Need for a licence
(1) A person must only operate, or hold out that the person operates, a clearing and settlement facility in this jurisdiction if: (a) the person has an Australian CS facility licence that authorises the person to operate the facility in this jurisdiction; or (b) the facility is exempt from the operation of this Part; or (c) the person is exempt from the operation of this Part. Note 1: A CS facility licensee may also provide financial services incidental to the operation of the facility: see paragraph 911A(2)(d). Note 2: Failure to comply with this subsection is an offence: see subsection 1311(1). (2) For the purposes of an offence based on subsection (1), strict liability applies to paragraph (1)(b). Note: For strict liability, see section 6.1 of the Criminal Code. (3) A person contravenes this subsection if the person contravenes subsection (1). Note: This subsection is a civil penalty provision (see section 1317E).
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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