Commonwealth Consolidated Acts

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ASIC may comment on proposed resolution

             (1)  Within 14 days after a public company lodges documents under section 218, ASIC may give to the company written comments on those documents (other than comments about whether the proposed resolution is in the company's best interests).

             (2)  If the company is listed, ASIC may consult with the relevant market operator for the purposes of giving comments to the company.

             (3)  Subsection (2) does not limit the persons with whom ASIC may consult.

             (4)  ASIC must keep a copy of the written comments it gives to a company under subsection (1), and subsections 1274(2) and (5) apply to the copy as if it were a document lodged with ASIC.

             (5)  The fact that ASIC has given particular comments, or has declined to give comments, under subsection (1) does not in any way affect the performance or exercise of any of ASIC's functions and powers.

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