Commonwealth Numbered Acts Commonwealth Numbered Acts(1) Where ASIC forms the opinion that it is necessary to prohibit securities, or a particular class of securities, from being sold on a stock market of a securities exchange in a manner that, but for paragraph 846(3)(e), would contravene subsection 846(1), in order to protect persons who might suffer financial loss if they were to buy or sell those securities in that manner or in order to protect the public interest, ASIC may give written notice to the securities exchange stating that it has formed that opinion and setting out the reasons for that opinion. (2) If, after receiving such a notice:
(3) As soon as practicable after giving a notice to a securities exchange under subsection (2), ASIC must give to the Minister a written report setting out the reasons for the giving of the notice and send a copy of the report to the securities exchange. (4) On receiving the report, the Minister may direct ASIC to revoke the notice given under subsection (2), and, if such a direction is given, ASIC must immediately revoke the notice. (5) A securities exchange must not permit the selling of securities on a stock market of the securities exchange in a way that contravenes a notice given under subsection (2).