Under section 243 of the Australian Securities and Investments Commission Act 2001, the committee has an ongoing statutory duty to inquire into the activities of ASIC and the Takeovers Panel, or matters connected with such activities, and the operation of the corporations legislation and related legislation (for a more comprehensive description, see the role of the committee page). This is an ongoing inquiry consistent with those statutory duties, which will continue through the life of the 48th Parliament.