Section 848A — Corporations Act 2001 (Cth)

(1) The Reserve Bank may determine, in writing, that specified information is covered by this subsection if:

(a) the information is:

(i) information that reveals the fact that a specified direction given to a body corporate under subsection 840A(1) was given; or

(ii) information that is, or is contained in a specified document, given to a body corporate covered by subsection (2) of this section by the Reserve Bank in the exercise of a power or the performance of a function under this Part; and

(b) the Reserve Bank reasonably believes that the determination is appropriate to manage or respond to a condition in section 831A being satisfied in relation to a CS facility licensee.

(2) A body corporate is covered by this section if it is incorporated in Australia and it:

(a) is a CS facility licensee; or

(b) is a related body corporate of a CS facility licensee; or

(c) was a related body corporate of a CS facility licensee before a transfer of business or shares under this Part; or

(d) is a body corporate to which information has been provided under section 839B in relation to a transfer.

(3) As soon as practicable after making the determination, the Reserve Bank must give the body corporate to which the determination relates a copy of the determination.

(4) As soon as practicable after the Reserve Bank gives the body corporate a copy of the determination under subsection (3), the body corporate must:

(a) take reasonable steps to discover who is covered by paragraphs 848C(2)(a) and (b) in relation to the information specified in the determination; and

(b) if it is practicable to do so—give a copy of the determination to each person who the body corporate believes to be so covered.

Note: Failure to comply with this subsection is an offence: see subsection 1311(1).

Reserve Bank must consider other determinations

(5) If the Reserve Bank makes a determination under subsection (1) of this section, the Reserve Bank must consider whether to also make a determination under section 848E (determination allowing disclosure by specified persons).

Determination not a legislative instrument

(6) An instrument made under subsection (1) is not a legislative instrument.

Related sections

• s 846A — Authorising arrangements for the purposes of crisis resolution
• s 846B — Appropriation of Consolidated Revenue Fund
• s 847A — Reserve Bank may recognise crisis resolution of foreign operator of a clearing and settlement facility
• s 848B — Variation or revocation of determinations
• s 848C — Prohibition on disclosing information covered by secrecy provision
• s 848D — Disclosure of publicly available information

Research how courts apply s 848A

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