Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 6   Minor and technical amendments

Part 1   Amendments commencing day after Royal Assent

Division 2   Measures relating to the Companies Auditors Disciplinary Board

Australian Securities and Investments Commission Act 2001

5   Subsection 216(7)

Repeal the subsection, substitute:

(7) A person contravenes this subsection if:

(a) the person is present at a hearing of a Panel of the Disciplinary Board; and

(b) the person is present while the hearing is taking place in private; and

(c) a direction of the Panel under this section does not specify that the person may be present while the hearing is taking place in private; and

(d) the person is not:

(i) the Panel Chairperson; or

(ii) a member of the Panel; or

(iii) any other member of the Disciplinary Board approved by the Panel to be present while the hearing is taking place in private; or

(iv) a member of the staff of the Disciplinary Board approved by the Panel to be present while the hearing is taking place in private; or

(v) a person referred to in subsection (6).

Note: This subsection can apply while only a part of the hearing is taking place in private (see paragraph (5)(a)).

Penalty: 30 penalty units.