123ZL. General obligations
Feedback & supportLast amended by an amending law of 2017.
Every authorised benchmark submitter, exempt benchmark submitter and designated benchmark submitter must, in relation to the designated benchmark in respect of which it provides information —
manage any risks associated with its business and operations prudently;
ensure that the systems and controls concerning its performing the activity of providing information in relation to a designated benchmark are adequate and appropriate for the scale and nature of its operations;
have sufficient financial, human and system resources —
to carry on a business or activity of providing information in relation to a designated benchmark; and
to meet contingencies or disasters; and
in the case of an authorised benchmark submitter or a designated benchmark submitter, ensure that it appoints or employs fit and proper persons as its chairperson, chief executive officer, directors and key management officers.
In subsection (1)(c), “contingencies or disasters” includes technical disruptions occurring within automated systems.