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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001


TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

           Division 1--Objects

   1.      Objects  

           Division 2--Citation

   1A.     Short title  

           Division 3--Commencement and application

   2.      Commencement  
   4.      Application of this Act  
   4A.     Application of the Criminal Code  

           Division 4--Interpretation

   5.      Interpretation  
   5A.     Application of the Acts Interpretation Act 1901  
   6.      Giving information  

   PART 2--AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION AND CONSUMER PROTECTION IN RELATION TO FINANCIAL SERVICES

           Division 1--Australian Securities and Investments Commission

   8.      ASIC is a body corporate  
   8A.     ASIC's liabilities are Commonwealth liabilities  
   9.      Membership  
   9A.     Application of the finance law  
   10.     Chairperson and Deputy Chairpersons  
   10A.    Chairperson not subject to direction by ASIC on certain matters  
   11.     Corporations legislation functions and powers and other functions and powers  
   12.     Directions by Minister  
   12A.    Other functions and powers  
   12AA.   Cooperation with APRA  

           Division 2--Unconscionable conduct and consumer protection in relation to financial services

              Subdivision A--Application

   12AC.   Division extends to some conduct outside Australia  
   12AD.   Application of Division to Commonwealth and Commonwealth authorities  
   12AE.   Saving of other laws and remedies  

              Subdivision B--Interpretation

   12BA.   Interpretation  
   12BAA.  Definition of financial product  
   12BAB.  Meaning of financial service  
   12BB.   Misleading representations with respect to future matters  
   12BC.   Consumers  
   12BD.   Acquisition, supply and re-supply  
   12BE.   Application of Division in relation to leases and licences of land and buildings  
   12BEA.  Asserting a right to payment  

              Subdivision BA--Unfair contract terms

   12BF.   Unfair terms of consumer contracts and small business contracts  
   12BG.   Meaning of unfair  
   12BH.   Examples of unfair terms  
   12BI.   Terms that define main subject matter of consumer contracts or small business contracts etc. are unaffected  
   12BK.   Standard form contracts  
   12BL.   Contracts to which this Subdivision does not apply  
   12BM.   Contraventions of this Subdivision etc.  

              Subdivision C--Unconscionable conduct

   12CA.   Unconscionable conduct within the meaning of the unwritten law of the States and Territories  
   12CB.   Unconscionable conduct in connection with financial services  
   12CC.   Matters the court may have regard to for the purposes of section 12CB  

              Subdivision D--Consumer protection

   12DA.   Misleading or deceptive conduct  
   12DB.   False or misleading representations  
   12DC.   False or misleading representations in relation to financial products that involve interests in land  
   12DD.   Cash price to be stated in certain circumstances  
   12DE.   Offering rebates, gifts, prizes etc.  
   12DF.   Certain misleading conduct in relation to financial services  
   12DG.   Bait advertising  
   12DH.   Referral selling  
   12DI.   Accepting payment without intending or being able to supply as ordered  
   12DJ.   Harassment and coercion  
   12DK.   Pyramid selling of financial products  
   12DL.   Unsolicited credit cards and debit cards  
   12DM.   Assertion of right to payment for unsolicited financial services etc.  
   12DMA.  Liability of recipient for unsolicited financial services etc.  
   12DMB.  Assertion of right to payment for unauthorised advertisements  
   12DMC.  Caps on commissions for add-on risk products supplied in connection with motor vehicles  
   12DN.   Application of provisions of this Division to information providers  

              Subdivision DA--Deferred sales for add-on insurance products

   12DO.   Meaning of add-on insurance product  
   12DP.   Meaning of add-on insurance deferral period and add-on insurance pre-deferral period  
   12DQ.   Prohibition on selling add-on insurance products before end of add-on insurance deferral period etc.  
   12DR.   Prohibition on offering add-on insurance product during add-on insurance deferral period  
   12DS.   Prohibition on offering add-on insurance product--customer opt-out  
   12DT.   Right of return and refund for add-on insurance product sold in contravention of section 12DQ  
   12DU.   Exception for financial advisers  
   12DV.   Exception for product covered by product intervention order  
   12DW.   Exception for comprehensive motor vehicle insurance  
   12DX.   Exemption by regulations  
   12DY.    Exemption by ASIC  
   12DZ.   Effect of exemption  
   12DZA.  Contravention of conditions on exemption  

