PART 9
-
ADMINISTRATION
Division 2
-
Miscellaneous
History
Div 2 heading inserted by No 69 of 2020, s 3 and Sch 1 item 5, effective 4 April 2021.
SECTION 64
DIRECTIONS BY MINISTER
64(1)
The Minister may, by legislative instrument, give ASIC a direction about policies it should pursue, or priorities it should follow, in performing or exercising any of its functions or powers under this Act or the Transitional Act.
History
S 64(1) amended by No 64 of 2020, s 3 and Sch 3 items 160 and 161, by substituting
"
may, by legislative instrument, give ASIC a direction
"
for
"
may give ASIC a written direction
"
and omitting
"
The direction is not a legislative instrument.
"
after
"
the Transitional Act
"
, effective 1 October 2020. No 64 of 2020, s 3 and Sch 3 item 326(8) contains the following transitional provision:
326 Transitional
-
other instruments
…
(8)
Item 325 does not apply to a direction given under subsection 64(1) of the
Business Names Registration Act 2011
.
Note:
For a transitional provision for directions given under subsection 64(1) of the
Business Names Registration Act 2011
, see item 163 of this Schedule.
64(2)
The Minister must not give a direction under subsection
(1)
unless he or she has:
(a)
notified ASIC in writing that he or she is considering giving the direction; and
(b)
given the Chairperson of ASIC an adequate opportunity to discuss with the Minister the need for the proposed direction.
64(3)
The Minister must not give a direction under subsection
(1)
about a particular case.
64(4)
ASIC must comply with a direction under subsection
(1)
.
64(5)
(Repealed by No 64 of 2020)
History
S 64(5) repealed by No 64 of 2020, s 3 and Sch 3 item 162, effective 1 October 2020. S 64(5) formerly read:
64(5)
The Minister must cause a copy of an instrument under subsection (1):
(a)
to be published in the
Gazette
within 21 days after the instrument is made; and
(b)
to be laid before each House of the Parliament within 15 sitting days of that House after the publication;
but failure of the Minister to do so does not affect the instrument
'
s validity.
[
CCH Note:
S 64 will be repealed by No 69 of 2020 (as amended by No 35 of 2022), s 3 and Sch 1 item 281, effective 1 July 2026 or a day or days to be fixed by Proclamation. For application and transitional provisions, see note under s
23(2)
.]