Section 908AA — Corporations Act 2001 (Cth)

Administrators of significant financial benchmarks must be licensed under this Part. Administrators of other financial benchmarks may voluntarily opt in to the same licensing scheme.

Licensees are subject to certain obligations.

ASIC may make financial benchmark rules that apply in relation to licensees and the financial benchmarks they administer.

ASIC may also make compelled financial benchmark rules to deal with circumstances such as the failure of a licensee to administer a significant financial benchmark specified in its licence.

Offences and civil penalty provisions apply to conduct that could unduly manipulate a financial benchmark.

Related sections

• s 907C — Compliance with requirements to provide derivative trade data or other information: protection from liability
• s 907D — Exemptions by ASIC
• s 907E — Exemptions and modifications by regulations
• s 908AB — Meaning of financial benchmark
• s 908AC — Meaning of significant financial benchmark
• s 908AD — Emergency declarations: consultation and consent not required

Research how courts apply s 908AA

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