National Consumer Credit Protection Act 2009

CHAPTER 6 - COMPLIANCE AND ENFORCEMENT  

PART 6-1 - INVESTIGATIONS  

Division 2 - Investigations  

SECTION 248   MINISTER MAY DIRECT INVESTIGATIONS  

248(1)   [ Minister may direct investigation]  

If, in the Minister ' s opinion, it is in the public interest in relation to this jurisdiction for a particular matter to which subsection (2) applies to be investigated, he or she may by writing direct ASIC to investigate that matter.

248(2)   [ Application of this subsection]  

This subsection applies to a matter relating to any of the following:

(a) an alleged or suspected contravention of the Commonwealth credit legislation;

(b) an alleged or suspected contravention of a law of the Commonwealth, or a law of a referring State or a Territory, being a contravention that:

(i) concerns the management, conduct or affairs of a licensee, credit representative or other person who engages, or has engaged, in a credit activity; or

(ii) involves fraud or dishonesty and relates to a credit activity engaged in by a person, or a credit contract, mortgage, guarantee or consumer lease;

(c) a credit activity engaged in by a person.

248(3)   [ Compliance]  

ASIC must comply with a direction under subsection (1).

248(4)   [ Delegation]  

A direction under subsection (1) does not prevent ASIC from delegating a function or power.

248(5)   [ Not a legislative instrument]  

A direction under subsection (1) is not a legislative instrument.