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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 116 Acting members

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 116

Acting members

  (1)   The Minister may:

  (a)   appoint a person to act as a full - time member during any period when there are less than 8 persons who are members or are acting as members in accordance with this paragraph or paragraph   (b); or

  (b)   appoint a person to act as a part - time member during any period when there are less than 8 persons who are members or are acting as members in accordance with this paragraph or paragraph   (a) and there are at least 3 persons who are full - time members or are acting as members in accordance with paragraph   (a); or

  (c)   appoint a person to act as a full - time member or as a part - time member during any period when a full - time member (other than the Chairperson or a Deputy Chairperson) or a part - time member, as the case may be, is absent from office, is acting as a Deputy Chairperson in accordance with section   118 or, in the case of a part - time member, is, for any reason, unable to perform the functions of his or her office.

  (2)   Except so far as the contrary intention appears, a reference in this Act to a member of ASIC includes a reference to a person who is acting as a member under subsection   (1).

Note:   For rules that apply to acting appointments, see sections   33AB and 33A of the Acts Interpretation Act 1901 .