              Subdivision E--Conditions and warranties in consumer transactions

   12EA.   Conflict of laws  
   12EB.   Application of provisions not to be excluded or modified  
   12EC.   Limitation of liability for breach of certain conditions or warranties  
   12ED.   Warranties in relation to the supply of financial services  

              Subdivision G--Enforcement and remedies

   12GA.   Interpretation  
   12GB.   Offences against Subdivision D or DA  
   12GBA.  Declaration of contravention of civil penalty provision  
   12GBB.  Pecuniary penalty orders  
   12GBC.  Maximum pecuniary penalty  
   12GBCA. Pecuniary penalty applicable  
   12GBCB. Civil enforcement of pecuniary penalty order  
   12GBCC. Relinquishing the benefit derived from engaging in conduct resulting in a pecuniary penalty order  
   12GBCD. Civil enforcement of relinquishment order  
   12GBCE. Meaning of benefit derived and detriment avoided because of a contravention of a civil penalty provision  
   12GBCF. Civil evidence and procedure rules for declarations of contravention, pecuniary penalty orders and relinquishment orders  
   12GBCG. Civil proceedings after criminal proceedings  
   12GBCH. Criminal proceedings during civil proceedings  
   12GBCJ. Criminal proceedings after civil proceedings  
   12GBCK. Evidence given in civil proceedings not admissible in criminal proceedings  
   12GBCL. Attempt and involvement in contravention treated in same way as actual contravention  
   12GBCM. Continuing contraventions of civil penalty provisions  
   12GBCN. State of mind  
   12GBCP. Exceptions etc. to civil penalty provisions--burden of proof  
   12GBD.  Indemnification of officers  
   12GC.   Enforcement and recovery of certain fines  
   12GCA.  Preference must be given to compensate persons who suffer damage as a result of contravention  
   12GD.   Injunctions  
   12GF.   Actions for damages  
   12GFA.  Recovering commissions that exceed a cap under section 12DMC  
   12GG.   Finding in proceedings to be evidence  
   12GH.   Conduct by directors, employees or agents  
   12GI.   Defences  
   12GJ.   Jurisdiction of courts  
   12GK.   Transfer of matters  
   12GL.   Transfer of certain proceedings to Federal Circuit and Family Court of Australia (Division 1)  
   12GLA.  Non-punitive orders  
   12GLB.  Punitive orders requiring adverse publicity  
   12GLC.  ASIC may issue a public warning notice  
   12GLD.  Order disqualifying a person from managing corporations  
   12GM.   Other orders  
   12GN.   Power of Court to prohibit payment or transfer of money or other property  
   12GNA.  Limit on liability for misleading or deceptive conduct  
   12GNB.  Orders to redress loss or damage suffered by non-party consumers etc.  
   12GNC.  Kinds of orders that may be made to redress loss or damage suffered by non-party consumers etc.  
   12GND.  Declarations  
   12GO.   Intervention by ASIC  

              Subdivision GA--Proportionate liability for misleading and deceptive conduct

   12GP.   Application of Subdivision  
   12GQ.   Certain concurrent wrongdoers not to have benefit of apportionment  
   12GR.   Proportionate liability for apportionable claims  
   12GS.   Defendant to notify plaintiff of concurrent wrongdoer of whom defendant is aware  
   12GT.   Contribution not recoverable from defendant  
   12GU.   Subsequent actions  
   12GV.   Joining non-party concurrent wrongdoer in the action  
   12GW.   Application of Subdivision  

              Subdivision GB--Infringement notices

   12GX.   When an infringement notice may be given  
   12GXA.  Provisions subject to an infringement notice  
   12GXB.  Matters to be included in an infringement notice  
   12GXC.  Payment period  
   12GXD.  Extension of time to pay amount  
   12GXE.  Payment by instalments  
   12GXF.  Withdrawal of an infringement notice  
   12GXG.  Effect of payment of amount  
   12GXH.  Effect of this Subdivision  

              Subdivision GC--Substantiation notices

   12GY.   ASIC may require claims to be substantiated etc.  
   12GYA.  Extending periods for complying with substantiation notices  
   12GYB.  Compliance with substantiation notices  
   12GYC.  False or misleading information etc.  

