The purpose of this paper has been to offer further clarity to stakeholders on the Council’s recommendation that the Regulators be given the power to set ‘graduated and proportional location requirements’. The paper has therefore set out the intended scope of such requirements and the framework within which they might be applied.
It has been acknowledged, however, that the specific measures will be the subject of further consultation by the Regulators later in the year, in the context of planned revisions to ASIC’s RG 211 and the RBA’s FSSs. These future consultations will also provide an opportunity for stakeholders to discuss with the Regulators aspects of the framework described in this paper and how it might be applied in practice.
In the meantime, the Regulators stand ready to discuss with existing CS facility licence holders and prospective CS facility licence applicants how the framework set out in this paper and the specific requirements that will be the subject of future consultation might apply in their particular circumstances.