Commonwealth Consolidated Acts

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Approval of material changes to the AFCA scheme

  (1)   AFCA may request ASIC to approve a material change to the AFCA scheme.

Note:   A material change must not be made to the scheme without ASIC's approval (see paragraph   1051(5)(b)).

  (2)   ASIC may, by written notice given to AFCA, approve the change.

  (3)   In considering whether to approve the change, ASIC must take into account the following in relation to the scheme as it is proposed to be changed:

  (a)   the mandatory requirements for the scheme under section   1051;

  (b)   the general considerations for the scheme under section   1051A;

  (c)   any conditions imposed by the Minister on the authorisation of the scheme under paragraph   1050(5)(b);

  (d)   any regulatory requirements issued under section   1052A.

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