              Subdivision H--Miscellaneous

   12HA.   Relationship of this Subdivision to Part 3  
   12HB.   Disclosure of documents by ASIC  
   12HC.   Prosecutions  
   12HD.   Jurisdiction of Court to make declarations and orders  

   PART 3--INVESTIGATIONS AND INFORMATION-GATHERING

           Division 1--Investigations

   13.     General powers of investigation  
   14.     Minister may direct investigations  
   15.     Investigation after report of receiver or liquidator  
   16.     Interim report on investigation  
   17.     Final report on investigation  
   18.     Distribution of report  

           Division 2--Examination of persons

   19.     Notice requiring appearance for examination  
   20.     Proceedings at examination  
   21.     Requirements made of examinee  
   22.     Examination to take place in private  
   23.     Examinee's lawyer may attend  
   24.     Record of examination  
   25.     Giving to other persons copies of record  
   26.     Copies given subject to conditions  
   27.     Record to accompany report  

           Division 3--Inspection of books and audit information-gathering powers

   28.     When certain powers may be exercised  
   29.     ASIC may inspect books without charge  
   30.     Notice to produce books about affairs of body corporate or registered scheme  
   30A.    Notice to auditors concerning information and books  
   30B.    Notice to registered liquidators concerning information and books  
   31.     Notice to produce books about financial products  
   32A.    Notice to produce books about financial services  
   33.     Notice to produce documents in person's possession  
   34.     ASIC may authorise persons to require production of books, giving of information etc.  
   37.     Powers where books produced or seized  
   38.     Powers where books not produced  
   39.     Power to require person to identify property of body corporate  
   39A.    ASIC may give copy of book relating to registered scheme to another person  
   39B.    ASIC to notify foreign regulator's access to information or books  
   39C.    ASIC may give information and books in relation to Chapter 5 bodies corporate  

           Division 3A--Extra application of Crimes Act search warrant provisions

              Subdivision A--Basic extra application

   39D.    Extra application of Crimes Act search warrant provisions  
   39E.    Interpretation of modifications  

              Subdivision B--Modifications

   39F.    Major modifications--evidential material  
   39G.    Major modifications--who may apply for a warrant etc.  
   39H.    Major modifications--purposes for which things may be used and shared  
   39I.    Minor modifications  

           Division 4--Requirements to disclose information

   40.     When certain powers may be exercised  
   41.     Acquisitions and disposals of financial products  
   42.     Acquisitions and disposals of trust property by trustee companies  
   43.     Exercise of certain powers of ASIC in relation to financial products  
   44.     Exercise of certain powers of ASIC in relation to trust property acquired or disposed of by trustee company  
   47.     Disclosures to take place in private  
   48.     Lawyer of person making disclosure may attend  

           Division 5--Proceedings after an investigation

   49.     ASIC may cause prosecution to be begun  
   50.     ASIC may cause civil proceeding to be begun  

           Division 5A--Audit deficiency notifications and reports

   50A.    Application  
   50B.    Notice of audit deficiency  
   50C.    Audit deficiency report  
   50D.    Publication of report  
   50E.    Consultation before publication  

           Division 6--Hearings

   51.     Power to hold hearings  
   52.     General discretion to hold hearing in public or private  
   53.     Request by person appearing at hearing that it take place in public  
   54.     Certain hearings to take place in private  
   55.     ASIC may restrict publication of certain material  
   56.     Who may be present when hearing takes place in private  
   57.     Involvement of person entitled to appear at hearing  
   58.     Power to summon witnesses and take evidence  
   59.     Proceedings at hearings  
   60.     ASIC to take account of evidence and submissions  
   61.     Reference to Court of question of law arising at hearing  
   62.     Protection of members etc.  

