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CORPORATIONS ACT 2001 - SECT 902A ASIC to supervise licensed derivative trade repositories

CORPORATIONS ACT 2001 - SECT 902A

ASIC to supervise licensed derivative trade repositories

  (1)   ASIC has the function of supervising licensed derivative trade repositories.

  (2)   If a licensed derivative trade repository is wholly or partly operated in a foreign country, ASIC may, to such extent as ASIC considers appropriate, perform the function of supervising the repository by satisfying itself:

  (a)   that the regulatory regime that applies in relation to the repository in that country provides for adequate supervision of the repository; or

  (b)   that adequate cooperative arrangements are in place with an appropriate authority of that country to ensure that the repository will be adequately supervised by that authority.

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