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Tuesday, 19 August 2003
Page: 18960


Mr McClelland asked the Treasurer, upon notice, on 3 June 2003:

(1) How many investigations has the Australian Securities and Investments Commission (ASIC) conducted relating to possible breaches of Part 5.8A of the Corporations Act 2001 (Cth).

(2) How many of these investigations were resolved without court action being commenced and, in each case, why was court action not commenced.

(3) How many court actions has ASIC commenced for breaches of Part 5.8A of the Corporations Act 2001 (Cth).

(4) What is the name, file number, court and current status of each such action and, if the matter is concluded, what orders were made.

(5) How many matters have been referred to ASIC by the Department of Employment and Workplace Relations relating to insolvencies and, in each matter, what concerns were identified.

(6) What was the outcome of ASIC's consideration of each of these matters.


Mr Costello (Treasurer) —The answer to the honourable member's question is as follows:

(1) ASIC advises that it is conducting two investigations relating to possible breaches of Part 5.8A.

(2) The matters referred to are still under consideration by ASIC and hence unresolved.

(3) None to date.

(4) Not applicable.

(5) ASIC advises that no matters have been referred to the agency from the Department of Employment and Workplace Relations that relate to Part 5.8A.

(6) Not applicable.