Commonwealth Consolidated Acts

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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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