Document ID: chunk:federal_register_of_legislation:F2024C01107:body:0:p24
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to have been given under the Pre-Commencement Market Integrity Rules.
     (3) For the avoidance of doubt, paragraph (2)(b) does not prevent ASIC amending or revoking the approval, authorisation, determination or direction in accordance with these Rules or any other law.

1.6.1B Interpretation for transitional rules
(1) For the purposes of Rules 1.6.1 and 1.6.1A, a provision (old provision) of the Pre-Commencement Market Integrity Rules corresponds to a provision (new provision) of these Rules (and vice versa) if the old provision and the new provision are substantially the same.
(2) For the purposes of subrule (1), differences of all or any of the following kinds are not sufficient to mean that two provisions are not substantially the same:
(a)        differences in the numbering or location of the provisions;
(b)       differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross-references);
(c)        the fact that one of the provisions refers to a corresponding previous law and the other does not;
(d)       other differences that are attributable to the fact that these Rules apply to different Markets.

Chapter 8: Capital requirements
Note: There is no Part 8.1 in this Chapter.

Part 8.2 Application

8.2.1 Market Participant to comply with Risk-Based Capital Requirements

(1) Subject to subrule (2), a Market Participant must at all times comply with the Risk-Based Capital Requirements.

(2) A Market Participant is not required to comply with the Risk-Based Capital Requirements if the Market Participant:
(a)        is:
(i)         only a Principal Trader; or
(ii)       a Clearing Participant of an Approved Clearing Facility and subject to the capital requirements under the Clearing Rules; or
(iii)     an Authorised Deposit Taking Institution; and
(b)       is not excluded under subrule (3) from relying on the applicable exception in paragraph (a).

(3) A Market Participant is excluded from relying on an applicable exception in paragraph (2)(a) if at a particular time ASIC:
         1.         has given the Market Participant written notice (Exclusion Notice) that the Market Participant is excluded from relying on that exception; and
         2.        has not given the Market Participant a written notice withdrawing the Exclusion Notice.

Note: The Risk-Based Capital Requirements are set out in Schedule 1A.

8.2.2 Obligation to notify ASIC in relation to other capital requirements
(1) A Market Participant that does not comply with the Risk-Based Capital Requirements in reliance on Rule 8.2.1 must give written notice to ASIC, as soon as practicable and in any event no later than one Business Day after it becomes aware of any of the following matters:
 1.         that the Market Participant will cease to be, or has ceased to be:
(i)         only a Principal Trader;
(ii)       subject to the capital requirements of