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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1136

ASIC to be notified of amendments of business rules

(1) Where an amendment is made by way of rescission or alteration of, or addition to, the business rules of a futures exchange, of a clearing house for a futures exchange, or of a futures association, the futures exchange, clearing house or futures association, as the case may be, must, forthwith after the making of the amendment, give written notice of the amendment to ASIC. (2) A notice under subsection (1) must:

set out the text of the amendment to which it relates; and

specify the date on which the amendment was made; and

contain an explanation of the purpose of the amendment.

(3) If a notice required by subsection (1) to be given in relation to an amendment is not given within 21 days after the making of the amendment, the amendment ceases to have effect. (4) Where ASIC receives a notice under this section, ASIC must forthwith send a copy of the notice to the Minister. (5) The Minister may, within 28 days after the receipt by ASIC of a notice under this section, disallow the whole or a specified part of the amendment to which the notice relates. (6) Where the Minister disallows under this section the whole or a part of an amendment of the business rules of a body corporate, ASIC must forthwith give notice of the disallowance to the body corporate and, upon receipt by the body corporate of the notice of disallowance, the amendment ceases, to the extent of the disallowance, to have effect.

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