Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW
- SECT 779C

(1)

As soon as practicable after the SCH business rules are amended (whether by way of rescission, alteration or addition), the securities clearing house must give written notice of the amendment to the Commission.

(2)

A notice must:

(a)

set out the text of the amendment; and

(b)

specify the day on which the amendment was made; and

(c)

explain the purpose of the amendment.

(3)

If a notice is not given as required within 21 days after an amendment is made, the amendment ceases to have effect.

(4)

The Commission must send a copy of a notice to the Minister as soon as practicable after receiving it.

(5)

The Minister may, within 28 days after the Commission receives a notice, disallow the whole or a specified part of the amendment to which the notice relates.

(6)

If the Minister disallows the whole or a part of an amendment, the Commission must, as soon as practicable, give notice of the disallowance to the securities clearing house and, when the securities clearing house receives the notice, the amendment ceases to have effect to the extent of the disallowance.