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CORPORATIONS ACT 2001 - SECT 823S

Directions to preserve stability in the Australian financial system--relationship with other provisions

    If a direction under subsection   823F(1) directs a CS facility licensee to change any of the facility's operating rules or procedures (see subparagraph   823F(1)(a)(ii)), neither of the following provisions apply in relation to the change:

  (a)   subsection   822D(2) (about change ceasing to have effect if ASIC not notified);

  (b)   section   822E (about disallowance).

Note:   The licensee would still need to notify ASIC of the change: see subsection   822D(1).



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