           Division 7--Offences

   63.     Non-compliance with requirements made under this Part  
   64.     False information  
   65.     Obstructing person acting under this Part  
   66.     Contempt of ASIC  
   67.     Concealing books relevant to investigation  
   68.     Self-incrimination  
   69.     Legal professional privilege  
   70.     Powers of Court where non-compliance with Part  

           Division 8--ASIC's powers where non-compliance with Part

   71.     Orders by ASIC  
   72.     Orders in relation to securities of a body corporate  
   73.     Orders in relation to financial products and trust property generally  
   75.     Orders under this Division  

           Division 9--Evidentiary use of certain material

   76.     Statements made at an examination: proceedings against examinee  
   77.     Statements made at an examination: other proceedings  
   78.     Weight of evidence admitted under section 77  
   79.     Objection to admission of statements made at examination  
   80.     Copies of, or extracts from, certain books  
   81.     Report under Division 1  
   82.     Exceptions to admissibility of report  
   83.     Material otherwise admissible  

           Division 10--Miscellaneous

   84.     Requirement made of a body corporate  
   85.     Evidence of authority  
   86.     Giving documents to natural persons  
   87.     Place and time for production of books  
   88.     Application of Crimes Act and Evidence Act  
   89.     Allowances and expenses  
   90.     Expenses of investigation under Division 1  
   91.     Recovery of expenses of investigation  
   92.     Compliance with Part  
   93.     Effect of Part  
   93AA.   Enforcement of undertakings given to ASIC  

   PART 3A--ENFORCEABLE UNDERTAKINGS

   93A.    Undertakings--registered schemes  
   93B.    Undertakings--notified foreign passport funds  
   93BA.   Undertakings by corporate director of a CCIV  

   PART 3B--CRIMINAL PENALTIES

   93C.    Penalty for committing an offence  
   93D.    Penalty applicable to an offence committed by an individual  
   93E.    Penalty applicable to an offence committed by a body corporate  
   93F.    Meaning of benefit derived and detriment avoided because of an offence  
   93G.    Where is the penalty for an offence specified?  
   93H.    If no penalty is specified  

   PART 4--ASIC--'S BUSINESS

           Division 1--General

   94.     Arrangement of ASIC's business  
   95.     ASIC to establish offices  
   96.     Regional Commissioners  

           Division 2--Divisions of ASIC

   97.     ASIC may establish Division  
   98.     Effect of direction establishing Division  
   99.     ASIC may reconstitute Division  
   100.    Effect of reconstituting Division  
   101.    Multiple Divisions  

           Division 3--Delegation by ASIC

   102.    Delegation  

           Division 4--Meetings of ASIC

   103.    Times and places of meetings  
   105.    Quorum  
   106.    Who is to preside at meetings  
   107.    Voting at meetings  
   107A.   Conduct of meetings  
   107B.   ASIC resolutions without meetings  

   PART 5--ASIC--'S MEMBERS

           Division 1--Terms and conditions

   108.    Term of office as member  
   109.    Term of office as Chairperson or Deputy Chairperson  
   110.    Resignation  
   111.    Termination of appointment  
   112.    Remuneration and allowances etc.  
   113.    Leave of absence  
   114.    Superannuation arrangements  
   115.    Other terms and conditions  

           Division 2--Acting appointments

   116.    Acting members  
   117.    Acting Chairperson  
   118.    Acting Deputy Chairperson  
   119.    Limitation on appointments to act during vacancy  

           Division 3--Delegation by members

   119A.   Delegation by members  

   PART 6--ASIC--'S STAFF

   120.    Staff  
   121.    Consultants etc.  
   122.    Staff seconded to ASIC  
   122A.   Senior staff member determination  

   PART 6A--GIVING INFORMATION ETC. TO APRA

   122B.   APRA may request information or documents  
   122C.   ASIC must comply with request  
   122D.   Information and documents covered by request  
   122E.   Notifying APRA of reasonable belief of material breach of APRA provisions  

   PART 7--PREVENTING CONFLICTS OF INTEREST AND MISUSE OF INFORMATION

           Division 1--Disclosure of interests

   123.    Members to disclose certain interests to Minister  
   125.    Notification of interests to ASIC  
   126.    Defence  
   126A.   Chairperson to ensure adequate disclosure of interest requirements for ASIC staff members  
   126B.   ASIC Code of Conduct  
   126C.   ASIC Values  

