Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An asset is a critical financial market infrastructure asset if it is any of the following assets:
(a) an asset that:
(i) is owned or operated by an Australian body corporate that holds an Australian market licence; and
(ii) is used in connection with the operation of a financial market that, in accordance with subsection (2), is critical to the security and reliability of the financial services and markets sector;
(b) an asset that:
(i) is owned or operated by an associated entity of an Australian body corporate that holds an Australian market licence; and
(ii) is used in connection with the operation of a financial market that, in accordance with subsection (2), is critical to the security and reliability of the financial services and markets sector;
(c) an asset that:
(i) is owned or operated by an Australian body corporate that holds an Australian CS facility licence; and
(ii) is used in connection with the operation of a clearing and settlement facility that, in accordance with subsection (3), is critical to the security and reliability of the financial services and markets sector;
(d) an asset that:
(i) is owned or operated by an associated entity of an Australian body corporate that holds an Australian CS facility licence; and
(ii) is used in connection with the operation of a clearing and settlement facility that, in accordance with subsection (3), is critical to the security and reliability of the financial services and markets sector;
(e) an asset that:
(i) is owned or operated by an Australian body corporate that holds a benchmark administrator licence; and
(ii) is used in connection with the administration of a significant financial benchmark that, in accordance with subsection (4), is critical to the security and reliability of the financial services and markets sector;
(f) an asset that:
(i) is owned or operated by an associated entity of an Australian body corporate that holds a benchmark administrator licence; and
(ii) is used in connection with the administration of a significant financial benchmark that, in accordance with subsection (4), is critical to the security and reliability of the financial services and markets sector;
(g) an asset that:
(i) is owned or operated by an Australian body corporate that holds an Australian derivative trade repository licence; and
(ii) is used in connection with the operation of a derivative trade repository that, in accordance with subsection (5), is critical to the security and reliability of the financial services and markets sector;
(h) an asset that:
(i) is owned or operated by an associated entity of an Australian body corporate that holds an Australian derivative trade repository licence; and
(ii) is used in connection with the operation of a derivative trade repository that, in accordance with subsection (5), is critical to the security and reliability of the financial services and markets sector;
(i) an asset that is used in connection with the operation of a payment system that, in accordance with subsection (6), is critical to the security and reliability of the financial services and markets sector.
Note: The rules may prescribe that a specified critical financial market infrastructure asset is not a critical infrastructure asset (see section 9).
(2) For the purposes of paragraphs (1)(a) and (b), the rules may prescribe:
(a) specified financial markets that are critical to the security and reliability of the financial services and markets sector; or
(b) requirements for a financial market to be critical to the security and reliability of the financial services and markets sector.
(3) For the purposes of paragraphs (1)(c) and (d), the rules may prescribe:
(a) specified clearing and settlement facilities that are critical to the security and reliability of the financial services and markets sector; or
(b) requirements for a clearing and settlement facility to be critical to the security and reliability of the financial services and markets sector.
(4) For the purposes of paragraphs (1)(e) and (f), the rules may prescribe:
(a) specified significant financial benchmarks that are critical to the security and reliability of the financial services and markets sector; or
(b) requirements for a significant financial benchmark to be critical to the security and reliability of the financial services and markets sector.
(5) For the purposes of paragraphs (1)(g) and (h), the rules may prescribe:
(a) specified derivative trade repositories that are critical to the security and reliability of the financial services and markets sector; or
(b) requirements for a derivative trade repository to be critical to the security and reliability of the financial services and markets sector.
(6) For the purposes of paragraph (1)(i), the rules may prescribe:
(a) specified payment systems that are critical to the security and reliability of the financial services and markets sector; or
(b) requirements for a payment system to be critical to the security and reliability of the financial services and markets sector.
(7) For the purposes of this section, Australian body corporate means a body corporate that is incorporated in Australia.