Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a financial services licensee becomes a participant in a licensed market or a licensed CS facility, or ceases to be such a participant:
(a) the financial services licensee must lodge written notice of that fact with ASIC; and
(b) the notice must be lodged in accordance with this section.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(2) The notice must say when the event happened and identify the market or facility.
(3) The notice must be given as soon as practicable after the event happened.
(4) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).