##### 12D  Meaning of critical financial market infrastructure asset - \(1\) An asset is a critical financial market infrastructure asset if it is any of the following assets: - \(a\) an asset that: - \(i\) is owned or operated by an Australian body corporate that holds an Australian market licence; and - \(ii\) is used in connection with the operation of a financial market that, in accordance with subsection \(2\), is critical to the security and reliability of the financial services and markets sector; - \(b\) an asset that: - \(i\) is owned or operated by an associated entity of an Australian body corporate that holds an Australian market licence; and - \(ii\) is used in connection with the operation of a financial market that, in accordance with subsection \(2\), is critical to the security and reliability of the financial services and markets sector; - \(c\) an asset that: - \(i\) is owned or operated by an Australian body corporate that holds an Australian CS facility licence; and - \(ii\) is used in connection with the operation of a clearing and settlement facility that, in accordance with subsection \(3\), is critical to the security and reliability of the financial services and markets sector; - \(d\) an asset that: - \(i\) is owned or operated by an associated entity of an Australian body corporate that holds an Australian CS facility licence; and - \(ii\) is used in connection with the operation of a clearing and settlement facility that, in accordance with subsection \(3\), is critical to the security and reliability of the financial services and markets sector; - \(e\) an asset that: - \(i\) is owned or operated by an Australian body corporate that holds a benchmark administrator licence; and - \(ii\) is used in connection with the administration of a significant financial benchmark that, in accordance with subsection \(4\), is critical to the security and reliability of the financial services and markets sector; - \(f\) an asset that: - \(i\) is owned or operated by an associated entity of an Australian body corporate that holds a benchmark administrator licence; and - \(ii\) is used in connection with the administration of a significant financial benchmark that, in accordance with subsection \(4\), is critical to the security and reliability of the financial services and markets sector; - \(g\) an asset that: - \(i\) is owned or operated by an Australian body corporate that holds an Australian derivative trade repository licence; and - \(ii\) is used in connection with the operation of a derivative trade repository that, in accordance with subsection \(5\), is critical to the security and reliability of the financial services and markets sector; - \(h\) an asset that: - \(i\) is owned or operated by an associated entity of an Australian body corporate that holds an Australian derivative trade repository licence; and - \(ii\) is used in connection with the operation of a derivative trade repository that, in accordance with subsection \(5\), is critical to the security and reliability of the financial services and markets sector; - \(i\) an asset that is used in connection with the operation of a payment system that, in accordance with subsection \(6\), is critical to the security and reliability of the financial services and markets sector\. Note: The rules may prescribe that a specified critical financial market infrastructure asset is not a critical infrastructure asset \(see section 9\)\. - \(2\) For the purposes of paragraphs \(1\)\(a\) and \(b\), the rules may prescribe: - \(a\) specified financial markets that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a financial market to be critical to the security and reliability of the financial services and markets sector\. - \(3\) For the purposes of paragraphs \(1\)\(c\) and \(d\), the rules may prescribe: - \(a\) specified clearing and settlement facilities that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a clearing and settlement facility to be critical to the security and reliability of the financial services and markets sector\. - \(4\) For the purposes of paragraphs \(1\)\(e\) and \(f\), the rules may prescribe: - \(a\) specified significant financial benchmarks that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a significant financial benchmark to be critical to the security and reliability of the financial services and markets sector\. - \(5\) For the purposes of paragraphs \(1\)\(g\) and \(h\), the rules may prescribe: - \(a\) specified derivative trade repositories that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a derivative trade repository to be critical to the security and reliability of the financial services and markets sector\. - \(6\) For the purposes of paragraph \(1\)\(i\), the rules may prescribe: - \(a\) specified payment systems that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a payment system to be critical to the security and reliability of the financial services and markets sector\. - \(7\) For the purposes of this section, Australian body corporate means a body corporate that is incorporated in Australia\. --- ## Source and attribution Saved copy: C2018A00029 / C2026C00213 / f578e546a17068939a3a5a928474713f844dfae8 Scope: navPoint\_27 Compiled 2026\-06\-04\. This does not establish legal commencement\. Official source: https://www\.legislation\.gov\.au/C2018A00029/2026\-06\-04/2026\-06\-04/text/1/epub/OEBPS/document\_1/document\_1\.html Licence: https://creativecommons\.org/licenses/by/4\.0/ Based on content from the Federal Register of Legislation at 1 October 2026\. For the latest information on Australian Government legislation please go to https://www\.legislation\.gov\.au\. Converted XHTML into Tiptap JSON; recovered lists from paragraph classes; kept literal labels and text\. Print layout is changed\. The Commonwealth Coat of Arms is not covered by the CC BY licence\.