Regulatory Planning and Reporting. (1) NSX agrees to prepare and give to ASIC:
(a) on the first occasion, on or before 28 February 2001; and
(b) thereafter, on or about 31 May each year a regulatory plan addressing the manner in which NSX proposes to manage, in the financial year immediately following the submission of the regulatory plan, the Regulatory Risks.
(2) The parties agree that the regulatory plan will address the Regulatory Risks including by reference to the information being or to be maintained by NSX pursuant to paragraph 9.4. The regulatory plan will also outline the resources NSX will devote to the performance of its regulatory function in the forthcoming period and will outline the relevant experience and expertise of the senior management and compliance staff and whether the number of such key staff will increase, decrease or stay the same over the period of the plan.
(3) The plan will describe management, compliance, human resource and system capability-related contingency planning to address any anticipated increases in the number of quoted securities or volume of trading during the period of the plan.
(4) In respect of the regulatory plans referred to at paragraph 9.3(1)(b), NSX agrees to provide ASIC with an opportunity to comment on and approve the proposed regulatory plan, by providing ASIC with a proposed regulatory plan at least seven (7) weeks before the due date for the regulatory plan's submission. ASIC and NSX will use their respective best endeavours to ensure agreement is reached in respect of the regulatory plan in sufficient time to enable the plan to be submitted on or before its due date.
(5) In addition to the regulatory planning and reporting described at paragraphs 9.3(1) to (4), the parties agree that ASIC may require NSX to complete a self-assessment in a form required by ASIC, within four
