A power conferred by section 41 or 44 may only be exercised:

(a)

for the purposes of the performance or exercise of any of ASIC's functions and powers under the corporations legislation (other than the excluded provisions); or

(b)

for the purposes of ensuring compliance with the corporations legislation (other than the excluded provisions); or

(c)

in relation to:

(i)

an alleged or suspected contravention of the corporations legislation (other than the excluded provisions); or

(ii)

an alleged or suspected contravention of a law of the Commonwealth, or of a State or Territory in this jurisdiction, being a contravention that concerns the management or affairs of a body corporate, or involves fraud or dishonesty and relates to a body corporate, securities or futures contracts; or

(d)

for the purposes of an investigation under Division 1.