A financial benchmark is a price, estimate, rate, index or value that: (a) is made available to users (whether or not for a fee); and (b) is calculated periodically from one or more: (i)…
Section 908BB — Other prohibitions on holding out
A person commits an offence if: (a) in Australia, the person holds out that: (i) the person holds a benchmark administrator licence; or (ii) the administration of a financial benchmark by the person…
Section 908CB — Main permitted matters that may be dealt with in the rules
The main permitted matters are the following: (a) the responsibilities of benchmark administrator licensees, including for their oversight of internal and external parties who have a role in the…
Section 908DB — False or misleading statements or information that could affect financial benchmarks
Civil penalty provisions (1) A person contravenes this subsection if: (a) the person makes one or more statements, or disseminates information; and (b) the statements or information: (i) are false or…
Section 908EB — Exemptions by the regulations or by ASIC
(1) The provisions covered by this section are: (a) the following provisions: (i) the provisions of this Part; (ii) the provisions of regulations made for the purposes of provisions of this Part;…
Section 908AC — Meaning of significant financial benchmark
(1) A significant financial benchmark is a financial benchmark that is declared under subsection (2). (2) ASIC may, by legislative instrument, declare a financial benchmark to be a significant…
Section 908BC — When a licence may be granted
Granting licences—general (1) ASIC may grant an applicant a licence (a benchmark administrator licence) to administer a specified financial benchmark if ASIC is satisfied that: (a) the application…
Section 908CC — Other permitted matters that may be dealt with in the rules
The other permitted matters are matters incidental or related to the matters permitted under section 908CB, including the following: (a) subject to section 908CP, the persons who are obliged to…
Section 908DC — Penalties for offences against this Division
The penalty for an offence against this Division is 15 years imprisonment. Note: However, sections 1311A to 1311E will apply in relation to the penalty in the usual way.
Section 908AD — Emergency declarations: consultation and consent not required
(1) Despite subsection 908AC(3), ASIC may make a declaration under subsection 908AC(2) without the consent of the Minister if ASIC is of the opinion that it is necessary, or in the public interest,…
Section 908BD — Applying for a licence
(1) A body corporate may, by lodging an application with ASIC in a prescribed form, apply for a benchmark administrator licence for a particular financial benchmark. Note: For fees for lodging…
Section 908CD — ASIC may make compelled financial benchmark rules
Subject to this Division, ASIC may, by legislative instrument, make rules (the compelled financial benchmark rules) conferring one or more of the powers, or dealing with one or more of the matters,…
Section 908DD — Geographical scope of offences and civil penalty provisions
Offences (1) Section 15.2 of the Criminal Code (extended geographical jurisdiction—category B) applies to each offence against this Division. Contraventions of civil penalty provisions (2) A…
Section 908AE — Notifying administrator about declarations
ASIC must, as soon as practicable, give the administrator of a financial benchmark written notice of: (a) any declaration of the financial benchmark under subsection 908AC(2); or (b) any variation,…