           Division 2--Confidentiality

   127.    Confidentiality  

   PART 8--FINANCE AND REPORTING REQUIREMENTS

           Division 2--Reporting requirements

   136.    Annual reports  

           Division 3--Liability to taxation

   137.    Liability to taxation  

           Division 4--Transparency

   138.    Annual "dashboard" report about ASIC's regulatory costs  

   PART 9--FINANCIAL SERVICES AND CREDIT PANELS

           Division 1--ASIC to convene panels

   139.    ASIC to convene panels  

           Division 2--Panel members

   140.    Appointment of panel members  
   141.    Minister may specify persons who are eligible to be appointed to panels  
   142.    Disclosure of interests to ASIC  
   143.    Remuneration  
   144.    Resignation  
   145.    Termination of appointment  
   146.    Other terms and conditions  
   147.    Application of finance law  

           Division 3--Decisions of panels

              Subdivision A--Decisions of panels at meetings

   148.    Convening meetings  
   149.    Presiding at meetings  
   150.    Disclosure of interests to panels  
   151.    Quorum  
   152.    Voting at meetings  
   153.    Participation in meetings etc.  
   154.    Conduct of meetings  
   155.    Minutes  

              Subdivision B--Decisions of panels without meetings

   156.    Decisions without meetings  

           Division 4--Panel hearings

              Subdivision A--General

   157.    When hearings are to be held  
   158.    Panels to take account of evidence and submissions  

              Subdivision B--Hearing procedures

   159.    Proceedings at hearings  
   160.    Notice of hearings  
   161.    Who may be present at hearings etc.  
   162.    Appearance of affected persons at hearings  
   163.    Affected persons may request hearings to be held in public  
   164.    Representation at hearings  
   165.    Power to require persons to appear and give evidence etc.  
   166.    Allowances and expenses  
   167.    Panels may restrict publication of certain material  

              Subdivision C--Offences

   168.    Contempt of panels  
   169.    Giving false evidence  
   170.    Failing to comply with certain requirements  
   171.    Being present at hearings  
   171A.   Publication of restricted material  

              Subdivision D--Other matters

   171B.   Reference to Court of question of law arising at hearing  
   171C.   Protection of panel members etc.  

           Division 5--Information given to panel members

   171D.   Use and disclosure of information  

           Division 6--Enforceable undertakings

   171E.   Variation, withdrawal and enforcement of undertakings given to Financial Services and Credit Panels  

           Division 7--Electronic communication

   171F.   Electronic communication of documents  

   PART 10--THE TAKEOVERS PANEL

           Division 1--General

   172.    Membership  
   173.    President  
   174.    Functions and powers of Panel  
   175.    Term of office as member  
   176.    Term of office as President  
   177.    Resignation  
   178.    Termination of appointment  
   179.    Remuneration and allowances  
   180.    Leave of absence  
   181.    Other terms and conditions  
   182.    Acting President  
   183.    Annual report  

           Division 2--Conduct of Panel's business

   184.    Constitution of Panel in relation to particular matters  
   185.    Disclosure of interests by members  
   186.    Application of Division 2 of Part 7  

           Division 3--Panel proceedings

   187.    Interpretation  
   188.    Power to conduct proceedings  
   190.    Panel may restrict publication of certain material  
   192.    Power to summon witnesses and take evidence  
   193.    Quorum  
   194.    Legal representation in proceedings before the Panel  
   195.    Procedure  
   197.    Protection of members etc.  
   198.    Non-compliance with requirements made under section 192  
   199.    False evidence  
   200.    Contempt of Panel  
   201.    Powers of Court where non-compliance with section 192  
   201A.   Undertakings to the Panel  

   PART 11--COMPANIES AUDITORS DISCIPLINARY BOARD

           Division 1--Constitution of Disciplinary Board

   203.    Membership of Disciplinary Board  
   204.    Functions and powers of Disciplinary Board  
   205.    Term of office  
   206.    Resignation from office  
   207.    Termination of appointment  
   208.    Acting Chairperson  
   208A.   Acting Deputy Chairperson  
   210.    Meetings of the Disciplinary Board  
   210A.   Panel to be constituted to deal with application  
   210B.   Meetings of Panel of the Disciplinary Board  
   211.    Disclosure of interests  
   212.    Remuneration and allowances  
   213.    Confidentiality  
   214.    Annual report  

