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CORPORATIONS ACT 2001 - SECT 905C

When a licence may be granted

General

             (1)  ASIC may grant an applicant an Australian derivative trade repository licence if ASIC is satisfied that:

                     (a)  the application was made in accordance with section 905B; and

                     (b)  the applicant will comply with the obligations that will apply if the licence is granted; and

                     (c)  no disqualified individual appears to be involved in the applicant (see Division 2 of Part 7.4).

This subsection has effect subject to subsections (2) and (3).

Note:          ASIC must also have regard to the matters in section 905P in deciding whether to grant a licence.

Foreign bodies

             (2)  If the applicant is a foreign body corporate, ASIC must not grant the applicant a licence unless the applicant is registered under Division 2 of Part 5B.2.

Disqualified individuals

             (3)  ASIC must not grant the applicant a licence unless 42 days have passed since the application was made and ASIC has not given a notice under subsection 853D(2) to the applicant within that 42 days.



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