Treasury Laws Amendment (Enhancing ASIC's Capabilities) Act 2018 (122 of 2018)

Schedule 2   Amendments relating to engagement of ASIC staff

Part 1   Main amendments

Australian Securities and Investments Commission Act 2001

11   At the end of Division 1 of Part 7

Add:

126A Chairperson to ensure adequate disclosure of interest requirements for ASIC staff members

The Chairperson must take reasonable steps to ensure that there are, where appropriate, adequate disclosure of interest requirements applying to staff members.

126B ASIC Code of Conduct

(1) The Chairperson must determine, in writing, the ASIC Code of Conduct.

Note: Subsection 33(3) of the Acts Interpretation Act 1901 provides for the repeal, variation etc. of instruments.

(2) The ASIC Code of Conduct applies to ASIC members and staff members employed under section 120.

(3) To avoid doubt, a determination under subsection (1) is not a legislative instrument.

126C ASIC Values

(1) The Chairperson must determine, in writing, the ASIC Values.

Note: Subsection 33(3) of the Acts Interpretation Act 1901 provides for the repeal, variation etc. of instruments.

(2) The Chairperson must uphold and promote the ASIC Values.

(3) ASIC members (other than the Chairperson) and staff members employed under section 120 must uphold the ASIC Values.

(4) To avoid doubt, a determination under subsection (1) is not a legislative instrument.