National Consumer Credit Protection Act 2009

CHAPTER 6 - COMPLIANCE AND ENFORCEMENT  

PART 6-1 - INVESTIGATIONS  

Division 2 - Investigations  

SECTION 249   INTERIM REPORT ON INVESTIGATION  

249(1)   [ When report must be prepared]  

If, in the course of an investigation under this Part, ASIC forms the opinion that:

(a) a serious contravention of a law of the Commonwealth, or a law of a referring State or a Territory, has been committed; or

(b) to prepare an interim report about the investigation would enable or assist the protection, preservation or prompt recovery of property; or

(c) there is an urgent need for the Commonwealth credit legislation to be amended;

it must prepare an interim report that relates to the investigation and sets out:

(d) if paragraph (a) applies - its findings about the contravention, and the evidence and other material on which those findings are based; or

(e) if paragraph (b) applies - such matters as, in its opinion, will so enable or assist; or

(f) if paragraph (c) applies - its opinion about amendment of that legislation, and its reasons for that opinion;

and such other matters relating to, or arising out of, the investigation as it considers appropriate.

249(2)   [ Direction by Minister]  

ASIC may prepare an interim report about an investigation under this Part and must do so if the Minister so directs.

249(3)   [ Content of report in subsection (2)]  

A report under subsection (2) must set out such matters relating to, or arising out of, the investigation as ASIC considers appropriate or the Minister directs.

249(4)   [ Not a legislative instrument]  

An interim report prepared under this section is not a legislative instrument.