Document ID: chunk:federal_register_of_legislation:C2005C00499:clause:1_1424:p2
Version: federal_register_of_legislation:C2005C00499
Segment Type: clause
Provision Reference: sch 1 cl 1424 (pt 2/2)
Character Range: 104162–105054

to the proposed facility, then (without limiting the generality of subsection 1410(3)), while the proposed facility remains non‑operational, the provision of the old Corporations Act only applies in relation to the proposed facility to the extent (if any) to which it would, disregarding the effect of paragraph (a), apply in relation to the proposed facility.

 (3) If a proposed clearing and settlement facility to which this section applies starts to operate on a day during the period of 6 months starting on the FSR commencement, the operator must, as soon as practicable, and in any event within 7 days, lodge with ASIC written notice of the fact that the facility started to operate on that day.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).

 (4) ASIC must, within a reasonable time, give the Minister a notice it receives under subsection (3).