Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:1_835c
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 1 cl 835C
Character Range: 49673–50387

835C  Consent to take action that may affect financial system stability in Australia
  If a statutory manager of a body corporate (other than the Reserve Bank) has reasonable grounds to believe that an action that the statutory manager proposes to take is an action that is likely to pose a threat to:
 (a) the stability of the financial system in Australia; or
 (b) the continuity of one or more clearing and settlement facility services that are critical to the functioning of the financial system in Australia;
the statutory manager must, before taking the action:
 (c) notify the Reserve Bank in writing as soon as practicable; and
 (d) obtain the Reserve Bank's written consent.

Subdivision E—Other matters