Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_823ca
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 823CA
Character Range: 153547–155085

823CA  Reserve Bank to assess licensee's compliance

 (1) At least once each year, the Reserve Bank of Australia (the Reserve Bank) must do an assessment of how well each CS facility licensee is complying with its obligation under paragraph 821A(aa). In doing the assessment, the Reserve Bank may take account of any information and reports that it thinks appropriate, including information and reports from an overseas regulatory authority.

 (2) As soon as practicable after doing an assessment under this section, the Reserve Bank must give a written report on the assessment to the Minister and a copy of the written report to ASIC.

 (3) If an assessment, or part of an assessment, relates to any other person's affairs to a material extent, the Reserve Bank may, at the person's request or of its own motion, give the person a copy of the written report on the assessment or the relevant part of the report.

 (4) If an assessment, or part of an assessment, relates to a serious contravention of a law of the Commonwealth or of a State or Territory, the Reserve Bank may give a copy of the written report on the assessment, or the relevant part of the report, to:
 (a) the Australian Federal Police; or
 (b) the National Crime Authority; or
 (c) the Director of Public Prosecutions; or
 (d) an agency prescribed by regulations made for the purposes of this paragraph.

 (5) Either the Minister or the Reserve Bank may cause the written report on an assessment, or part of the report on an assessment, to be printed and published.