Commonwealth Numbered Acts

SECURITIES INDUSTRY ACT 1980 No. 66, 1980 - SECT 39

39. (1) Where-

   (a)  an amendment is made, by way of rescission, alteration or addition, to
        the business rules of a stock exchange; or

   (b)  an amendment, by way of rescission, alteration or addition, to the
        listing rules of a stock exchange is made or adopted by the
        stock exchange, the stock exchange shall, forthwith after the making
        or adoption of the amendment, give written notice of the amendment to
        the Commission.

(2) A notice under sub-section (1) shall-

   (a)  set out the text of the amendment;

   (b)  specify the date on which the amendment was made or adopted; and

   (c)  contain an explanation of the purpose of the amendment.

(3) If the notice required to be given by sub-section (1) is not given within
21 days after the amendment is made or adopted, the amendment ceases to have
effect.

(4) Where the Commission receives a notice under this section, the Commission
shall forthwith send a copy of the notice to each member of the Ministerial
Council.

(5) The Ministerial Council may, within 28 days after the receipt by the
Commission of a notice under this section, disallow the whole or a specified
part of the amendment to which the notice relates.

(6) Where the Ministerial Council disallows the whole or a part of an
amendment to which a notice under this section relates, the Commission shall
forthwith give notice of the disallowance to the stock exchange and, upon
receipt by the stock exchange of the notice of disallowance, the amendment, to
the extent of the disallowance, ceases to have effect.