Commonwealth Consolidated Acts Commonwealth Consolidated ActsASIC may, by giving written notice to a derivative trade repository licensee, suspend the licence for a specified period, or cancel it, if:
(a) the licensee ceases to carry on the business of operating the repository to which the licence relates; or
(aa) both of the following subparagraphs apply:
(i) it has been at least 12 months since ASIC granted the licence;
(ii) during the last 12 months, the licensee has not provided the repository's services to which the licence relates; or
(ab) all of the following subparagraphs apply:
(i) it has been at least 12 months since ASIC granted the licence;
(ii) the licence is subject to a condition specifying that the licensee is authorised to engage in specified conduct or activity that constitutes operating that repository;
(iii) during the last 12 months, the licensee has not engaged in any such specified conduct or activity; or
(b) the licensee becomes a Chapter 5 body corporate; or
(c) the licensee asks ASIC to do so; or
(ca) an application has been made under section 601AA to deregister the licensee as a company; or
(cb) ASIC has decided under section 601AB to deregister the licensee as a company; or
(d) in the case of a licensee that is a leviable entity (within the meaning of the ASIC Supervisory Cost Recovery Levy Act 2017 )--the following have not been paid in full at least 12 months after the due date for payment:
(i) an amount of levy (if any) payable in respect of the licensee;
(ii) the amount of late payment penalty payable (if any) in relation to the levy;
(iii) the amount of shortfall penalty payable (if any) in relation to the levy.