Guide to Australian financial market infrastructure licensing

Financial market infrastructure comprises entities that enable trading, post-trade processing and important financial data services to operate. A financial market licence is for a trading venue; a clearing and settlement facility licence is for a system that completes transactions and manages post-trade risk; a derivative trade repository licence is for receiving and maintaining statutory derivative reports; and a benchmark administration licence is for administering designated financial benchmarks. These are not four ordinary authorisation options under a single AFSL.ASIC infrastructure overview

Before applying, map the complete flow of orders, transactions, funds, securities and data, and identify the responsibilities of operators and participants. Being only a transaction participant, providing only outsourced software or reporting data only to a repository does not, by itself, make an entity an infrastructure operator. However, arranging transactions between multiple parties or actually performing an infrastructure operating function cannot be exempted from licensing merely by describing the business as a technology platform. Where advice, transaction or custody services are also provided, financial services licensing and other applicable laws should be checked separately.Chapter 7 of the current Corporations Act

• Trading venue: review Part 7.2, market definitions, operating arrangements and licensing conditions.
• Post-trade clearing or settlement: review Part 7.3 and distinguish between CCP and SSF.
• Receipt of statutory derivatives transaction reports: review Part 7.5A and the ADTR rules.
• Generation and administration of financial benchmarks: examine Part 7.5B and significant benchmark declarations.
• Multiple business activities: establish the licensing boundaries for each activity; one licence cannot be treated as a passport for all business activities.

The 2024 reforms shifted ordinary licensing and related powers for financial markets and clearing and settlement facilities to ASIC. The current s795B and s824B(1), (2) expressly provide that ASIC decides ordinary licensing; it is no longer accurate to describe a generic process of assessment by ASIC followed by final approval by the Commonwealth Minister. Data repository and benchmark administrators are also licensed and supervised by ASIC.Current licensing provisions

ASIC focuses its supervision on fair, orderly and transparent markets, fair and effective CS services, and the protection of investors and facility users. RBA is responsible for developing and enforcing CS financial stability standards and overseeing systemic risk, and has crisis resolution powers over domestic CS facilities. The February 2026 guidance from RBA clarifies that ASIC is responsible for standard CS licensing and exemptions; RBA is not a separate CS licensing authority that replaces ASIC.RBA Resolution framework

The reforms do not remove all ministerial functions. Current s824B(3) retains a special ministerial mechanism for granting a CS licence to a successor body in a statutory transfer during crisis resolution. Special provisions also apply to matters involving more than 20% of voting rights in a widely held market body, and to certain rule-consent or direction functions. Normal applications must be distinguished from these exceptions; the exceptions should not be misrepresented as meaning that all licences are approved by the Minister.

• Standard financial markets licence: ASIC.
• Standard CS facility licensing and exemptions: ASIC, considered alongside RBA guidance and stability standards.
• ADTR licence and benchmark administrator licence: ASIC.
• CS Standards for stability and domestic crisis management: RBA.
• Special ministerial functions: address these only under the specific statutory provisions; do not continue to use the former delegation process that has been superseded by reforms.

Financial markets should be distinguished by whether they are exchanges or other significant trading venues, markets with limited functions or lower risk, or overseas markets seeking access to Australia. Tier 1 and Tier 2 under RG172 are regulatory tiers based on market characteristics, not cheaper and more expensive licences that can be freely selected; Tier 2 must still meet the applicable statutory obligations. The overseas pathway requires existing home-country authorisation, sufficiently equivalent supervision and cooperation arrangements; an overseas licence does not provide automatic access.RG172

CS facilities must be distinguished between central counterparties CCP and securities settlement facilities SSF. The former typically becomes the buyer to every seller and the seller to every buyer through novation; the latter deals with the transfer of securities interests and the delivery of corresponding funds, and may include a central securities depository function. An overseas facility may be brought within the licensing regime if it has a significant connection with Australia, even without an Australian head office. Euroclear’s 2026 transition arrangements are specific to that case and must not be promoted as a licence already granted or as a grace period available to all overseas facilities.ASIC overseas facilities examples

ADTR licence conditions are defined by the relevant data repository and derivatives asset classes. For financial benchmarks, first check whether ASIC has declared the benchmark significant. Other benchmarks may apply voluntarily, but ordinary index publishers are not all required to hold a licence. The four pathways below each set out the business and resource evidence to be submitted.

