Section 905C — Corporations Act 2001 (Cth)

General

(1) ASIC may grant an applicant an Australian derivative trade repository licence if ASIC is satisfied that:

(a) the application was made in accordance with section 905B; and

(b) the applicant will comply with the obligations that will apply if the licence is granted; and

(c) no disqualified individual appears to be involved in the applicant (see Division 2 of Part 7.4).

This subsection has effect subject to subsections (2) and (3).

Note: ASIC must also have regard to the matters in section 905P in deciding whether to grant a licence.

Foreign bodies

(2) If the applicant is a foreign body corporate, ASIC must not grant the applicant a licence unless the applicant is registered under Division 2 of Part 5B.2.

Disqualified individuals

(3) ASIC must not grant the applicant a licence unless 42 days have passed since the application was made and ASIC has not given a notice under subsection 853D(2) to the applicant within that 42 days.

Related sections

• s 904L — ASIC’s power to require expert report
• s 905A — Regulations may identify derivative trade repositories as being required to be licensed
• s 905B — How to apply for a licence
• s 905D — Publication of notice of licence grant
• s 905E — More than one derivative trade repository covered by the same licence
• s 905F — The conditions on the licence

Research how courts apply s 905C

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