Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p94
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 94/148)
Character Range: 567213–569906

be specific and significant, between:
 (a) the commercial interests of Australian Stock Exchange Limited (ASX) in dealing with a body (the competitor) that operates a business with which:
 (i) ASX is in competition; or
 (ii) a subsidiary of ASX is in competition; or
 (iii) a joint venture (however described) to which ASX is a party is in competition; or
 (iv) a joint venture (however described) to which a subsidiary of ASX is a party is in competition; and
 (b) the need for ASX to ensure that the market operated by it operates in the way mentioned in paragraph 792A(1)(a) of the Act.
 (2) The competitor may lodge with ASIC in the prescribed form, an application for ASIC to decide that ASIC, instead of ASX, will make decisions and take action (or require ASX to take action on ASIC's behalf) in relation to:
 (a) if the competitor is seeking to be listed—the compliance by the competitor with the applicable listing rules of the market operated by ASX; or
 (b) if the competitor is listed on the market operated by ASX—the compliance by the competitor with the applicable listing rules of the market operated by ASX.
 (3) As soon as practicable after receiving an application under subregulation (2), ASIC must:
 (a) consider whether a conflict, or potential conflict, exists as described in subregulation (1); and
 (b) if it considers that a conflict, or potential conflict, exists—consider whether, having regard to ASX's obligations under subparagraph 792A(1)(c)(i) of the Act, the conflict, or potential conflict, would be dealt with more appropriately and efficiently by a means other than taking the action mentioned in subregulation (2); and
 (c) decide whether (and to what extent):
 (i) to make decisions and take action; or
 (ii) to require ASX to take action on ASIC's behalf;
  in relation to the matters mentioned in paragraphs (2)(a) and (b).
 (4) If ASIC decides to make decisions and take action (or to require ASX to take action on ASIC's behalf) as mentioned in subregulation (2), ASIC:
 (a) may consult with ASX and the competitor to identify the listing rules of the market operated by ASX for which ASIC needs to make the decisions and take the action; and
 (b) must, as soon as practicable, decide the extent of ASIC's role, having regard to:
 (i) the rationale for the listing rules of the market operated by ASX; and
 (ii) the desirability of treating the competitor consistently with other entities listed, or seeking to be listed, on that market; and
 (iii) the extent to which action taken by ASIC is severable from the wider supervision of the competitor's compliance with the listing rules; and
 (iv) its consultations (if any) with the competitor and ASX.