• Markets: domestic Tier 1, domestic Tier 2 and s795B(2) overseas pathway.
• CS: CCP, SSF and the overseas pathway under s824B(2).
• ADTR: domestic or overseas operations, and the derivatives classes specified on the licence.
• Benchmarks: significant benchmarks, other voluntarily licensed benchmarks and overseas regulatory reliance pathways.

Appropriate authorisations can establish a clear and lawful scope of operations, support participant admission, business rules and contractual arrangements, and give trading, clearing and settlement, or data users an identifiable accountable entity. A market licence enables the organisation of trading; a CS licence enables transaction performance and risk management; an ADTR licence enables the receipt of statutory reports and regulatory data services; a benchmark licence enables the supervision of methodologies, governance and benchmark publication.

Authorisation does not mean that ASIC or RBA endorses investment returns; nor is it a government guarantee, banking licence or global service certification. Promotional material should use only the actual licensed entity, licence name, scope of authorisation and current conditions. An application in progress, temporary exemption, reliance on overseas regulation and formal licensing must be distinguished. The brand website must not use another licensed institution’s name or number in a way that leads users to believe that the brand itself has been approved.ASIC Regulatory guidance updates notice

• Can be verified: the actual licensed legal entity, authorised facilities or benchmarks, applicable products and conditions.
• Do not promise: guaranteed approval, guaranteed returns, government backing or global applicability.
• Public-facing description of the application project: clearly identify it as an application or preparation, not as already licensed.

The application should identify the ultimate control chain and any associated voting rights, rather than submitting only a list of direct shareholders. Relevant key persons include directors, secretaries, those who make decisions about all or a substantial part of the business, those able to significantly affect its financial position, and shadow directors. Current guidance requires reasonable steps to ensure their fitness and propriety, competence, integrity and management of conflicts of interest, and excludes disqualified persons or those restricted by an FMI prohibition order. This requirement cannot be met merely by appointing a nominal compliance officer.RG172 Key personnel requirements

Australian company-structure requirements and licence requirements must be met separately. An ordinary Pty Ltd must have at least one director who ordinarily resides in Australia; a secretary is optional. A public company must have at least three directors, at least two of whom ordinarily reside in Australia, and at least one secretary who ordinarily resides in Australia. Crowdfunding companies and others have additional requirements. An affected director must personally apply for a director ID before appointment; an agent cannot complete the identity application on the director’s behalf.ASIC company personnel rules ABRS director ID

The business team should demonstrate coverage according to actual functions: markets require trading and supervision capability; CCP requires capability in margin, default management and liquidity risk; SSF requires capability in settlement finality and asset records; ADTR requires capability in reporting data, information security and regulatory interfaces; benchmarks require capability in methodology design, data review and independent oversight. Suitable outsourcing may be used, but the licensee must retain oversight capability. No uniform statutory number of compliance personnel, fixed years of experience or requirement for every category to appoint a AFSL-style Responsible Manager has been verified, and no such assurance is given.

• Shareholder materials: shareholding and voting rights diagram, related parties, proposed shareholding percentages and explanation of the source of funds.
• Key personnel materials: identity, address, work history, role description, disqualification and prohibition checks, and conflict of interest declaration.
• Governance materials: board delegations, committee responsibilities, compliance reporting lines and backup arrangements.
• Appointment materials: written consent, applicable director ID, and change notifications at company and licence level.

An Australian company’s registered office must be a physical street address in Australia, not a post office box; a third-party office, such as an accountant’s, may be used, but records of consent must be retained. The principal place of business must also reflect the genuine principal operating location and cannot be a PO Box. The registered office may differ from the place of business; this does not mean that merely purchasing a mail-forwarding service provides operational resources.ASIC Company address rules

An application for a facility should explain where management, operations, servers, data processing, backup and outsourcing are located, and how the regulator can access the premises and obtain books or data. A foreign body corporate must comply with applicable foreign company registration requirements; before the principal place of business of an overseas CS or market is moved to another country, ASIC approval must be obtained where applicable. ASIC may, on a case-by-case basis, require ADTR to establish local operational resources or provide an undertaking to submit to the jurisdiction of Australian courts. Do not invent uniform requirements for office size, Australian data centres or all staff to be based locally.RG249 Cross-border conditions

• Specify the registered office, principal place of business and actual addresses of each key site.
• Provide evidence of a lease or right to use the premises; third-party registered addresses require written consent.
• Specify the jurisdictions in which the main system, backup sites, cloud services and outsourced functions are located.
• Provide legal and technical arrangements for regulatory access, cross-border data and recovery services.

