Document ID: chunk:federal_register_of_legislation:C2013C00527:clause:1_905c
Version: federal_register_of_legislation:C2013C00527
Segment Type: clause
Provision Reference: sch 1 cl 905C
Character Range: 53941–54937

905C  When a licence may be granted

General
 (1) ASIC may grant an applicant an Australian derivative trade repository licence if ASIC is satisfied that:
 (a) the application was made in accordance with section 905B; and
 (b) the applicant will comply with the obligations that will apply if the licence is granted; and
 (c) no disqualified individual appears to be involved in the applicant (see Division 2 of Part 7.4).
This subsection has effect subject to subsections (2) and (3).
Note: ASIC must also have regard to the matters in section 905P in deciding whether to grant a licence.

Foreign bodies
 (2) If the applicant is a foreign body corporate, ASIC must not grant the applicant a licence unless the applicant is registered under Division 2 of Part 5B.2.

Disqualified individuals
 (3) ASIC must not grant the applicant a licence unless 42 days have passed since the application was made and ASIC has not given a notice under subsection 853D(2) to the applicant within that 42 days.