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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 218 Proceedings at hearings

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 218

Proceedings at hearings

  (1)   At a hearing:

  (a)   the proceedings must be conducted with as little formality and technicality, and with as much expedition, as the requirements of the corporations legislation (other than the excluded provisions) and a proper consideration of the matters before the Panel permit; and

  (b)   the Panel is not bound by the rules of evidence; and

  (c)   the Panel may, on such conditions as it thinks fit, permit a person to intervene in the proceedings.

  (2)   The Panel must observe the rules of natural justice at and in connection with a hearing.

  (3)   At a hearing:

  (a)   ASIC or APRA may be represented by:

  (i)   a staff member, or a member or acting member, of ASIC or APRA; or

  (ii)   a person authorised by ASIC or APRA for the purpose; and

  (b)   a natural person may appear in person or may be represented by an employee of the person approved by the Panel; and

  (c)   a body corporate (other than ASIC or APRA) may be represented by an employee, or by a director or other officer, of the body corporate approved by the Panel; and

  (d)   an unincorporated association of persons or a member of an unincorporated association of persons may be represented by a member, officer or employee of the association approved by the Panel; and

  (e)   any person may be represented by a barrister or solicitor of the Supreme Court of a State or Territory or of the High Court.

  (4)   A person who attends at a hearing pursuant to a summons issued under subsection   217(1) is entitled to be paid:

  (a)   in a case where the summons was issued at another person's request--by that other person; or

  (b)   in any other case--by the Disciplinary Board;

such allowances and expenses as are provided for by the regulations.

  (5)   The Panel may permit a person appearing as a witness at a hearing to give evidence by tendering, and, if the Panel thinks fit, verifying by oath or affirmation, a written statement.