Commonwealth Consolidated Regulations

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Obligation to inform ASIC of certain matters: becoming director, secretary or executive officer of CS facility licensee

             (1)  This regulation applies if a person becomes a director, secretary or executive officer of a market licensee or of a holding company of a CS facility licensee (including when the person changes from one of those positions to another).

             (2)  For subsection 821B(4) of the Act, the information to be given to ASIC by the CS facility licensee is:

                     (a)  the person's name and contact details; and

                     (b)  the date of appointment to the position; and

                     (c)  the person's educational qualifications and financial market experience; and

                     (d)  if the CS facility licensee is aware of any details of a conviction of the kind mentioned in subsection 206B(1) of the Act--the details; and

                     (e)  whether the CS facility licensee knows whether the person:

                              (i)  is an undischarged bankrupt; or

                             (ii)  has entered into a deed of arrangement or composition of a kind mentioned in subsections 206B(3) and (4) of the Act;

                            and, if the CS facility licensee knows the information, details of what the CS facility licensee knows.

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