(1) The regulations may identify one or more classes of derivative trade repositories as being required to be licensed under this Part.
Note: Subject to this Part, derivative trade repositories may be licensed under this Part even if they are not required to be licensed.
(2) If the regulations identify a class of derivative trade repositories as being required to be licensed under this Part, a person must not operate, or hold out that the person operates, a repository in the class if the person does not have an Australian derivative trade repository licence that authorises the person to operate the repository.
Note 1: Failure to comply with this subsection is an offence: see subsection 1311(1).
Note 2: For other offences dealing with holding out, see section 907A.
(3) A person contravenes this subsection if the person contravenes subsection (2).
Note: This subsection is a civil penalty provision (see section 1317E).