Section 823S — Corporations Act 2001 (Cth)

If a direction under subsection 823F(1) directs a CS facility licensee to change any of the facility’s operating rules or procedures (see subparagraph 823F(1)(a)(ii)), neither of the following provisions apply in relation to the change:

(a) subsection 822D(2) (about change ceasing to have effect if ASIC not notified);

(b) section 822E (about disallowance).

Note: The licensee would still need to notify ASIC of the change: see subsection 822D(1).

Related sections

• s 823P — Recapitalisation directions—working out the fair value of other capital instruments
• s 823Q — Recapitalisation directions—contravening certain provisions does not affect the validity of the direction etc.
• s 823R — Recapitalisation directions—exceptions to Part IV of the Competition and Consumer Act 2010
• s 823T — All Reserve Bank directions—publishing details about directions
• s 823U — All Reserve Bank directions—injunctions
• s 823V — Exercise of Reserve Bank powers to give directions under section 823F not grounds for denial of obligations

Research how courts apply s 823S

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