           Division 2--Hearings by Disciplinary Board

   215.    Definition  
   216.    Hearings  
   217.    Power to summon witnesses and take evidence  
   218.    Proceedings at hearings  
   219.    Failure of witnesses to attend and answer questions  
   220.    Contempt of Disciplinary Board  
   221.    Protection of members etc.  
   222.    Hearings taken to be judicial proceedings  
   223.    Costs  

   PART 12--THE AUSTRALIAN FINANCIAL REPORTING SYSTEM

   224.    Main objects of this Part  

           Division 1--The financial reporting system

              Subdivision A--The Financial Reporting Council

   225.    Functions and powers of the Financial Reporting Council  
   225A.   Financial Reporting Council's information gathering powers  

              Subdivision B--The Australian Accounting Standards Board and the Office of the Australian Accounting Standards Board

   226.    The Office of the Australian Accounting Standards Board  
   226A.   Office of the AASB's functions and powers  
   227.    AASB's functions and powers  

              Subdivision C--The Auditing and Assurance Standards Board and the Office of the Auditing and Assurance Standards Board

   227AA.  The Office of the Auditing and Assurance Standards Board  
   227AB.  Office of the AUASB's functions and powers  
   227A.   The Auditing and Assurance Standards Board  
   227B.   AUASB's functions and powers  

           Division 2--Accounting standards

   228.    Purposive interpretation of standards  
   229.    Generic and specific standards  
   230.    Comparative amounts  
   231.    Cost/benefit analysis  
   232.    FRC views  
   233.    International accounting standards  
   234.    Validity of accounting standards  

           Division 2A--Auditing standards

   234A.   Purposive interpretation of standards  
   234B.   Generic and specific standards  
   234C.   FRC views  
   234D.   International auditing standards  
   234E.   Validity of auditing standards  

           Division 3--Administrative provisions

              Subdivision A--The Financial Reporting Council

   235A.   Membership of FRC  
   235AA.  Terms and conditions of appointment of FRC members  
   235B.   Annual report  
   235C.   Procedure  

              Subdivision AA--The Office of the AASB

   235D.   Duties of the Chair of the AASB  
   235E.   Staff of the Office of the AASB  
   235F.   Consultants and persons seconded to the Office of the AASB  
   235G.   Office of the AASB to have regard to FRC's advice etc.  
   235H.   Chair not subject to direction by the AASB on certain matters  

              Subdivision B--The Australian Accounting Standards Board

   236A.   Procedures  
   236AA.  AASB to have regard to FRC's advice etc.  
   236B.   Appointment of members of the AASB  
   236BA.  Terms and conditions of appointment of members of the AASB  
   236C.   Resignation and termination of appointment  
   236D.   Acting appointments  
   236DA.  Disclosure of interests  

              Subdivision BAA--The Office of the AUASB

   236DB.  Duties of the Chair of the AUASB  
   236DC.  Staff of the Office of the AUASB  
   236DD.  Consultants and persons seconded to the Office of the AUASB  
   236DE.  Office of the AUASB to have regard to FRC's advice etc.  
   236DF.  Chair not subject to direction by the AUASB on certain matters  

              Subdivision BA--The Auditing and Assurance Standards Board

   236E.   Procedures  
   236EA.  AUASB to have regard to FRC's advice etc.  
   236F.   Appointment of members of the AUASB  
   236FA.  Terms and conditions of appointment of members of the AUASB  
   236G.   Resignation and termination of appointment  
   236H.   Acting appointments  
   236J.   Disclosure of interests  

              Subdivision C--Confidentiality

   237.    Confidentiality  

   PART 14--THE PARLIAMENTARY JOINT COMMITTEE ON CORPORATIONS AND FINANCIAL SERVICES

   241.    Membership  
   242.    Powers and proceedings  
   243.    Duties  

   PART 15--MISCELLANEOUS

   243B.   Offences committed partly in and partly out of the jurisdiction  
   243C.   ASIC may publish internal dispute resolution data  
   243D.   Financial transaction reports  
   243E.   Suspicious matters reports under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006  
   243F.   Treat the corporate director of a CCIV as providing financial services etc. being provided by the CCIV  
   244.    Review by Administrative Appeals Tribunal of certain decisions  
   244A.   Notice of reviewable decision and review rights  
   245.    Validity of certain actions  
   246.    Liability for damages  
   247.    Duplicate seals  
   248.    Judicial notice of ASIC's seal and members' signatures  
   249.    Validation of agreements to employ staff or engage consultants  
   250.    Compensation for compulsory acquisition  
   251.    The regulations  

