Document ID: chunk:federal_register_of_legislation:F2024C01109:reg:4:p21
Version: federal_register_of_legislation:F2024C01109
Segment Type: reg
Provision Reference: reg 4 (pt 21/34)
Character Range: 176419–179295

nature and impact of the Major Event; and
(ii)       the steps that are being taken or will be taken to manage the Major Event; and
(iii)     the likely timing of the steps referred to in subparagraph (ii); and
(iv)      the likely timing of the resumption of the usual operation of the Market operator's Critical Business Services, Market Operations and Market Services; and
(i)         any operational dependencies between the Market operator and any other person that may affect the matters referred to in paragraphs (a) to (h).
(5) Without limiting paragraph (4)(i), a Market operator must have in place adequate arrangements to ensure that the Market operator is able to carry out its Business Continuity Plans with respect to any Critical Business Services the subject of an Outsourcing Arrangement.
Notification of an Incident or Major Event
(6) Without limiting paragraph (4)(h), a Market operator must:
(a)        notify ASIC immediately upon becoming aware of:
(i)         an unexpected disruption to the usual operation of the Market operator's Critical Business Services that may interfere with the fair, orderly or transparent operation of any Market (Incident); or
(ii)       a Major Event; and
(b)       notify other Market operators, operators of Clearing Facilities and Market Participants that may be impacted by an Incident or a Major Event, as soon as practicable after becoming aware of the Incident or Major Event.
(7) If a notification is made under subrule (6), the Market operator must within seven days of the notification provide ASIC with a written report detailing:
(a)        the circumstances of the Incident or Major Event; and
(b)       the steps taken to manage the Incident or Major Event.
Review, update and testing of plans
(8) A Market operator must:
(a)        review and test its Business Continuity Plans and the arrangements referred to in subrule (5):
(i)         at a frequency and in a manner appropriate to the nature, scale and complexity of the Market operator's Critical Business Services, Market Operations and Market Services and to the Market operator's structure and location; and
(ii)       at a minimum:
(A)      each time there is a material change to the Market operator's Critical Business Services, Market Operations and Market Services or to the Market operator's structure and location; and
(B)      as soon as practicable after the occurrence of a Major Event; and
(C)      once every 12 months; and
(b)       update the Business Continuity Plans as required to ensure they comply with subrules (1) to (4).
Documentation of plans and testing
(9) A Market operator must document:
(a)        its Business Continuity Plans; and
(b)       the scope and results of all reviews and testing performed in accordance with subrule (8),

     and must maintain that documentation for a period of at least seven years from the