Corporations Regulations 2001

This regulation applies if:

an amendment was made, by way of rescission, alteration or addition, to the SCH business rules before the FSR commencement; and

written notice of the amendment was given in accordance with subsection 779C(1) of the old Corporations Act before the FSR commencement; and

the period of 28 days in relation to the amendment, mentioned in subsection 779C(5) of the old Corporations Act, had not expired before the FSR commencement; and

the Minister had not decided, before the FSR commencement, whether to disallow the whole or a specified part of the amendment under subsection 779C(5) of the old Corporations Act.

The period of 28 days in paragraph (c) is the period in which the Minister may disallow the whole or a specified part of the amendment.

On and after the FSR commencement, section 822E of the Act has effect in relation to the amendment as if the amendment were a change to the operating rules of a licensed CS facility mentioned in section 822D of the Act.

For subregulation (2):

the securities clearing house is to be treated, under sections 822D and 822E of the Act, as a licensed CS facility that has lodged written notice of the change with ASIC; and

ASIC is taken to have complied with its obligations to the Minister under section 822E of the Act; and

the Minister is taken to have been given the notice of the change on the day on which written notice of the amendment was given in accordance with subsection 779C(1) of the old Corporations Act.