Commonwealth Consolidated Acts

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Immediate suspension or cancellation

                   ASIC may, by giving written notice to a derivative trade repository licensee, suspend the licence for a specified period, or cancel it, if:

                     (a)  the licensee ceases to carry on the business of operating the derivative trade repository; or

                     (b)  the licensee becomes a Chapter 5 body corporate; or

                     (c)  the licensee asks ASIC to do so; or

                     (d)  in the case of a licensee that is a leviable entity (within the meaning of the ASIC Supervisory Cost Recovery Levy Act 2017 )--the following have not been paid in full at least 12 months after the due date for payment:

                              (i)  an amount of levy (if any) payable in respect of the licensee;

                             (ii)  the amount of late payment penalty payable (if any) in relation to the levy;

                            (iii)  the amount of shortfall penalty payable (if any) in relation to the levy.

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