Document ID: chunk:federal_register_of_legislation:C2025C00185:section:791a
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 791A
Character Range: 3062044–3062976

791A  Need for a licence
 (1) A person must only operate, or hold out that the person operates, a financial market in this jurisdiction if:
 (a) the person has an Australian market licence that authorises the person to operate the market in this jurisdiction; or
 (b) the market is exempt from the operation of this Part; or
 (c) the person is exempt from the operation of this Part.
Note 1: A market licensee may also provide financial services incidental to the operation of the market: see paragraph 911A(2)(d).
Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (2) For the purposes of an offence based on subsection (1), strict liability applies to paragraph (1)(b).
Note: For strict liability, see section 6.1 of the Criminal Code.
 (3) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).