Minimum registered or paid-up share capital is a company capital concept; net assets are assets less liabilities; NTA generally also requires intangible assets to be deducted; net liquid assets emphasise resources that can be used to pay expenses promptly. Infrastructure financial requirements should be modelled directly against the applicable laws, rules and licence conditions. A particular NTA threshold for ordinary AFSL must not be transplanted to these facilities, nor should licence fees be counted as regulatory capital.

The current market RG172.68–74 sets adequate resources as the principle, generally covering at least six months of market operating costs and taking account of outsourcing, group dependencies and orderly exit. ADTR Rule 2.4.7 expressly requires holding equity-backed net assets covering at least six months of current operating expenses, calculated on a rolling basis at each month-end. Benchmark administrator Rule 2.1.7 allows resources for at least six months to be held or obtained through a legally certain means; this differs from the wording of the ADTR requirement to hold net assets.RG172 Current ADTR rules RG268

The CCP and SSF under the RBA standards require high-quality liquid net assets supported by equity, covering at least six months of current operating expenses and adequately supporting recovery or orderly exit. In principle, these resources are separate from those required for participant default, credit and liquidity risks. Ordinary borrowing or group support that cannot be realised promptly cannot be treated directly as equity-supported liquid net assets; use of resources from related entities requires demonstrated legal certainty and compliance with regulatory requirements.CCP Standard 14 SSF Standard 12

• List separately: paid-up share capital, reserves and retained earnings, net assets, intangible assets, NTA and available liquid assets.
• The budget covers operational staff, key systems, outsourcing, compliance, audit and exit costs.
• Stress scenarios: insufficient revenue, loss of major users, system incidents, outsourcing disruption and one-off losses.
• Supporting documents: financial statements, cash flow forecasts, evidence of available funds and a board-approved capital injection plan.

The application should be considered by the governing body and provide complete evidence of the business, resources and compliance in English; foreign-language materials require an appropriate English translation. For financial markets, submit under s795A and the applicable regulations; for CS, submit under s824A and applicable domestic or overseas regulations; for ADTR, under s905B; and for benchmarks, under s908BD. A company registration certificate, website and evidence of capital cannot replace a complete application package for a facility.RG172 Application section RG249 Application section

Key documents need to cover how the rules are implemented, not just written policies. A market should have evidence of order and trading rules, transparency and participant oversight; CS should have legal analysis of settlement finality, a margin or settlement risk framework and a recovery plan; ADTR should have a data dictionary, report validation, retention and regulatory data-access arrangements; benchmarks should have methodology, data priorities, discretion and correction procedures. ASIC may require specific independent verification, and the related costs should be included in the budget; do not misrepresent commercial certifications such as ISO certificates as a uniform statutory threshold for all applications.

• Company information: constitution, registration, organisational and shareholding chains, personnel and board declarations.
• Commercial information: actual users, products, fees, processes, forecast business volumes and commercial sustainability.
• Rulebook contracts: operating rules, access, discipline, and contracts with users and key service providers.
• Evidence of resources: financial model, personnel roles, system architecture, disaster recovery and test results.
• Compliance evidence: risk and conflict management, monitoring, reporting, complaints and record-keeping.
• Overseas materials: home-country authorisation, equivalence analysis, regulatory cooperation and legal enforceability.

First discuss the functional scope, domestic or offshore pathway and application documents with ASIC; coordinate the CS project with RBA at an early stage. Then put the legal entity, funding, key personnel and systems in place, and prepare an English-language application addressing each statutory obligation. Before submission, confirm the current forms, submission channel and fees; do not treat contact or ministerial recommendation processes in an old application pack as a current guarantee.RG249 Application guide

ASIC's assessment will include supplementary questions and a review of resources and rules, and, where necessary, public consultation, communication with overseas regulators or independent verification. Stability and systemic risk matters relating to CS also involve RBA. Approval for relevant shareholders holding more than 20% should be handled separately; even if assessed alongside the licence application, it should not be assumed that obtaining a licence automatically means all shareholders have been approved. After approval, pre-commencement conditions must be implemented item by item, and user testing and operational preparations completed before business begins within the approved scope.

