Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_820c
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 820C
Character Range: 134144–135285

820C  Exemptions

 (1) The Minister may, by publishing a notice in the Gazette, exempt from the operation of this Part a particular clearing and settlement facility or type of clearing and settlement facility.

 (2) The Minister may, at any time, by publishing a notice in the Gazette:
 (a) impose conditions, or additional conditions, on an exemption; or
 (b) vary or revoke the conditions on an exemption; or
 (c) revoke an exemption.

 (3) However, the Minister may only take action under subsection (2) after:
 (a) giving notice, and an opportunity to make submissions on the proposed action, to the operator of each clearing and settlement facility known by the Minister to be covered by the exemption; and
 (b) if the exemption covers a type of clearing and settlement facility—causing a notice to be published in a newspaper or newspapers circulating generally in each State and internal Territory allowing a reasonable time within which the operator of each facility covered by the exemption may make submissions on the proposed action.
This subsection does not apply to the Minister imposing conditions when an exemption is made.