   PART 16--TRANSITION FROM THE OLD ASIC LEGISLATION

           Division 1--Preliminary

   253.    Object of Part  
   254.    Definitions  
   255.    Relationship of Part with State validation Acts  
   256.    References to things taken or deemed to be the case etc.  
   257.    Existence of several versions of the old ASIC legislation does not result in this Part operating to take the same thing to be done several times under the new ASIC legislation etc.  
   258.    Penalty units in respect of pre-commencement conduct remain at $100  
   259.    Ceasing to be a referring State does not affect previous operation of this Part  

           Division 2--Carrying over bodies established etc

   260.    Division has effect subject to Division 7 regulations  
   261.     Carrying over bodies established under the old ASIC Act  
   262.    Carrying over the Chairman and Deputy Chairman of the Financial Reporting Council  

           Division 3--Carrying over the old ASIC Regulations

   263.    Division has effect subject to Division 7 regulations  
   264.     Old ASIC Regulations continue to have effect  

           Division 4--Court proceedings and orders

   265.    Division has effect subject to Division 7 regulations  
   266.     Definitions  
   267.    Treatment of court proceedings under or related to the old ASIC legislation--proceedings other than federal ASIC proceedings  
   268.    Treatment of court proceedings under or related to the old ASIC legislation--federal ASIC proceedings  
   268A.   Appeals etc. in relation to some former federal corporations proceedings  
   268B.   Effect of decisions and orders made in federal corporations proceedings before commencement  
   269.    References to proceedings and orders in the new ASIC legislation  

           Division 5--Functions and powers of ASIC

   270.    Division has effect subject to Division 7 regulations  
   271.     Non-federal proceedings etc.  
   272.    NCSC's functions and powers  

           Division 6--General transitional provisions relating to other things done etc

   273.    Provisions in this Division have effect subject to the other Divisions  
   274.    Provisions of this Division may have an overlapping effect  
   275.    Things done by etc. carried over provisions continue to have effect  
   276.    Creation of equivalent rights and liabilities to those that existed before the commencement under carried over provisions of the old ASIC legislation  
   277.    Creation of equivalent rights and liabilities to those that existed before the commencement under repealed provisions of the old ASIC legislation  
   278.    Old ASIC legislation time limits continue to run  
   279.    Preservation of significance etc. of events or circumstances  
   280.    References in the new ASIC legislation generally include references to events, circumstances or things that happened or arose before the commencement  
   281.    References in the new ASIC legislation to that legislation or the new corporations legislation generally include references to corresponding provisions of the old ASIC legislation or old corporations legislation  
   282.    Carrying over references to corresponding previous laws or relevant previous laws  
   283.    References to ASIC legislation in instruments  
   284.    Old transitional provisions continue to have their effect  

           Division 7--Regulations dealing with transitional matters

   285.    Regulations may deal with transitional matters  

   PART 17--TRANSITIONAL PROVISIONS RELATING TO THE CORPORATE LAW ECONOMIC REFORM PROGRAM (AUDIT REFORM AND CORPORATE DISCLOSURE) ACT 2004

   285A.   Definitions  
   286.    Application of new subsection 225A(5)  
   287.    Application of Part 8 of Schedule 1 to the amending Act  
   288.    Application of Schedule 3 to the amending Act  

   PART 18--TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (CORPORATE REPORTING REFORM) ACT 2010

   289.    Definitions  
   290.    Application of Companies Auditors and Liquidators Disciplinary Board amendments  
   291.    Application of pre-hearing conference amendments  

   PART 19--TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT (AUDIT ENHANCEMENT) ACT 2012

   292.    Definitions  
   293.    Amendments made by Part 1 of Schedule 2--final report on auditor independence functions  
   294.    Application of amendments made by Parts 2 and 3 of Schedule 2  

