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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 5

Interpretation

(1) In this Act, unless the contrary intention appears:

"AASB" means the Australian Accounting Standards Board.

"absent from office", in relation to a holder of an office, means:

(a)
absent from duty or from Australia; or

(b)
unable, for any reason, to perform the functions of the office.

"affairs", in relation to a body corporate, has the same meaning as in section 232 of the Corporations Act.

"APRA "means the Australian Prudential Regulation Authority.

"ASIC "means the Australian Securities and Investments Commission.

"ASIC delegate" means a person to whom, or a body to which, a function or power is delegated under section 102.

"assist", in relation to an ASIC delegate, means:

(a)
to perform functions:

(i)
as a member, officer or employee of the ASIC delegate; and
(ii)
in connection with the ASIC delegate's performance or exercise of a function or power delegated under section 102; or
(b)
to perform services for the ASIC delegate in connection with the ASIC delegate's performance or exercise of a function or power delegated under section 102.

"Australia" includes an external Territory to which this Act applies.

"books" includes:

(a)
a register; and

(b)
financial reports or financial records, however compiled, recorded or stored; and

(c)
a document; and

(d)
banker's books; and

(e)
any other record of information.

"CASAC" means the Companies and Securities Advisory Committee.

"Chairperson" means:

(a)
except in Part 11 or in relation to the Disciplinary Board—the Chairperson of ASIC; and

(b)
in Part 11 or in relation to the Disciplinary Board—the Chairperson of the Disciplinary Board.

"contravention", in relation to a law, includes an ancillary offence relating to an offence against that law.

"Convenor" means the Convenor of CASAC.

" Corporations Act" means the Corporations Act 2001 and regulations made under that Act.

"corporations legislation "means:

(a)
this Act; and

(b)
the Corporations Act.

"court", except in section 248, includes a tribunal having power to require the production of documents or the answering of questions.

"Deputy Chairperson" means the Deputy Chairperson of ASIC.

"Disciplinary Board" means the Companies Auditors and Liquidators Disciplinary Board.

"eligible employee" has the same meaning as in the Superannuation Act 1976 .

"eligible person", in relation to a person, means a person who:

(a)
if the first-mentioned person is a body corporate—is or has been an officer of the body within the meaning of the corporations legislation (other than the excluded provisions); or

(b)
in any case:

(i)
is or has been an employee, agent, banker, solicitor or auditor of; or
(ii)
is acting, or has acted, in any other capacity on behalf of;
the first-mentioned person.

"examination" means an examination of a person pursuant to a requirement made under section 19.

"excluded provisions "means section 12A and Division 2 of Part 2.

"expenses", in relation to an investigation under Division 1 of Part 3, includes costs and expenses incurred in relation to a proceeding begun under section 50 as a result of the investigation.

"fail" means refuse or fail.

"foreign country" means:

(a)
an external Territory to which this Act does not apply; or

(b)
a country outside Australia and the external Territories; or

(c)
a part of such a country.

"FRC" means the Financial Reporting Council.

give has:

(a)
in relation to a document—a meaning affected by section 86; and

(b)
in relation to information—a meaning affected by section 6.

"hearing", in this section and Part 3, means a hearing before ASIC and, in sections 52, 54, 55 and 56, includes a part of such a hearing.

"House" means a House of the Parliament.

"information" has a meaning affected by section 6.

"international accounting standards" means accounting standards made by:

(a)
the Board of the International Accounting Standards Committee; or

(b)
another body specified by the regulations.

"investigate", in relation to ASIC, means investigate in the course of performing or exercising any of ASIC's functions and powers.

"meeting" means:

(a)
in Part 4—a meeting of ASIC;

(b)
in Part 9—a meeting of CASAC;

(c)
in Part 11—a meeting of the Disciplinary Board.

"member" means:

(a)
except in Division 2 of Part 4, in Part 9, 10, 11, 12 or 14, or in relation to a Division, CASAC, the Panel, the Disciplinary Board, the FRC, the AASB or the Parliamentary Committee—a member of ASIC; and

(b)
in Part 9 or in relation to CASAC—a member of CASAC; and

(c)
in Part 10 or in relation to the Panel—a member of the Panel; and

(d)
in Part 11 or in relation to the Disciplinary Board—the Chairperson or any other member of the Disciplinary Board; and

(e)
in relation to the FRC—a member of the FRC; and

(ea)
in relation to the AASB—a member of the AASB; and

(f)
in Part 14 or in relation to the Parliamentary Committee—a member of the Parliamentary Committee.

"officer", in relation to a body corporate, includes:

(a)
a director, secretary, executive officer or employee of the body; and

(b)
a receiver, or a receiver and manager, of property of the body; and

(ba)
an administrator of the body; and

(bb)
an administrator of a deed of company arrangement executed by the body; and

(c)
an official manager, or a deputy official manager, of the body; and

(d)
a liquidator, or a provisional liquidator, of the body; and

(e)
a trustee or other person administering a compromise or arrangement made between the body and any other person or persons.

"Panel" means the Corporations and Securities Panel.

"Panel proceedings" means proceedings before the Panel on:

(a)
an application made to the Panel under the Corporations Act; or

(b)
a reference of a decision to the Panel for review under the Corporations Act .

"Parliamentary Committee" means the Parliamentary Joint Committee on Corporations and Securities.

"power" includes an authority.

"prescribed" means prescribed by this Act or the regulations.

"President" means the President of the Panel.

"proceeding" means:

(a)
a proceeding in a court; or

(b)
a proceeding or hearing before, or an examination by or before, a tribunal;

whether the proceeding, hearing or examination is of a civil, administrative, criminal, disciplinary or other nature.

"produce", except in Part 3, includes permit access to.

"property" means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description and includes a thing in action and money.

"record", in relation to an examination, means the whole or a part of a record made under section 24 of statements made at the examination.

"regulations" means regulations made under this Act.

"report" includes an interim report.

"staff member" means:

(a)
a member of the staff referred to in subsection 120(1) or a person employed under subsection 120(3); or

(b)
a person engaged under subsection 121(1); or

(c)
any of the officers, employees and persons who under section 122 are to assist ASIC.

"statement", in relation to an examination, includes a question asked, an answer given, and any other comment or remark made, at the examination.

"superannuation benefits" includes:

(a)
benefits in the nature of superannuation benefits; and

(b)
benefits similar to benefits provided under the Superannuation Act 1976 ; and

(c)
benefits similar to the benefits provided under the Superannuation Act 1990 .

"Territory" means:

(a)
the Capital Territory; or

(b)
the Northern Territory; or

(c)
an external Territory to which this Act applies;

and, when used in a geographical sense, includes the coastal sea of the Territory.

"this Act" includes the regulations.

"tribunal" means:

(a)
a tribunal in Australia; or

(b)
any other body, authority or person in Australia having power, by law or by consent of parties, to hear, receive or examine evidence.

"trust money" means money ASIC receives or holds on trust.

"witness":

(a)
in relation to a hearing before ASIC, means a person appearing at the hearing to give evidence; or

(b)
in relation to Panel proceedings, means a person appearing in the proceedings to give evidence.

"written record", in relation to an examination, means:

(a)
a record of the examination:

(i)
that is made in writing; or
(ii)
as reduced to writing; or
(b)
a part of such a record.

(2) Subject to this Act, an expression has the same meaning in this Act as in the Corporations Act. (3) Except so far as the contrary intention appears in this Act, Parts 1.2 and 1.3 of the Corporations Act apply for the purposes of this Act as if the provisions of this Act were provisions of that Act.



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