268 NEW ZEALAND GAZETTE, No. 11 2 FEBRUARY 2012

(8) The Company must provide Financial Markets Authority with notice in writing, as soon as reasonably practicable, where the Company:

(a) seeks to delegate to any person, committee or body any of the powers, rights and discretions of the Company under the Rules;

(b) seeks to designate a person (other than the Head of Market Supervision) as an NZX Designated Person and include in such notification the matters for which such person will be responsible; or

(c) seeks to approve a Market Maker Programme under the Rules.

(9) The Company shall at all times ensure that the Financial Markets Authority has been given notice of:

(a) the main person who is exercising delegations at that time; and

(b) the person Financial Markets Authority should contact in the first instance about any matters arising.

(10) The Company must, within three months after the end of its financial year, give a report to Financial Markets Authority on how well it has met its obligations under clause 7(1) of this notice in the preceding financial year.

(11) The Company must provide a report to Financial Markets Authority following completion of each risk assessment review to identify vulnerabilities in the Trading System at a minimum of every six months from the date of this notice.

7. Conditions relating to market supervision—(1) The Company must:

(a) to the extent that it is reasonably practicable, do all things necessary to ensure that the Market operates in a fair, orderly and transparent manner;

(b) have adequate arrangements for supervising the Market, including arrangements:

(i) for handling conflicts between the commercial interests of the Company and the need for the Company to ensure that the Market operates in a fair, orderly and transparent manner;

(ii) for monitoring the conduct of Participants;

(iii) for enforcing compliance with the Rules and Procedures; and

(iv) that ensure there is a sufficiently independent adjudicative body to adjudicate on contraventions of the Regulations that are referred to it; and

(c) have sufficient resources (including financial, technological and human resources) to operate the Market properly and for the required supervisory arrangements to be provided.

8. Revocation—The Authorised Futures Exchange (NZX Limited) Notice 2010, published in the New Zealand Gazette, 9 September 2010, No. 115, page 3105, is revoked.

Dated at Wellington this 31st day of January 2012.

ELAINE CAMPBELL, Head of Market Supervision, Financial Markets Authority.

Schedule

1. Financial Markets Authority will give written notice to the Company, and if after receiving Financial Markets Authority’s notice, the Company does not take, within two Trading Days:

(a) either:

(i) in the case of a proposed direction to suspend the trading of Contracts or a class of Contracts, actions to prevent that trading; or

(ii) in any other case, any other action that, in Financial Markets Authority’s view, is adequate to assess the situation raised in the notice; and

(b) Financial Markets Authority has had regard to any written submissions made to it by the Company; and

(c) Financial Markets Authority still considers that it is appropriate to give the direction to the Company.

2. If Financial Markets Authority thinks it necessary or desirable in the public interest for a direction to be made more urgently than two Trading Days it may give the Company less than two Trading Days’ notice but must include in that notice the reasons for acting urgently.

3. The written notice given by Financial Markets Authority to the Company under clause 1 of this Schedule must include:

(a) Financial Markets Authority’s opinion that the matters listed in clause 5(2) of this notice which are required to be satisfied, have been satisfied;

(b) the proposed terms of the direction; and

(c) the reasons for Financial Markets Authority’s opinion under clause 3(a) of this Schedule.

au566

The Authorised Futures Exchange (Australian Securities Exchange Limited) Notice 2012

Pursuant to section 37(8) of the Securities Markets Act 1988, the Financial Markets Authority gives the following notice.

Notice

1. Title and commencement—(1) This notice may be cited as the Authorised Futures Exchange (Australian Securities Exchange Limited) Notice 2012.

(2) This notice shall come into force on the day after the date of its publication in the New Zealand Gazette and shall continue in force until revoked by Financial Markets Authority.

2. Interpretation—(1) In this notice, unless the context otherwise requires:

Act means the Securities Markets Act 1988 and includes any re-enactment or replacement thereof.

Company means Australian Securities Exchange Limited (ABN 83 000 943 377).

Market means the derivatives market operated by the Company and conducted in accordance with the Operating Rules, known as the ASX 24 Market.

NZ Participant means a Participant who is resident or incorporated in New Zealand, or who is carrying on the business of dealing in futures contracts in New Zealand, whether or not that Participant is also carrying on business in any other jurisdiction.

Operating Rules means the rules of the Company in relation to the derivatives market operated by the Company and as amended or replaced from time to time, known as the ASX 24 Operating Rules.

Participant means Trading Participant as defined in the Operating Rules.

(2) Any term or expression that is defined in the Act and used, but not defined, in this notice has the same meaning as in the Act.

3. Authorisation – Australian Securities Exchange Limited declared an authorised futures exchange—

(1) The Company is declared to be authorised to conduct a futures market in New Zealand.

(2) The authorised futures market which the Company is authorised to conduct is the Market.