Treasury Laws Amendment (2023 Measures No. 1) Act 2023 (101 of 2023)

Schedule 1   Registration of providers and assisted decision making

Part 2   Assisted decision making

Corporations Act 2001

25   At the end of Subdivision C of Division 8C of Part 7.6

Add:

921ZF Assisted decision making

(1) ASIC may arrange for the use, under ASIC's control, of processes to assist decision making (such as computer applications and systems) for any purposes for which ASIC may make decisions in the performance or exercise of ASIC's functions or powers under this Division.

(2) A decision the making of which is assisted by the operation of such a process under an arrangement made under subsection (1) is taken to be a decision made by ASIC.

(3) ASIC may substitute a decision for a decision (the initial decision ) the making of which is assisted by the operation of such a process under an arrangement under subsection (1) if ASIC is satisfied that the initial decision is incorrect.