Commonwealth Consolidated Acts

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 246

  (1)   None of the following:

  (aa)   the Minister;

  (a)   ASIC;

  (c)   a member of ASIC;

  (e)   a member of the Takeovers 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;

  (i)   a person who is:

  (i)   a member of staff of the Office of the AASB engaged under section   235E; or

  (ii)   a consultant to the Office of the AASB engaged under section   235F; or

  (iii)   a person assisting the Office of the AASB under subsection   235F(3);

  (j)   a person who is:

  (i)   a member of staff of the Office of the AUASB engaged under section   236DC; or

  (ii)   a consultant to the Office of the AUASB engaged under section   236DD; or

  (iii)   a person assisting the Office of the AUASB under subsection   236DD(3);

  (k)   an officer or employee of an Agency (within the meaning of the Public Service Act 1999 ), or of an authority of the Commonwealth, whose services are made available to the FRC, a committee convened under Part   2 of Schedule   2 to the Corporations Act or the Disciplinary Board in connection with the performance or exercise of any of its functions or powers;

  (l)   a person engaged by an Agency (within the meaning of the Public Service Act 1999 ), or of an authority of the Commonwealth, to provide services to the FRC or a committee convened under Part   2 of Schedule   2 to the Corporations Act in connection with the performance or exercise of any of its functions or powers;

  (m)   a member of a committee convened under Part   2 of Schedule   2 to the Corporations Act;

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.

  (2)   Without limiting paragraph   (1)(f), the following are taken to be persons appointed for the purposes of this Act:

  (a)   a member of the Disciplinary Board;

  (b)   a member of the FRC or of a committee or advisory group established by the FRC;

  (c)   a member of the AASB or of a committee, advisory panel or consultative group established by the AASB or by the Office of the AASB;

  (d)   a member of the AUASB or of a committee, advisory panel or consultative group established by the AUASB or by the Office of the AUASB.