Document ID: chunk:federal_register_of_legislation:F2024C01109:front:0:p28
Version: federal_register_of_legislation:F2024C01109
Segment Type: other
Provision Reference: 
Character Range: 73198–76135

and direct the auditor to notify ASIC immediately if any limitation is imposed on the auditor, or if the auditor is hindered or delayed in the performance of the auditor's duties.

(3) The records of each of the Market Participant's nominee companies must be included in the audit under paragraph 2.3.5(1)(b).

Part 2.4 Foreign Participants

2.4.1 Minimum presence requirements

(1) This Rule applies to a Market Participant (Foreign Market Participant) that:
(a)        is a foreign entity; and
(b)       does not hold an Australian financial services licence.
(2) Before entering into a transaction on a Market, a Foreign Market Participant must provide ASIC with a deed of the Foreign Market Participant for the benefit of and enforceable by ASIC and the other persons referred to in subsection 659B(1) of the Corporations Act, which deed provides:
(a)        that the deed is irrevocable except with the prior written consent of ASIC;
(b)       that the Foreign Market Participant submits to the non-exclusive jurisdiction of the Australian courts in legal proceedings conducted by ASIC (including under section 50 of the ASIC Act) and, in relation to proceedings relating to a financial services law, by any person referred to in subsection 659B(1) of the Corporations Act and whether brought in the name of ASIC or the Crown or otherwise;
(c)        that the Foreign Market Participant covenants to comply with any order of an Australian court in respect of any matter relating to the activities or conduct of the Foreign Market Participant in relation to a Market or in relation to financial products traded on a Market, including but not limited to any matter relating to the Foreign Market Participant's obligations under:
 1.          the ASIC Act;
 2.        the Corporations Act;
 3.      the Corporations (Fees) Act 2001;
 4.       ASIC Supervisory Cost Recovery Levy Act 2017; and
 5.        ASIC Supervisory Cost Recovery Levy (Collection) Act 2017;
 1.        that if the Foreign Market Participant is not registered under Division 2 of Part 5B.2 of the Corporations Act:
        1.          the Foreign Market Participant must have at all times an agent who is:
               1.       a natural person or a company;
               2.       resident in this jurisdiction; and
               3.       authorised to accept, on behalf of the Foreign Market Participant, service of process and notices;
        1.        the Foreign Market Participant must notify ASIC of any change to:
               1.       the agent; or
               2.       the name and address of the agent (if the agent is a company, address means the address of the registered office of the company); and
        2.      service of process on the Foreign Market Participant in relation to legal proceedings conducted by ASIC (including under section 50 of the ASIC Act), and in relation to proceedings relating to a financial services law, by any