Document ID: chunk:federal_register_of_legislation:F2022C00375:body:0:p3
Version: federal_register_of_legislation:F2022C00375
Segment Type: other
Provision Reference: 
Character Range: 5670–8554

the Contributor must provide the data or information; and
(ii)       other requirements imposed by the holder of the benchmark administrator licence, ASIC, the Act or the ASIC Financial Benchmark (Administration) Rules 2017.
Note 1: Under section 908CE of the Act, ASIC may only require a Contributor to do something under subrule (1) if ASIC reasonably believes it is in the public interest to do so.
Note 2: ASIC may amend or revoke a written notice under subrule (1) (see subsections 33(3) and (3AA) of the Acts Interpretation Act 1901 and section 13 of the Legislation Act 2003).
Note 3: Without limiting the form which a notice may take or the matters which may be dealt with in a notice, Schedule 2 sets out an example of a notice under subrule (1).

Schedule 1: Example of a written notice under subrule 2.1.1(1)

To: [Insert name]

Notice
1. This notice is issued under subrule 2.1.1(1) of the ASIC Financial Benchmark (Compelled) Rules 2018.

Definitions
2. In this notice:
 Act means the Corporations Act 2001.
BBSW means the Bank Bill Swap Rate, a short-term money market benchmark interest rate, as specified in the benchmark administrator licence granted to the Current Administrator under section 908CB of the Act.
BBSW Methodology means the method, a copy of which is annexed to this notice, for generating and administering the BBSW, published by the Current Administrator as the 'BBSW Calculation Methodology' as at the date of this notice.
Current Administrator means [insert name], being the holder, as at the date of this notice, of the benchmark administrator licence that specifies the BBSW.
New Administrator means [insert name], being another holder of a benchmark administrator licence that specifies the BBSW.

Requirement to generate or administer the significant financial benchmark
3. The Current Administrator must continue to generate and administer the BBSW until responsibility for generating and administering the BBSW is transitioned to the New Administrator.

Other requirements
4. The Current Administrator must generate and administer the BBSW during the period specified in paragraph (3) in accordance with the BBSW Methodology and the ASIC Financial Benchmark (Administration) Rules 2018.
5. The Current Administrator must by [insert date] have adequate arrangements for the orderly transition of the BBSW to a New Administrator.
6. Without limiting paragraph 5, the arrangements referred to in that paragraph must:
(a)        be designed to ensure that the New Administrator will have at the time of transition of the BBSW to the New Administrator:
(i)         adequate arrangements for the acceptance of financial benchmark data to be used in the generation of the BBSW;
(ii)       adequate arrangements for generating the BBSW;
(iii)     adequate arrangements for making the BBSW available to users;
(iv)      guidelines as required by Rule