Document ID: chunk:federal_register_of_legislation:C2025C00185:section:820a
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 820A
Character Range: 3138495–3139458

820A  Need for a licence
 (1) A person must only operate, or hold out that the person operates, a clearing and settlement facility in this jurisdiction if:
 (a) the person has an Australian CS facility licence that authorises the person to operate the facility in this jurisdiction; or
 (b) the facility is exempt from the operation of this Part; or
 (c) the person is exempt from the operation of this Part.
Note 1: A CS facility licensee may also provide financial services incidental to the operation of the facility: see paragraph 911A(2)(d).
Note 2: Failure to comply with this subsection is an offence: see subsection 1311(1).
 (2) For the purposes of an offence based on subsection (1), strict liability applies to paragraph (1)(b).
Note: For strict liability, see section 6.1 of the Criminal Code.
 (3) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).