Financial Stability Standards for Securities Settlement Facilities Revocation 2024

1 Name

This instrument is the Financial Stability Standards for Securities Settlement Facilities Revocation 2024.

2 Commencement

This instrument commences on 24 June 2024.

3 Authority

This instrument is made pursuant to subsection 827D(8) of the Corporations Act 2001.

4. Definitions

In this instrument:

Act means the Corporations Act 2001.

Determination Instrument means the instrument entitled Corporations Act 2001 - Determination of Financial Stability Standards (FRL identifier F2012L02540) made by the Reserve Bank of Australia pursuant to subsection 827D(1) of the Act on 10 December 2012.

5. Revocation

With effect on 24 June 2024, the Reserve Bank of Australia revokes the Financial Stability Standards for Securities Settlement Facilities determined on 10 December 2012 pursuant to subsection 827D(1) of the Act and set out in Annexure B of the Determination Instrument.

6. Consequential amendments to Determination Instrument

With effect on 24 June 2024, provisions of the Determination Instrument are amended or repealed as follows:

(a)    Determination of Financial Stability Standards (paragraph beginning “Pursuant to subsection 827D(1) of the Corporations Act 2001)”

Omit “; and 2. Financial Stability Standards for Securities Settlement Facilities as set out in Annexure B (SSF  Standards)”.

(b)    Determination of Financial Stability Standards (paragraph beginning “In accordance with paragraph 827D(5)(a)(ii) of the Act”)

Omit “and the SSF Standards”.

(c)    Determination of Financial Stability Standards (paragraph heading and paragraph beginning “SSF Standards 3.5”)

Omit the following:

“SSF Standards

SSF Standards 3.5, 4.5, 12.3 and 14.11 will come into force on 31 March 2014. All other SSF Standards will come into force on 29 March 2013.”

(d)    Annexure B – SSF Standards

Repeal the Annexure.

Signed

Michele Bullock
Governor
Reserve Bank of Australia

Dated:  13 June 2024