Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) ASIC may, in writing, direct a benchmark administrator licensee to give ASIC a report that:
(a) deals with specified matters; and
(b) if ASIC requires--includes an audit statement on the licensee's report on those matters.
(2) A direction under subsection (1) must specify:
(a) a reasonable period for giving ASIC the report; and
(b) if paragraph (1)(b) applies--a person or body that is suitably qualified to prepare the audit statement.
(3) ASIC may give a copy of the report to the Minister.
(4) A person commits an offence if:
(a) the person is a benchmark administrator licensee; and
(b) the person is given a direction under subsection (1); and
(c) the person fails to comply with the direction.
(5) A direction under subsection (1) is not a legislative instrument.