Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 908CE

  (1)   The permitted powers and matters are the following:

  (a)   the power for ASIC to require, by written notice, an entity referred to in paragraph   908CB(h):

  (i)   to provide data or information to a benchmark administrator licensee, or to another entity, for the generation or administration of a significant financial benchmark specified in that licence; and

  (ii)   to provide ASIC with some or all of that data or information for purposes relating to the generation or administration of that significant financial benchmark;

  (b)   the power for ASIC to require, by written notice, a benchmark administrator licensee:

  (i)   to continue to generate or administer a significant financial benchmark specified in that licence; or

  (ii)   to generate or administer in a particular way a significant financial benchmark specified in that licence;

  (c)   powers or matters incidental or related to:

  (i)   one or more of the above powers; or

  (ii)   the compulsory generation or administration of a significant financial benchmark specified in a benchmark administrator licence;

    including a power or matter prescribed by the regulations for the purposes of this paragraph.

  (2)   However, ASIC may only require something under a power referred to in subsection   (1) if:

  (a)   ASIC reasonably believes it is in the public interest to do so; and

  (b)   in the case of paragraph   (1)(a)--the activities of the entity concerned have previously resulted in the provision of data or information to that licensee for the generation or administration of that significant financial benchmark.