Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 905C

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.