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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 56

Who may be present when hearing takes place in private

  (1)   ASIC may give directions about who may be present during a hearing that is to take place in private.

  (2)   A direction under subsection   (1) does not prevent:

  (a)   a person whom the corporations legislation (other than the excluded provisions) requires to be given the opportunity to appear at a hearing; or

  (b)   a person representing under section   59:

  (i)   a person of a kind referred to in paragraph   (a) of this subsection; or

  (ii)   a person who, by virtue of such a direction, is entitled to be present at a hearing;

from being present during the hearing.

  (3)   Where ASIC directs that a hearing take place in private, a person must not be present at the hearing unless he or she:

  (a)   is a member; or

  (b)   is a staff member approved by ASIC; or

  (c)   is entitled to be present by virtue of:

  (i)   a direction under subsection   (1); or

  (ii)   subsection   (2).

Penalty:   30 penalty units.

  (4)   Subsection   (3) is an offence of strict liability.

Note:   For strict liability , see section   6.1 of the Criminal Code .


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