Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person must only operate, or hold out that the person operates, a financial market in this jurisdiction if:
(a) the person has an Australian market licence that authorises the person to operate the market in this jurisdiction; or
(b) the market is exempt from the operation of this Part.
Note 1: A market licensee may also provide financial services incidental to the operation of the market: see paragraph 911A(2)(d).
Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(2) For the purposes of an offence based on subsection (1), strict liability applies to paragraph (1)(b).
Note: For strict liability , see section 6.1 of the Criminal Code .
(3) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).