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Schedule 1—Additional Deputy Chairperson of ASIC

Schedule 1 Additional Deputy Chairperson of ASIC

   

Australian Securities and Investments Commission Act 2001

1  Subsection 5(1) (definition of Deputy Chairperson )

Omit “the Deputy Chairperson”, substitute “a Deputy Chairperson”.

2  Section 10

Repeal the section, substitute:

10   Chairperson and Deputy Chairpersons

             (1)  The Governor-General is to appoint as Chairperson of ASIC a person who is, or is to be, a full-time member.

             (2)  The Governor-General may appoint as a Deputy Chairperson of ASIC a person who is, or is to be, a full-time member.

Note:          For the manner in which the Chairperson and a Deputy Chairperson may be referred to, see section 18B of the Acts Interpretation Act 1901 .

             (3)  Not more than 2 persons may hold office as Deputy Chairperson at any one time.

3  Subsections 106(2) and (3)

Repeal the subsections, substitute:

             (2)  In the absence of the Chairperson from a meeting:

                     (a)  if there are 2 Deputy Chairpersons available to preside at the meeting—the Chairperson may nominate one of them to preside at the meeting; or

                     (b)  if there is only one Deputy Chairperson available to preside at the meeting—that Deputy Chairperson is to preside at the meeting.

             (3)  If neither the Chairperson nor any Deputy Chairperson is present at a meeting, the members present must elect one of their number to preside.

4  Subsection 109(1)

Omit “Chairperson or Deputy Chairperson holds”, substitute “Chairperson, or as a Deputy Chairperson, holds”.

5  Paragraph 109(1)(c)

Omit “as Deputy Chairperson”, substitute “as a Deputy Chairperson”.

6  Section 110

Omit “as Deputy Chairperson”, substitute “as a Deputy Chairperson”.

7  Paragraph 116(1)(c)

Omit “or the Deputy Chairperson) or a part-time member, as the case may be, is absent from office, is acting as Deputy Chairperson”, substitute “or a Deputy Chairperson) or a part-time member, as the case may be, is absent from office, is acting as a Deputy Chairperson”.

8  Section 118

Repeal the section, substitute:

118   Acting Deputy Chairperson

                   The Minister may appoint a member to act as a Deputy Chairperson:

                     (a)  during a period when there are fewer than 2 persons holding the office of Deputy Chairperson; or

                     (b)  during a period when a Deputy Chairperson is absent from office or is acting as Chairperson.

9  In the appropriate position

Insert:

Part 26 Transitional provisions relating to the Treasury Laws Amendment (ASIC Governance) Act 2018

   

315   Saving of appointments

             (1)  The Treasury Laws Amendment (ASIC Governance) Act 2018 does not affect an appointment of the Chairperson, a Deputy Chairperson or a member under this Act.

             (2)  Subsection (1) does not prevent the termination of an appointment.

Foreign Evidence Act 1994

10  Subsection 35(1)

Omit “the Deputy Chairperson”, substitute “a Deputy Chairperson”.

(62/18)