Document ID: chunk:federal_register_of_legislation:F2025L00162:body:0:p2
Version: federal_register_of_legislation:F2025L00162
Segment Type: other
Provision Reference: 
Character Range: 2996–5941

the Associated Entity provides a Covered Service.
     Data Accessing Entity means a person who accesses, or who is seeking to access, data that is stored in a Core System.
First Reporting Period means the period commencing on the day (commencement date) this instrument commences and ending on the last day of the month in which the first anniversary of the commencement date occurs.
FIX means the Financial Information eXchange protocol overseen and managed by FIX Protocol Ltd, and any reference to FIX followed by a number means the standard of that number.
Note:  For example, FIX 5.0 means the standard numbered 5.0 that is maintained and published by FIX Protocol Ltd.
International Open Communication Procedures and Standards means the following procedures and standards for messaging and reference data:
         1.     ISO 20022; and
         2.     FIX 5.0.
ISO means the International Organization for Standardization, and any reference to ISO followed by a number means the standard of that number.
Note:  For example, ISO 20022 means the standard numbered 20022 that is maintained and published by ISO.
Issuer has the meaning given by section 761E of the Act.
Rules means these ASIC CS Services Rules 2025.
Share Registry means an entity appointed by an Issuer to maintain a register required under section 168 or section 672DA of the Act.
Technology Service Provider means a person engaged by a User to facilitate the User's access to a Core System.
     Unaffiliated CS Facility Operator means the operator of a clearing and settlement facility that is not:
         1.     a Covered Licensee; or
         2.     an Associated Entity of a Covered Licensee.

     Unaffiliated Entity means a User, or potential User, that is not:
     (a) a Covered Licensee; or
     (b)  an Associated Entity of a Covered Licensee.
     Unaffiliated Market Operator means the operator of a financial market that is not:
         1.     a Covered Licensee; or
         2.     an Associated Entity of a Covered Licensee.
User means a person that uses, either directly or indirectly, a Covered Service provided by a CS Service Provider, including but not limited to the following:
         1.       a participant in a licensed CS facility operated by a Covered Licensee;
         2.       a participant in a licensed market for which a Covered Licensee provides clearing and settlement arrangements;
         3.       the operator of a financial market;
         4.       the operator of a clearing and settlement facility;
         5.       an Issuer;
         6.        a Share Registry.

Chapter 2: Conduct Rules

Part 2.1 Governance requirements

2.1.1 Board composition
(1) A Covered Licensee's board must be comprised of at least 50% non-executive directors who are independent of its ultimate holding company.
(2) A quorum of a Covered Licensee's board must be able to be formed by the non-executive directors referred to in subrule (1).
(3)