Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts(1) The Commissioner shall, on application by the body approved as the securities clearing house under section 779B of the Corporations Law , register the body under this Division.
(2) The registration is subject to conditions determined by the Commissioner from time to time and notified to the SCH in writing.
(3) Subject to subsection (5), the Commissioner may, by order in writing, suspend the registration for a specified period if the SCH contravenes this Division or a condition of registration.
(4) Before suspending the registration, the Commissioner shall give the SCH 7 days written notice specifying the grounds on which the Commissioner proposes to suspend the registration and the proposed period of suspension.
(5) The SCH may, within 7 days after receipt of a notice under subsection (4), apply to the Commissioner for a review of the proposed decision.
(6) The Commissioner shall not suspend the registration unless—
(a) the period of 7 days notice referred to in subsection (4) has elapsed; and
(b) the SCH has been given an opportunity to make submissions on the matter and, if it has made any such submissions, the submissions are not acceptable to the Commissioner.
(7) The registration continues in force—
(a) until cancelled on the application of the body registered; or
(b) subject to an order of suspension made under subsection (3).