Document ID: chunk:federal_register_of_legislation:F2022C00375:body:0:p1
Version: federal_register_of_legislation:F2022C00375
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ASIC Financial Benchmark (Compelled) Rules 2018

About this compilation

Compilation No. 1

This is a compilation of ASIC Financial Benchmark (Compelled) Rules 2018 as in force on 10 March 2022.  It includes any commenced amendment affecting the legislative instrument to that date.
This compilation was prepared by the Australian Securities and Investments Commission.
The notes at the end of this compilation (the endnotes) include information about amending instruments and the amendment history of each amended provision.
Contents

Chapter 1: Introduction
Part 1.1 Preliminary
Part 1.2 Interpretation
Chapter 2: Mandatory generation or administration of a significant financial benchmark
Chapter 3: Mandatory submissions to a significant financial benchmark
Endnotes
Endnote 1 – Instrument history
Endnote 2 -  Amendment history

  Chapter 1:            Introduction

     Part 1.1         Preliminary

     1.1.1           Enabling legislation

     ASIC makes this instrument under section 908CD of the Corporations Act 2001.

     1.1.2           Title

     This instrument is the ASIC Financial Benchmark (Compelled) Rules 2018.

  1.1.4           Entities that must comply with these Rules
These Rules apply to benchmark administrator licensees and Contributors.
Note: Section 908CF of the Act provides that a person (whether a benchmark administrator licensee or otherwise) must comply with the provisions of the compelled financial benchmark rules that apply to the person.

     1.1.5           Penalties for a contravention of these Rules
The maximum pecuniary penalty payable for a contravention of a provision of these Rules is an amount determined by the Court under section 1317G of the Corporations Act.

     Part 1.2         Interpretation

     1.2.1           Words and expressions defined in the Corporations Act
Words and expressions defined in the Act for the purposes of the Act and for the purposes of Chapter 7 of the Act will, unless otherwise defined or specified in these Rules or the contrary intention appears, have the same meaning in these Rules.
Note: For convenience, some words and expressions defined in the Act may be cross-referenced in Rule 1.2.2.

     1.2.2           Definitions
Act means the Corporations Act 2001.
Contributor means an entity whose activities result in the provision of data or information to a holder of a benchmark administrator licence for the generation or administration of the financial benchmarks specified in that licence.
Note: Paragraph 908CE(1)(a) provides that the powers conferred by these rules may allow ASIC to impose requirements on such entities by written notice.
Rules means these rules.

  Chapter 2:            Mandatory generation or administration of a significant financial benchmark

     2.1.1           Notice to benchmark administrator licensee
(1) ASIC may, by written notice, require the holder of a benchmark administrator licence that specifies a significant financial benchmark:
(a)        to continue to generate or administer the significant financial benchmark; or
(b)       to generate or administer the significant financial benchmark in a particular way.
(2) The licensee must comply with the notice.
(3)