Investigatory Powers of the Australian Securities Commission

Investigatory Powers of the Australian Securities Commission

June 1995

© Commonwealth of Australia 1995

ISBN 0 642 22980 5

N.B. All files are in PDF format. To view or print the report, you will require the Acrobat PDF reader®, which can be downloaded free of charge from Adobe.

View the report as a single document - (PDF format) - 5138 KB

View the report as separate downloadable parts:

Membership of the Committee
Committee Secretariat
Terms of Reference
Executive Summary

Chapter 1: Origins of the Inquiry- (PDF format)
Reference to the Committee
Conduct of the Inquiry
Public Hearings
Change to the Senate Committee System

Chapter 2: Introduction to the Issues - (PDF format)
Uniformity of Legislation
Lessons of the 1980s
The End of the Coopertive Scheme

Chapter 3: The ASC and the Community- (PDF format)
Key Role of the ASC
Relationship with the Business Community
Recommendation 1
The De Crespigny Prosecution
The ASC and the Community
ASC Complaints Procedure
Recommendation 2

Chapter 4: Outline of the Powers of the ASC - (PDF format)
Key Investigatory Powers
Criticism of the Extent of the ASCs Powers
The Critical Balance

Chapter 5: The Exercise of its Powes in Practice - (PDF format)
The Need for Wide Powers of Investigation
The Time Taken to Complete an Investigation
No Notification when an Investigation Finishes
Recommendation 3
Late Service of Documents
Recommendation 4
Delay in the Provision of Transcripts of Examinations
Recommendation 5
Training of ASC Staff
Liaison with the Business Community
Recommendation 6

Chapter 6: Notices to Produce Documents - (PDF format)
Outline of the Power
Width of Notices to Produce Documents
Comments in the Evidence Concerning Notices to Produce Documents
Access to Seized Documents
Recommendation 7
Recommendation 8
Cost of Compliance
Recommendation 9

Chapter 7: Examination of Witnesses - (PDF format)
Outline of the Provisions
Protection (i): The Information Contained in the Notice to Attend for Examination
Protection (ii): The Privacy of the Examination
Protection (iii): The Right to Legal Representation
Recommendation 10
Protection (iv): The Entitlement to a Record of the Examination
Recommendation 11
Protection (vi): The Claim to legal Professional Privelege
Protection (vii): The Calim to Privilege Against Self Incrimination
Inquisitorial Examinations Under the Bankruptcy Act
Checks on the Misuse of a Backruptcy Examination
Recommendation 12
Recommendation 13

Chapter 8: The Privilege Against Self Incrimination - (PDF format)
The Common Law
Use/Derivative Use Immunity
Criticism of the Abrogation of the Privilage
Blanket Claim ato the Privilege Against Self Incrimination
Corporate Privilege Against Self Incrimination
Wisdom of Tampering with the Common Law Privilege
Recommendation 14

Chapter 9: Legal Professional Privilege - (PDF format)
The Availability of Legal Professional Privilege at Compulsory Examinations
The Solicitor-Client Relationship
Legal Professional Privilege
The Dominant Purpose Test
Elements of Legal Professional Privilege
Arguments in Support of the Privilege
The ASC Law Provisions
ASC Defence of the Decision in Yuills Case
The Law Council of Australia Response
Comment in the Evidence on Legal Professional Privilege
Recommendation 15

Dissenting Report by Senator Jim McKiernan - (PDF format)


Appendix 1 Submissions received - (PDF format)
Appendix 2 Details of Meetings - (PDF format)
Appendix 3 Edited Transcript of Compulsory Examination - (PDF format)
Appendix 4 ASC Submission to the Attorney-General - Legal Professional Privilege - (PDF format)
Appendix 5 Guidelines for Managing Allegations of Misconduct Against ASC Officers - (PDF format)