Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:2:p3
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 2 (pt 3/22)
Character Range: 439483–442253

house must give written notice of the amendment to the Commission.

  "(2) A notice must:

  (a)     set out the text of the amendment; and

  (b)     specify the day on which the amendment was made; and

  (c)     explain the purpose of the amendment.

"(3) If a notice is not given as required within 21 days after an amendment is made, the amendment ceases to have effect.

"(4) The Commission must send a copy of a notice to the Minister as soon as practicable after receiving it.

"(5) The Minister may, within 28 days after the Commission receives a notice, disallow the whole or a specified part of the amendment to which the notice relates.

"(6) If the Minister disallows the whole or a part of an amendment, the Commission must, as soon as practicable, give notice of the disallowance to the securities clearing house and, when the securities

clearing house receives the notice, the amendment ceases to have effect to the extent of the disallowance.

Securities clearing house to assist Commission

"779D. The securities clearing house must provide such assistance to the Commission, or to a person acting on behalf of, or with the authority of, the Commission, as the Commission reasonably requires for the performance of its functions.

Securities clearing house to notify Commission of disciplinary action

"779E. If the securities clearing house decides to discipline an SCH participant, it must, as soon as practicable, lodge written particulars of the participant's name and of the reason for, and nature of, the disciplinary action taken or to be taken.

Issuers of quoted securities and quoted rights to comply with SCH business rules

  "779F. If:

    (a)     a provision of the SCH business rules purports to apply in relation to the issuing body, within the meaning of Division 3 of Part 7.13, in relation to quoted securities or quoted rights; and

    (b)     the issuing body is not otherwise bound to comply with the provision;

the issuing body is, by force of this section, bound to comply with the provision.

Power of Court to order compliance with provisions of SCH business rules

  "779G.(1) If:

    (a)     a person is bound to comply with a provision of the SCH business rules; and

  (b)     the person contravenes the provision;

then, subject to subsection (2), the Court may, on the application of the securities clearing house, of the Commission, or of a person aggrieved by the contravention, make an order giving directions to the first-mentioned person about complying with the provision.

"(2) The Court may not make an order giving directions to a person unless the person has been given an opportunity of being heard.

Qualified privilege in respect of disciplinary proceedings

"779H.(1) The securities clearing house, or