The exchange must comply with the arrangements.

(3) An arrangement under subsection (2) may provide for the exchange to pay fees to ASIC (on behalf of the Commonwealth) for services provided by ASIC under the arrangement, or otherwise provided under, or for the purposes of, this section. The fees may be recovered by ASIC as a debt due to the Commonwealth. (4) The listing rules of a self-listing exchange must provide for ASIC, instead of the exchange, to make decisions and to take action (or require the exchange to take action on ASIC's behalf) on the following matters:

(a)

the admission of the exchange to its own official list;

(b)

the removal of the exchange from its own official list;

(c)

granting, stopping or suspending the quotation of securities of the exchange on a stock market of the exchange.

ASIC's powers and functions

(5) ASIC has such powers and functions as are provided for it in arrangements made for the purposes of subsection (2) or in listing rules made for the purposes of subsection (4).

Note: Under section 776, ASIC may require a securities exchange to provide assistance to ASIC for the performance of ASIC's functions.

Exemptions and modifications for self-listing exchanges

(6) ASIC may:

(a)

exempt a self-listing exchange from a modifiable provision; or

(b)

declare that a modifiable provision applies to a self-listing exchange as if specified provisions were omitted, modified or varied as specified in the declaration.

(7) An exemption or declaration under subsection (6) must be in writing and ASIC must publish notice of it in the Gazette . (8) An exemption under subsection (6) may apply unconditionally or subject to specified conditions. (9) If a self-listing exchange is subject to conditions under subsection (8), it must comply with those conditions. (10) The Court, on application by ASIC, may order a self-listing exchange to comply with a condition in a specified way.

Definitions

(11) In this section: