Document ID: chunk:federal_register_of_legislation:F2022C00386:body:0:p1
Version: federal_register_of_legislation:F2022C00386
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Character Range: 14–3246

ASIC Financial Benchmark (Administration) Rules 2018

About this compilation

Compilation No. 1

This is a compilation of ASIC Financial Benchmark (Administration) Rules 2018 as in force on 10 March 2022.  It includes any commenced amendment affecting the legislative instrument to that date.
This compilation was prepared by the Australian Securities and Investments Commission.
The notes at the end of this compilation (the endnotes) include information about amending instruments and the amendment history of each amended provision.
Contents

Chapter 1: Introduction
Part 1.1 Preliminary
Part 1.2 Interpretation
Chapter 2: Obligations on benchmark administrator licensees and Contributors
Part 2.1 Governance, management and resources
Part 2.2 Financial benchmark design, data and method
Part 2.3 Business continuity and risk management
Part 2.4 Cessation of a financial benchmark
Part 2.5 Benchmark administrator licensee's guidelines for Contributors
Part 2.6 Transparency of, and access to, financial benchmarks
Part 2.7 Accountability
Part 2.8 Cooperation with ASIC
Endnotes
Endnote 1 – Instrument history
Endnote 2 -  Amendment history

  Chapter 1:            Introduction

     Part 1.1         Preliminary

     1.1.1           Enabling legislation
ASIC makes this instrument under section 908CA of the Corporations Act 2001.

     1.1.2           Title
This instrument is the ASIC Financial Benchmark (Administration) Rules 2018.

  1.1.4           Entities that must comply with these Rules
These Rules apply to benchmark administrator licensees and Contributors.
Note: Section 908CF of the Act provides that a person (whether a benchmark administrator licensee or otherwise) must comply with the provisions of the financial benchmark rules that apply to the person.

     1.1.5           Penalties for a contravention of these Rules

     The maximum pecuniary penalty payable for a contravention of a provision of these Rules is an amount determined by the Court under section 1317G of the Corporations Act.

     Part 1.2         Interpretation

     1.2.1           Words and expressions defined in the Corporations Act
Words and expressions defined in the Act for the purposes of the Act and for the purposes of Chapter 7 of the Act, will, unless otherwise defined or specified in these Rules or the contrary intention appears, have the same meaning in these Rules.

     1.2.2           Definitions
In these Rules, unless the contrary intention appears:
Act means the Corporations Act 2001.
Contributor means an entity whose activities result in the provision of data or information to a holder of a benchmark administrator licence for the generation or administration of a financial benchmark specified in that licence.
Note: Paragraph 908CB(h) provides that the rules may deal with the responsibilities of such entities.
Interest, in relation to a financial benchmark, refers to the state of affairs the financial benchmark is intended to represent, and includes, without limitation, representations based on measurement of transactions, instruments, currencies, prices, estimates, rates, indices, values, financial products, bank accepted bills or negotiable certificates of deposit, or other interests or