Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1136

1136. (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, shall, forthwith
after the making of the amendment, give written notice of the amendment to the
Commission.

(2) A notice under subsection (1) shall:

   (a)  set out the text of the amendment to which it relates;

   (b)  specify the date on which the amendment was made; and

   (c)  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 the Commission receives a notice under this section, the Commission
shall forthwith send a copy of the notice to the Minister.

(5) The Minister may, within 28 days after the receipt by the Commission 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, the Commission shall
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.

(7) If:

   (a)  a notice was duly given by a futures exchange to the NCSC before the
        commencement of this Part under a law corresponding to this section;

   (b)  a period of 28 days after the receipt of the notice by the NCSC had
        not elapsed before that commencement; and

   (c)  the Ministerial Council had not before that commencement disallowed
        the whole or a part of the amendment to which the notice related; this
        section (other than paragraph (2) (b)) applies as if the amendment had
        been made or adopted, as the case may be, on the day of commencement
        of this Part.