Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_791a
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 791A
Character Range: 84707–85427

791A  Need for a licence

 (1) A person must only operate, or hold out that the person operates, a financial market in this jurisdiction if:
 (a) the person has an Australian market licence that authorises the person to operate the market in this jurisdiction; or
 (b) the market is exempt from the operation of this Part.

Note 1: A market licensee may also provide financial services incidental to the operation of the market: see paragraph 911A(2)(d).

Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1)).

 (2) For the purposes of an offence based on subsection (1), strict liability applies to paragraph (1)(b).

Note: For strict liability, see section 6.1 of the Criminal Code.