Document ID: chunk:federal_register_of_legislation:F2024C01109:reg:4:p28
Version: federal_register_of_legislation:F2024C01109
Segment Type: reg
Provision Reference: reg 4 (pt 28/34)
Character Range: 196361–199928

taken to manage the Major Event.
Review, update and testing of plans
(8) A Market Participant must:
(a)        review and test its Business Continuity Plans and the arrangements referred to in subrule (5):
(i)         at a frequency and in a manner appropriate to the nature, scale and complexity of the Market Participant's Critical Business Services, Participant Operations and Participant Services and to the Market Participant's structure and location; and
(ii)       at a minimum:
(A)      each time there is a material change to the Market Participant's Critical Business Services, Participant Operations and Participant Services or to the Market Participant's structure and location; and
(B)      as soon as practicable after the occurrence of a Major Event; and
(C)      once every 12 months; and
(b)       update the Business Continuity Plans as required to ensure they comply with subrules (1) to (4).
Documentation of plans and testing
(9) A Market Participant must document:
(a)        its Business Continuity Plans; and
(b)       the scope and results of all reviews and testing performed in accordance with subrule (8),
and must maintain that documentation for a period of at least seven years from the later of the date it is created or the date it is last amended.

Part 8B.5 Governance

8B.5.1 Responsibility for compliance
(1) A Market Participant must have appropriate governance arrangements and adequate financial, technological and human resources to comply with its obligation under this Chapter 8B.
(2) Without limiting subrule (1), the arrangements referred to in that subrule must include arrangements for the Market Participant's Board or senior management to have oversight of the establishment, implementation, maintenance, review, testing and documentation of the Market Participant's Business Continuity Plans.

Schedule

Form 1 Part 1
DIRECTORS' DECLARATION
CLIENT FUNDS
As directors of ....................[entity name] ("the Participant"), we are responsible for maintaining an effective internal control structure, including establishing and maintaining accounting records and effective internal controls designed to ensure compliance with the requirements of Rule 2.2.6 of the ASIC Market Integrity Rules (Futures Markets) 2017 in relation to clients' segregated accounts.
In carrying out this responsibility, we have had regard to the interests of the clients and owners of the Participant, and to the general effectiveness and efficiency of the operations of the Participant.
In the opinion of the directors, the Participant maintained, in all material respects, during the.......[insert number] month period ended ............[insert date] suitably designed and effective internal controls to comply with the requirements of Rule 2.2.6 of the ASIC Market Integrity Rules (Futures Markets) 2017 in relation to clients' segregated accounts.
.............................................................................................
Authorised in accordance with subrule 2.3.5(2)
............................................................................................
Name
......................................................................
Date
.............................................................................................
Authorised in accordance with subrule 2.3.5(2)
.............................................................................................
Name
......................................................................
Date

Form 1 Part 2
Annual Statement of Client Funds
Auditor's