• Specific Year
    Any

CORPORATIONS REGULATIONS 2001 - REG 7.3.10 Information

CORPORATIONS REGULATIONS 2001 - REG 7.3.10

Information

    For paragraph   824A(1)(a) of the Act, the following information is required as part of an application by the body corporate for an Australian CS facility licence:

  (a)   the body corporate's name, address and contact details;

  (b)   the name, address and contact details of any person who will act on behalf of the body corporate in relation to the application;

  (c)   details of the body corporate's major shareholders and organisation, including:

  (i)   the name, address and contact details of each director; and

  (ii)   the name, address and contact details of each secretary; and

  (iii)   the name, address and contact details of each executive officer of the body corporate; and

  (iv)   whether any director, secretary or executive officer is, or has been, disqualified from managing a corporation under a law of this jurisdiction or another jurisdiction;

  (d)   a description of the body corporate's business or functions, other than the operation of the clearing and settlement facility;

  (e)   the services in respect of which the Australian CS facility licence is sought, including details of:

  (i)   the financial products for which clearing and settlement facilities are to be provided; and

  (ii)   the nature of each interest in a financial product that is to be transferred using the clearing and settlement facility; and

  (iii)   the mechanisms to be used by the body corporate to operate the clearing and settlement facility, including (if applicable) arrangements to limit the risk of default by a party to a transaction;

  (f)   whether the body corporate has applied, or intends to apply, to become a prescribed CS facility;

  (g)   details of the technological resources that will be used in the operation of the clearing and settlement facility, including details of:

  (i)   the purpose of the resources; and

  (ii)   how the resources are to be supplied, managed, maintained and upgraded; and

  (iii)   how the security of information technology systems is to be protected;

  (h)   details of the arrangements for dealing with conflicts between the body corporate's commercial interests and its obligations to supervise and monitor the clearing and settlement facility;

  (i)   details of the arrangements for the supervision of employees of the body corporate who have duties and responsibilities of a kind that supervision of the employees is necessary to protect the integrity of the operation of the clearing and settlement facility;

  (j)   details of the arrangements for managing counterparty risk, including the risks arising from a counterparty being unable to meet its obligations arising out of clearing, settlement or clearing and settlement transactions using the facility;

  (k)   if the ACCC has made a decision in relation to the clearing and settlement facility that the body corporate will operate--details of the decision.

Example of interests in a financial product:   Legal title or an equitable interest.

Example of mechanisms to operate the clearing and settlement facility:

1   The way in which transfers are to be effected.

2   The way in which payment obligations are to be settled.

Download

No downloadable files available