   PART 20--TRANSITIONAL PROVISIONS RELATING TO THE CLEAN ENERGY LEGISLATION (CARBON TAX REPEAL) ACT 2014

   295.    Definition  
   296.    Transitional--carbon units issued before the designated carbon unit day  

   PART 21--TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT (DEREGULATORY AND OTHER MEASURES) ACT 2015

   297.    Definitions  
   298.    FRC members  
   299.    AASB members  
   300.    AUASB members  

   PART 22--APPLICATION PROVISION RELATING TO THE TREASURY LEGISLATION AMENDMENT (SMALL BUSINESS AND UNFAIR CONTRACT TERMS) ACT 2015

   301.    Application  

   PART 23--TRANSITIONAL PROVISIONS RELATING TO THE INSOLVENCY LAW REFORM ACT 2016

   302.    Definitions  
   303.    General powers of investigation continue to apply to failure to comply with duties before the commencement day  
   304.    Notice to registered liquidators concerning information and books--requirements before the commencement day  
   305.    ASIC may give information and books relating to pre-commencement activity  
   306.    Information to be included in ASIC's annual report  
   307.    Appointments to the Companies Auditors Disciplinary Board  

   PART 24--APPLICATION PROVISION RELATING TO THE TREASURY LAWS AMENDMENT (2017 MEASURES NO. 1) ACT 2017

   308.    Application  

   PART 25--TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (ENHANCING ASIC'S CAPABILITIES) ACT 2018

   309.    Definitions  
   310.    Staff members engaged under former subsection 120(3)  
   311.    APS employees in ASIC  
   312.    ASIC Enterprise Agreement  
   313.    Variation of terms and conditions of employment  
   314.    Transitional rules  

   PART 26--TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (ASIC GOVERNANCE) ACT 2018

   314A.   Saving of appointments  

   PART 26A--APPLICATION PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (AUSTRALIAN CONSUMER LAW REVIEW) ACT 2018

   315.    Application--listed public companies  
   316.    Application--power to obtain information, documents and evidence in relation to unfair contract terms  
   317.    Application--consumer protection  
   318.    Application--financial products  

   PART 27--APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (STRENGTHENING CORPORATE AND FINANCIAL SECTOR PENALTIES) ACT 2019

   320.    Definitions  
   321.    Application--offences  
   322.    Application--civil penalty provisions  
   323.    Application--infringement notices  

   PART 28--TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE--STRONGER REGULATORS (2019 MEASURES)) ACT 2020

   324.    Application of amendments--search warrant provisions  

   PART 29--APPLICATION PROVISIONS RELATING TO SCHEDULE 12 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020

   325.    Definitions  
   326.    Application  

   PART 29--APPLICATION PROVISIONS RELATING TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE--PROTECTING CONSUMERS (2019 MEASURES)) ACT 2020

   PART 30--APPLICATION PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (2019 MEASURES NO. 3) ACT 2020

   327.    Application--amounts of pecuniary penalties  
   328.    Application--authorised disclosure to monitoring body  

   PART 31--APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 3 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020

   329.    Application--deferred sales model for add-on insurance  

   PART 32--APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 4 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020

   330.    Application--caps on commissions  

   PART 33--TRANSITIONAL PROVISION RELATING TO THE TREASURY LAWS AMENDMENT (2020 MEASURES NO. 6) ACT 2020

   331.    Transitional--directions by Minister  

   PART 34--APPLICATION PROVISION RELATING TO SCHEDULE 1 TO THE FINANCIAL REGULATOR ASSESSMENT AUTHORITY (CONSEQUENTIAL AMENDMENTS AND TRANSITIONAL PROVISIONS) ACT 2021

   333.    Application--confidentiality  

   PART 36--APPLICATION PROVISION RELATING TO THE TREASURY LAWS AMENDMENT (2021 MEASURES NO. 5) ACT 2021

   336.    Application--reports of liquidators  

   PART 37--APPLICATION AND TRANSITIONAL PROVISIONS FOR THE TREASURY LAWS AMENDMENT (REGISTRIES MODERNISATION AND OTHER MEASURES) ACT 2020

   337.    Definitions  
   338.    Validation of acts or things done during interim period  
   339.    Application of item 102 of Schedule 1 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020  


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