• Step 1: Define business functions and the boundaries of licensing and exemptions, and identify pre-application questions.
• Step 2: Establish the legal entity and control structure, and secure the required personnel, resources and contracts.
• Step 3: Approve the English application pack, submit it to ASIC and address any separate change-of-control matters.
• Step 4: Respond to ASIC and any applicable RBA review, and complete testing, verification or consultation.
• Step 5: Review the written licence and its conditions, and commence operations once the entry requirements have been met.
• Step 6: Establish regulatory reporting, capital monitoring and ongoing change-management arrangements.

At present, no uniform approval timeframe can be given for the four new licence types. The current statutory 42-day condition for repositories and benchmarks is the minimum waiting period to avoid granting a licence during the relevant persons’ assessment period; it does not mean the assessment will be completed in 42 days, and it should not be transposed as the same timeframe for market or CS projects. Complex technology, overseas collaboration or public consultation can affect the timeframe.RG249 RG268

RG211's former 12–16-week description is an old-regime reference to ASIC and RBA assessment and provision of advice to the Minister. In September 2026, ASIC explicitly stated that RG211 remains pending reform updates, so this must not be presented as a current licensing commitment. Commercial preparation and review for a new licence should be scheduled separately; the commercial timeframes stated are only project-budget assumptions for this guide.ASIC Update information

On 30 October 2026, ASIC published CS69, proposing further clarification of the forms of market financial resources, stress testing and monitoring reports. As at the verification date, this remains a consultation, not a new capital formula in force. The official announcement specifies a consultation deadline of 5 pm on 4 December 2026 AEDT; do not rely on the 30 November date in some commercial reports, or present new wording in the draft as already in force.ASIC Financial resources consultancy

• Show separately: preparation time, regulatory review time and time to launch after approval.
• 42 days: statutory conditions before ADTR and benchmark licences are granted; not a service target.
• 90 days plus up to 30 days: a statutory mechanism for certain change-of-control applications, not a new licence application timeframe.
• Commercial assumptions: market—6–18 months; CS—12–24 months or longer; ADTR—6–12 months; baseline—4–9 months. These must be reassessed for each project.

The specified sources from ASIC also mention crossing systems, equity market data, block trade tiers, dark liquidity and high-frequency trading. These are market structure and supervision issues and must not be mechanically treated as five separate infrastructure licences. When using matching, crossing, dark pools or innovative trading protocols, reassess whether the activity constitutes a financial market, as well as the transparency, data, volatility control and participant obligations under applicable market integrity rules.ASIC market structure portal

RG172 requires market technology resources to be appropriate to the scale of the business and capable of operating under stress. Significant functional changes should undergo functional, connectivity, consistency and regression testing, and affected users should have an opportunity to test them. Market data sales and data consolidation must not undermine fair access or applicable pre- and post-trade transparency. Specific block-trade exemptions and thresholds must be confirmed separately for the relevant product and current rules; this guide does not invent a fixed tiered amount applicable to all markets.RG172 Technology and market integrity rules

• Check before innovating: matching logic, acceptable orders, disclosures and licence scope.
• Market data governance: data integrity, clocks, regulatory data flows and reasonable access conditions.
• Algorithmic or high-frequency business: capacity, stress testing, abnormal orders and trading controls.
• Rule changes: distinguish changes to operating rules, systems and procedures, and the scope of a licence.

For the four categories of FMI licensees that are registered in Australia and are not widely held market bodies, and their Australian-registered holding companies, more than 20% of voting power generally requires prior approval from ASIC. Exceeding an existing approval limit also requires the matter to be dealt with again. Voting power includes associates and indirect interests, and a single acquisition may trigger requirements for multiple entities. Make approval a condition of transaction completion rather than relying on a post-completion company shareholder change notification.Company law s852DA—852DR

ASIC’s legitimate-control test considers whether the proposed holding of voting rights could reasonably be expected to prejudice the licensee’s ability to perform its obligations. There is generally a statutory decision period of 90 days, which may be extended by up to 30 days; requests for information and incorrect information may affect the timing, and the statutory timeframe mechanism may not apply where there is a control situation that is not accepted. It must not be promoted as automatic approval within 90 days. Special arrangements, such as a widely held market body and ASX, require separate legal analysis.

