Subdivision 2 The securities clearing house

94J   Registration as the securities clearing house

(1)  The Chief Commissioner must, on application (in a form approved by the Chief Commissioner) 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 Chief Commissioner from time to time and notified to SCH by writing.

(3)  The registration continues in force:

(a)  until cancelled on the application of the body registered, and

(b)  subject to an order of suspension made by the Chief Commissioner for a specified period for contravention of this Division or a condition of the registration.

94K   Monthly return

(1)  SCH must, on or before the fifteenth day of each month:

(a)  lodge with the Chief Commissioner a return in the form and containing the particulars required by the Chief Commissioner under the conditions of registration of SCH, and

(b)  pay to the Chief Commissioner any duty paid to SCH under this Act in respect of an SCH-regulated transfer made in the preceding month.

(2)  SCH is liable to pay a penalty to the Chief Commissioner of 10% per annum on the amount of any duty payable under this section that remains unpaid.

94L   Returns to be kept by SCH

SCH must keep a return lodged with it by an SCH participant under this Division in an accessible form for a period of not less than 5 years from the date on which it was so lodged.

94M   Disclosure to SCH of information

Nothing in this Act prevents the disclosure to SCH of information acquired in, or in connection with, the administration of this Division.