Commonwealth Consolidated Acts

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Surveillance checks by ASIC

             (1)  ASIC may, from time to time, check whether the responsible entity of a registered scheme is complying with the scheme's constitution and compliance plan and with this Act.

Note:         For this purpose ASIC may exercise the powers set out in Division 3 of Part 3 of the ASIC Act .

             (2)  The responsible entity and its officers must take all reasonable steps to assist ASIC in carrying out a check under subsection (1).

             (3)  A person must not intentionally or recklessly fail to comply with subsection (2).

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