Section 1423 — Corporations Act 2001 (Cth)

Subject to section 1424, in this Subdivision, a reference to a clearing and settlement facility being operated immediately before the FSR commencement is a reference to a clearing and settlement facility that had not permanently ceased to operate before the FSR commencement, even if the clearing and settlement of transactions by means of the facility was not actually occurring immediately before the FSR commencement (for example, because of a routine temporary closure of the facility).

Related sections

• s 1420 — Treatment of stock markets of approved securities organisations
• s 1421 — Treatment of special stock markets for unquoted interests in a registered scheme
• s 1422 — Treatment of other markets that were not unauthorised
• s 1424 — Treatment of proposed clearing and settlement facilities that have not started to operate by the FSR commencement
• s 1424A — Treatment of unregulated clearing and settlement facilities operated by holders of old Corporations Act approvals
• s 1425 — Obligation of Minister to grant licences covering main existing facilities

Research how courts apply s 1423

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.