Corporations Amendment (No. 1) Act 2010 (131 of 2010)

Schedule 1   Amendments

Australian Securities and Investments Commission Act 2001

3   After section 36

Insert:

36A Execution of warrant

(1) Before any person enters premises under a search warrant issued under section 36, a member of the Australian Federal Police must:

(a) announce that the member is authorised to enter the premises; and

(b) give any person at the premises an opportunity to allow entry to the premises.

(2) However, the member of the Australian Federal Police is not required to comply with subsection (1) if he or she believes on reasonable grounds that immediate entry to the premises is required to ensure that the effective execution of the warrant is not frustrated.

(3) If the occupier of the premises is present at the premises:

(a) the member of the Australian Federal Police must make available to the occupier a copy of the warrant; and

(b) the occupier is entitled to observe the search being conducted.

(4) The occupier's right to observe the search being conducted ends if the occupier impedes the search.

(5) This section does not prevent 2 or more areas of the premises being searched at the same time.

(6) If books are seized under the warrant, the member of the Australian Federal Police or a person assisting the member must provide a receipt for the books.

(7) If 2 or more books are seized, they may be covered in the one receipt.