Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023 (69 of 2023)

Schedule 1   Modernising business communications

Part 2   Virtual hearings and examinations

Australian Securities and Investments Commission Act 2001

68   After section 218

Insert:

218A Proceedings at hearings

(1) The Panel may decide to hold a hearing:

(a) at one or more physical venues; or

(b) at one or more physical venues and using virtual enquiry technology; or

(c) using virtual enquiry technology only.

(2) Subsections (3) and (4) apply if the hearing is held:

(a) at one or more physical venues and using virtual enquiry technology; or

(b) using virtual enquiry technology only.

(3) The Panel must ensure that the use of the virtual enquiry technology is reasonable.

(4) If the hearing is held in public, the Panel must ensure that:

(a) the virtual enquiry technology provides the public with a reasonable opportunity to observe the hearing; and

(b) information sufficient to allow the public to observe the hearing using the virtual enquiry technology is made publicly available in a reasonable way.

(5) If the hearing is held:

(a) at more than one physical venue; or

(b) at one or more physical venues and using virtual enquiry technology; or

(c) using virtual enquiry technology only;

the Panel may appoint a single place and time at which the hearing is taken to have been held.

(6) This section applies to part of a hearing in the same way that it applies to all of a hearing.