ADTR Rule 2.6.3 also applies: when aware that someone has acquired or ceased to hold more than 15% of the total voting rights in an operator or holding company, notice must be given to ASIC as soon as possible. The 15% notification and the 20% prior approval for an Australian-incorporated non-widely held FMI are different regimes. A share acquisition generally leaves the original licensed legal entity in place. When systems, customers or facility assets are purchased, or the operator is replaced, it cannot be assumed that the licence automatically transfers with the assets; confirm the requirements for a new licence, changes and transitional arrangements.Current ADTR rules

• Due diligence: licences and conditions, regulatory correspondence, capital, incidents, rules and key contracts.
• Control analysis: direct and indirect voting rights, associates, ownership tiers and approved limits.
• Transaction conditions: regulatory approval, continued retention of personnel, capital replenishment and systems migration arrangements.
• Completion maintenance: company details, key personnel, applicable 15% notifications under ADTR and licence changes.
• Overseas acquisitions: separately check home-country approval, Australian notification, regulatory reliance and licence conditions; do not apply domestic control definitions without adjustment.

After obtaining a licence, you must continue to demonstrate ongoing compliance in relation to capital, personnel, systems and operating rules. Markets must provide annual reports in accordance with s792F and applicable conditions, and comply with ASIC assessment and regulatory data requirements; CS must provide applicable ASIC and RBA reports, self-assessments against stability standards and resource information. Reporting frequency should be determined by reference to the law, rules and actual licence conditions; it must not be stated uniformly as annual licence renewal or quarterly reporting by all.RG172 Ongoing supervision RBA Stability standards

ADTR Rule 2.6.1 generally requires an annual written compliance report to be submitted to ASIC within three months after the end of the financial year, unless a written exemption applies, together with an audit report as required. Transaction records and corrections must be retained under Rule 2.3.2 until five years after the relevant derivative expires or is terminated. General compliance records must be retained under Rule 2.7.1 for at least five years from when they are created or amended; any longer applicable obligation takes precedence. This cannot simply be described as a uniform seven-year retention period for all financial data.Current ADTR rules

A benchmark administrator must retain evidence for each data generation, including the data, methodology, individuals exercising discretion, corrections, reviews and complaints, and must regularly audit and test governance, conflict arrangements and methodology. ASIC has statutory compulsory powers in relation to significant benchmarks, including requiring continued generation or submission of data; cessation of publication should not be treated as termination of an ordinary commercial contract.RG268

• Maintain a compliance calendar covering annual reporting, resource monitoring, personnel reviews, system exercises and rule reviews.
• Retain evidence: test results, remediation of defects, board decisions and capital calculation working papers.
• Regulatory access: books, transaction and data interfaces, entry to premises and verification by appointed experts.
• Provide data to ASIC, RBA and other bodies with statutory powers as required, safeguarding confidentiality and authorisation controls.

Outsourcing contracts must cover service levels, regulatory access to information, audit or inspection, incident notification, data protection, backup arrangements and exit. A licensee cannot transfer statutory responsibilities to a supplier merely because the supplier handles matching, clearing calculations, data storage or benchmark calculations. The team must be capable of understanding and overseeing critical outsourcing, and must regularly check actual funding and technical dependencies on related-group services.RG172 RG268

Incident reporting is governed by separate rules. For failure or likely failure of CS stability standards or resolvability standards, and related systemic risk matters, current s821BA requires immediate written notification to RBA; other matters are handled under s821B and other rules, with attention to the rule against duplicate reporting where RBA has already been notified. For ADTR system outages or data integrity, security and confidentiality incidents, notify ASIC as soon as practicable and submit a report on the cause, impact and remediation within 14 days of the incident. The AFSL reporting period must not be mechanically applied to all infrastructure incidents.Current Corporations Act ADTR incident rules

• Incident categories: outages, data breaches or corruption, settlement failures, insufficient resources and non-compliant transactions.
• Contingency arrangements: responsible personnel, internal escalation, regulatory liaison, user notification and recovery pathways.
• Supplier management: key contracts, access permissions, service verification and portable data formats.
• Close the remediation loop through root-cause analysis, remediation, regression testing and board oversight.

When adding trading products, participant categories, clearing business, derivatives asset classes or benchmarks, do not merely update the website. First confirm whether the existing authorisation covers them, then assess any licence or condition changes, operating rules submissions and testing obligations. ASIC has formal oversight powers over changes to listing, trading and post-trade rules. The specific legal mechanism may involve notification, review, non-approval or directions; it is inappropriate to describe every minor procedural update as requiring a new licence.ASIC specified sources RG172

A significant change to a benchmark methodology must be notified to ASIC in reasonable time beforehand, and users must be consulted and notified reasonably; BBSW has requirements for a final-stage methodology when the normal methodology fails. Changes to directors, secretaries, senior officers and controllers must each comply with company registration and facility notification rules; do not wait solely for the annual company review. Moving the principal place of business overseas to another country may also require prior approval from ASIC.RG268 Method changes

• Before the change: assess business scope, regulatory conditions, rules and user impact.
• During the change: obtain any required approval or give notice, conduct joint user testing, migrate data and communicate.
• After the change: verify operations and update compliance documents and resource budgets.
• ADTR New asset class: first apply to vary the ASIC licence; technical capability to accept the asset is not a substitute for authorisation.

