Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_826b
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 826B
Character Range: 168883–169849

826B  Immediate suspension or cancellation

  The Minister may, by giving written notice to a CS facility licensee, suspend the licence for a specified period, or cancel it, if:
 (a) the licensee ceases to carry on the business of operating the facility; or
 (b) the licensee becomes an externally‑administered body corporate; or
 (c) the licensee asks the Minister to do so; or
 (d) in the case of a licence granted under subsection 824B(2) (overseas clearing and settlement facilities):
 (i) the licensee ceases to be authorised to operate a clearing and settlement facility in the foreign country in which the licensee's principal place of business is located; or
 (ii) there is a change to the regulatory regime applying in relation to the facility to which the licence relates in the country in which the licensee's principal place of business is located, and, because of that change, the Minister is no longer satisfied as mentioned in paragraph 824B(2)(c).