will report on its performance against key efficiency indicators in its annual report. The Charter is available on the ASIC website. 3. Recent ASX Developments 3.1 ASX markets supervision: new structure operates from 1 July 2006 On 1 July 2006, the Australian Stock Exchange (ASX) implemented the new market supervision arrangements announced in December last year, to strengthen market integrity and bring greater transparency and accountability to its supervisory operations. From 1 July 2006, all ASX's supervisory operations will be conducted by a subsidiary company: ASX Markets Supervision Pty Ltd. ASX Markets Supervision will operate under its own Charter and in line with its own principles-based approach to supervisory operations. the new structure, ASX supervisory operations will be conducted by existing Market Supervision staff reporting to the Chief Supervision Officer (CSO). The CSO position has been filled by Eric Mayne, currently ASX's Group Executive, Market Supervision. As previously announced, the CSO will report to the Board of the subsidiary company on operational supervisory matters. The new subsidiary company will be responsible for monitoring the conduct of market users and their compliance with ASX's Operating Rules, enforcing the Operating Rules and ensuring that sufficient resources are allocated to it to perform its supervisory functions. It will also have primary responsibility for monitoring the handling of conflicts between the commercial and supervisory interests of ASX. new arrangements enable ASX to reinforce the confidence of listed entities and investors, continue to address the perception of conflicts between ASX's commercial and supervisory operations, and minimise the costs of compliance for market users. ASX Limited remains the licensed operator of its markets, as required under corporations law, and continues to be subject to the conditions of those licences. In addition, the existing oversights of ASX supervision provided by the Australian Securities and Investments Commission (ASIC) and ASX Supervisory Review (ASXSR) will continue. ASX announced the decision to create a new supervisory company on 15 December 2005. Further information is available on the ASX website. 3.2 ASX developments
will report on its performance against key efficiency indicators in its annual report. The Charter is available on the ASIC website. 3. Recent ASX Developments 3.1 ASX markets supervision: new structure operates from 1 July 2006 On 1 July 2006, the Australian Stock Exchange (ASX) implemented the new market supervision arrangements announced in December last year, to strengthen market integrity and bring greater transparency and accountability to its supervisory operations. From 1 July 2006, all ASX's supervisory operations will be conducted by a subsidiary company: ASX Markets Supervision Pty Ltd. ASX Markets Supervision will operate under its own Charter and in line with its own principles-based approach to supervisory operations. the new structure, ASX supervisory operations will be conducted by existing Market Supervision staff reporting to the Chief Supervision Officer (CSO). The CSO position has been filled by Eric Mayne, currently ASX's Group Executive, Market Supervision. As previously announced, the CSO will report to the Board of the subsidiary company on operational supervisory matters. The new subsidiary company will be responsible for monitoring the conduct of market users and their compliance with ASX's Operating Rules, enforcing the Operating Rules and ensuring that sufficient resources are allocated to it to perform its supervisory functions. It will also have primary responsibility for monitoring the handling of conflicts between the commercial and supervisory interests of ASX. new arrangements enable ASX to reinforce the confidence of listed entities and investors, continue to address the perception of conflicts between ASX's commercial and supervisory operations, and minimise the costs of compliance for market users. ASX Limited remains the licensed operator of its markets, as required under corporations law, and continues to be subject to the conditions of those licences. In addition, the existing oversights of ASX supervision provided by the Australian Securities and Investments Commission (ASIC) and ASX Supervisory Review (ASXSR) will continue. ASX announced the decision to create a new supervisory company on 15 December 2005. Further information is available on the ASX website. 3.2 ASX developments
CORPORATE-LAW-ELECTRONIC-BULLETIN-July-2006.docx