While operating normally, a facility should determine recovery tools and an orderly exit plan, and have funds that are actually available. Market exit arrangements should address incomplete transactions and participant migration; ADTR exit arrangements should address data retention, regulatory access and transfer of reporting; and benchmark exit arrangements should address existing contracts referencing the benchmark, replacement benchmarks and the timing of announcements. Clearing and settlement facilities must also consider unsettled obligations, participant defaults and systemic effects.RG249 RG268 Exit regime

RBA Statutory resolution of domestic CS facilities may include directions, statutory management and the transfer of business or ownership. The regime addresses threats to continuity of critical services and financial stability; it does not guarantee value to shareholders. Nor is RBA guidance a commitment to a future resolution pathway. Acquisition due diligence and capital planning should take account of recovery, resolution and funding replenishment, rather than assume that a licence prevents business failure.RBA 2026 Resolution guidance

• Funding plan: costs required for recovery, migration, system shutdown and ongoing data access.
• Service options: alternative operators, user migration, unfinished transactions and contractual arrangements.
• Regulatory arrangements: discuss early, provide formal notice, and follow applicable variation or cancellation procedures.
• Benchmark announcement: announced after discussion with ASIC, allowing existing contracts time for an orderly transition.

The budget should separately list service fees for licence applications or variations, ASIC industry levies, annual company review fees, and the costs of professional advice, independent verification, system development, personnel and premises. Fees are not capital, and paying an application fee does not mean the application will be approved. ASIC lists estimated industry levies each year at CRIS. As at the verification date, the 2025–26 amounts remain estimates. Final notices are expected to be issued in January–March 2027; estimates must not be treated as fixed quotes for all applicants.ASIC Cost recovery statement

A licensed entity should also maintain its company registration, registered address, director and secretary details, financial records and applicable company reports. ASIC’s company webpage requires notification of most changes to company details within 28 days, but infrastructure legislation may require earlier notification as soon as practicable or immediately; both requirements should be checked in parallel. Overseas registration, local regulatory authorisations and cooperation arrangements must also remain in force.ASIC company personnel maintenance

• Application budget: confirm current government service fees according to the actual facility, pathway and workload.
• Annual budget: list levies, audits, compliance, resource buffers and technology maintenance separately.
• Company maintenance: annual review, address, personnel, shareholders and applicable financial documents.
• Overseas maintenance: home-country authorisation, Australian foreign company registration and regulatory cooperation.

This guide is for afsl8.com and introduces business suitability for infrastructure licensing, preparation of materials, project scheduling, acquisition due diligence and ongoing maintenance. Project discussions may cover licence boundaries, preparation of materials and cross-border coordination; specific legal advice, audits, system verification and regulatory applications must be undertaken by appropriately qualified professionals and the applicant body corporate. Unverified future legislation is not treated as a current obligation.

Byline: Drew Tang (Mr Tang/Drew), Business Manager; Rengangyongsheng (Hong Kong) Limited; English name: Rengangyongsheng (Hong Kong) Limited. The byline indicates responsibility for commercial service content. It does not mean that the author, company or afsl8.com has been certified or approved by ASIC or RBA, or holds any underlying infrastructure licence.

Information verified as at 5 November 2026. This is general business information and is not legal advice for any particular facility, product, legal entity or transaction structure. Before applying or transacting, check the current law, regulatory guidance, formal licence conditions and official fees again; regulatory assessments and approvals are determined by the actual written decision. The full text of designated ASIC sources and supplementary verification evidence is also retained in infrastructure-source.md.

• Service discussions: business feasibility, licensing pathways, document checklists, acquisitions and ongoing compliance coordination.
• Make no promises of guaranteed licensing, fixed capital requirements applicable to every project, fixed approval timeframes or official certification.
• Factual updates: current law takes precedence; superseded guidance and consultation drafts are clearly labelled.

Complete guides to each subtype

The following are branches covering business activities, products or corporate structures; not every item corresponds to a separate statutory licence.

Frequently Asked Questions