AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 139 ASIC to convene panels

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 139

  (1)   ASIC may, in writing, convene one or more Financial Services and Credit Panels.

  (2)   ASIC must, in circumstances prescribed by the regulations (if any), convene a panel under subsection   (1) to perform functions or exercise powers under the corporations legislation in relation to a relevant provider.

  (3)   A panel convened under subsection   (1) must consist of the following members appointed under subsection   140(1):

  (a)   a Chair;

  (b)   at least 2 other members.

  (4)   The Chair must be a staff member.