Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


ASIC to consult before making rules

             (1)  ASIC must not make a derivative trade repository rule unless ASIC:

                     (a)  has consulted the public about the proposed rule; and

                     (b)  has also consulted any other person or body as required by regulations made for the purpose of this paragraph.

Note:          In some situations, consultation is not required: see section 903J.

             (2)  Without limiting the ways in which ASIC may comply with the obligation in paragraph (1)(a) to consult the public about a proposed rule, ASIC is taken to comply with that obligation if ASIC, on its website:

                     (a)  makes the proposed rule, or a description of the content of the proposed rule, available; and

                     (b)  invites the public to comment on the proposed rule.

             (3)  A failure to consult as required by subsection (1) does not invalidate a derivative trade repository rule.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback