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Duties of the Committee
Section 243 of the
Australian Securities and Investments Commission Act 2001 sets out the
Parliamentary Committee's duties as follows:
(a) to inquire
into, and report to both Houses on:
(i) activities of ASIC or the Panel, or
matters connected with such activities, to which, in the Parliamentary
Committee's opinion, the Parliament's attention should be directed; or
(ii) the operation of the corporations
legislation (other than the excluded provisions), or of any other law of the
Commonwealth, of a State or Territory or of a foreign country that appears to
the Parliamentary Committee to affect significantly the operation of the
corporations legislation (other than the excluded provisions); and
(b) to examine each annual report that is
prepared by a body established by this Act and of which a copy has been laid
before a House, and to report to both Houses on matters that appear in, or
arise out of, that annual report and to which, in the Parliamentary Committee's
opinion, the Parliament's attention should be directed; and
(c) to inquire into any question in
connection with its duties that is referred to it by a House, and to report to
that House on that question.
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