323 Minister may suspend or cancel licence

The Minister may, by written notice to the licensed market operator, suspend (for a specified period or until a specified requirement is met) or cancel a licence—

(a)

if the licensed market operator, by written notice, requests the Minister to do so; or

(b)

if the Minister is satisfied that the licensed market operator has ceased to carry on the business of operating the financial product market; or

(c)

if—

(i)

the licensed market operator has ceased to be registered under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (in the case of a licence issued under section 316); or

(ii)

the Minister is satisfied that the licensed market operator has ceased to meet the requirement in section 317(1)(d) (in the case of a licence issued under section 317 (overseas-regulated markets)); or

(d)

if the licensed market operator has become subject to an insolvency event; or

(e)

in accordance with section 343; or

(f)

in the case of a licence issued under section 317 (overseas-regulated markets), if—

(i)

the licensed market operator ceases to be authorised to operate a financial product market in the overseas jurisdiction in which the licensed market operator’s principal place of business is located; or

(ii)

there is a change to the regulatory regime applying in relation to the market to which the licence relates in the jurisdiction in which the licensed market operator’s principal place of business is located and, because of that change, the Minister is not satisfied as to the matters in section 317(1)(b).

Compare: Corporations Act 2001 s 797B (Aust)