Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Australian Securities and Investments Commission Bill 2001

Part 15 Miscellaneous

   

243B   Offences committed partly in and partly out of the jurisdiction

                   Where:

                     (a)  a person does or omits to do an act outside Australia; and

                     (b)  if that person had done or omitted to do that act in Australia, the person would, by reason of also having done or omitted to do an act in Australia, have been guilty of an offence against this Act;

the person is guilty of that offence.

243D   Financial transaction reports

                   Neither subsection 16(5A) nor (5AA) of the Financial Transactions Reports Act 1988 prohibits a cash dealer from communicating or disclosing a fact or information referred to in either of those subsections:

                     (a)  to the Australian Stock Exchange Limited; or

                     (b)  to ASIC; or

                     (c)  to a body corporate approved under section 769 of the Corporations Act as a stock exchange; or

                     (d)  to a body corporate approved under section 770 of the Corporations Act as an approved securities organisation; or

                     (e)  in accordance with conditions imposed by the Minister when approving under section 770A of the Corporations Act a stock market for electronic trading of interests in a registered scheme; or

                      (f)  in accordance with conditions imposed by the Minister when declaring a specified stock market to be an exempt stock market under section 771 of the Corporations Act; or

                     (g)  to a body corporate approved under section 779B of the Corporations Act as a securities clearing house; or

                     (h)  to a body corporate approved under section 1126 of the Corporations Act as a futures exchange; or

                      (i)  in accordance with conditions imposed by the Minister when declaring a specified futures market to be an exempt futures market under section 1127 of the Corporations Act; or

                      (j)  to a body corporate approved under section 1131 of the Corporations Act as a clearing house for a futures exchange; or

                     (k)  to a body corporate approved under section 1132 of the Corporations Act as a futures association.

244   Review by Administrative Appeals Tribunal of certain decisions

             (1)  In this section:

decision has the same meaning as in the Administrative Appeals Tribunal Act 1975 .

             (2)  Applications may be made to the Administrative Appeals Tribunal for review of a decision by ASIC:

                     (a)  to make an order under section 72, 73 or 74; or

                     (b)  to make an order under subsection 75(1) varying an order in force under Division 8 of Part 3; or

                     (c)  to refuse to vary or revoke an order in force under Division 8 of Part 3.

244A   Notice of reviewable decision and review rights

             (1)  This section applies if ASIC makes a decision to which subsection 244(2) applies.

             (2)  Subject to subsection (3), ASIC must take such steps as are reasonable in the circumstances to give to each person whose interests are affected by the decision notice, in writing or otherwise:

                     (a)  of the making of the decision; and

                     (b)  of the person’s right to have the decision reviewed by the Administrative Appeals Tribunal.

             (3)  Subsection (2) does not require ASIC to give notice to a person affected by the decision, or to the persons in a class of persons affected by the decision, if ASIC determines that giving notice to the person or persons is not warranted, having regard to:

                     (a)  the cost of giving notice to the person or persons; and

                     (b)  the way in which the interests of the person or persons are affected by the decision.

             (4)  A failure to comply with this section does not affect the validity of the decision.

             (5)  The fact that a person has not been given notice of the decision because of a determination under subsection (3) constitutes special circumstances for the purposes of subsection 29(6) of the Administrative Appeals Tribunal Act 1975 .

245   Validity of certain actions

                   Nothing done by or in relation to a person who has been appointed to, or appointed to act in, an office under this Act is invalid on the ground that:

                     (a)  the occasion for the appointment had not arisen; or

                     (b)  there was a defect or irregularity in connection with the appointment; or

                     (c)  the appointment had ceased to have effect; or

                     (d)  the occasion for the person to act had not arisen or had ceased.

246   Liability for damages

                   None of the following:

                    (aa)  the Minister;

                     (a)  ASIC;

                     (b)  CASAC;

                     (c)  a member of ASIC;

                     (d)  a member of CASAC;

                     (e)  a member of the Panel;

                      (f)  a person appointed for the purposes of this Act or a prescribed law of the Commonwealth, a State or a Territory;

                     (g)  a staff member or a person who is, or is a member of, an ASIC delegate or is authorised to perform or exercise a function or power of, or on behalf of, ASIC;

                     (h)  a member of the staff referred to in subsection 156(1), a person employed under subsection 156(3), a person engaged under subsection 157(1) or any of the officers, employees and persons who under section 158 are to assist CASAC;

is liable to an action or other proceeding for damages for or in relation to an act done or omitted in good faith in performance or purported performance of any function, or in exercise or purported exercise of any power, conferred or expressed to be conferred by or under the corporations legislation, or a prescribed law of the Commonwealth, a State or a Territory.

247   Duplicate seals

             (1)  As well as ASIC’s common seal, there are to be such duplicates of that seal as ASIC directs.

             (2)  A document to which a duplicate seal of ASIC is affixed is taken to have ASIC’s common seal affixed to it.

248   Judicial notice of ASIC’s seal and members’ signatures

             (1)  A court must take judicial notice of ASIC’s common seal affixed to a document and, unless the contrary is established, must presume that it was duly affixed.

             (2)  A court must take judicial notice of:

                     (a)  the official signature of a person who holds or has held, or is acting or has acted in, the office of member, Chairperson or Deputy Chairperson; and

                     (b)  the fact that the person holds or has held, or is acting or has acted in, that office;

if a signature purporting to be the person’s signature appears on an official document.

             (3)  In this section:

                     (a)  court includes a tribunal; and

                     (b)  a reference, in relation to a tribunal, to taking judicial notice is a reference to taking the same notice as would be taken by a court.

251   The regulations

             (1)  The Governor-General may make regulations prescribing matters:

                     (a)  required or permitted by this Act to be prescribed; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Act.

             (2)  Regulations providing for allowances and expenses for the purposes of section 89 or subsection 192(6) or 218(4) may provide for those allowances and expenses by reference to a scale of expenses for witnesses who attend before a court specified in the regulations, being a federal court, or the Supreme Court of a State or Territory.