(1) A derivative trade repository licensee must:
(a) comply with the conditions on the licence; and
(b) if the licensee is a foreign body corporate--be registered under Division 2 of Part 5B.2; and
(c) take all reasonable steps to ensure that no disqualified individual becomes, or remains, involved in the operator (see Division 2 of Part 7.4).
Note: Derivative trade repository licensees must also comply with other provisions of this Part that apply to them.
(2) A person contravenes this subsection if the person contravenes paragraph (1)(b) or (c).
Note: This subsection is a civil penalty provision (see section 1317E).