CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.2 - LICENSING OF FINANCIAL MARKETS  

Division 3 - Regulation of market licensees  

Subdivision C - Powers of the Minister and ASIC  

SECTION 794B   MINISTER'S POWER TO REQUIRE SPECIAL REPORT  

794B(1)   [ Power to require special report]  

The Minister may give a market licensee a written notice requiring the licensee to give ASIC a special report on specified matters. ASIC must give the report to the Minister.

794B(2)   [ Audit report on special report]  

The notice may also require the licensee to give ASIC an audit report on the special report. The Minister must nominate to prepare the audit report:


(a) ASIC; or


(b) a specified person or body that is suitably qualified.

794B(3)   [ Deadline]  

The licensee must give the special report, and audit report (if any), to ASIC within the time required by the notice.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).


 

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