AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 49 ASIC may cause prosecution to be begun

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 49

  (1)   This section applies where:

  (a)   as a result of an investigation; or

  (b)   from a record of an examination;

conducted under this Part, it appears to ASIC that a person:

  (c)   may have committed an offence against the corporations legislation; and

  (d)   ought to be prosecuted for the offence.

  (2)   ASIC may cause a prosecution of the person for the offence to be begun and carried on.

  (3)   If:

  (a)   ASIC, on reasonable grounds, suspects or believes that a person can give information relevant to a prosecution for the offence; or

  (b)   the offence relates to matters being, or connected with, affairs of a body corporate, or to matters including such matters;

ASIC may, whether before or after a prosecution for the offence is begun, by writing given to the person, or to an eligible person in relation to the body, as the case may be, require the person or eligible person to give all reasonable assistance in connection with such a prosecution.

Note:   Failure to comply with a requirement made under this subsection is an offence (see section   63).

  (3A)   An offence under subsection   63(3) relating to subsection   (3) of this section is an offence of strict liability.

Note:   For strict liability , see section   6.1 of the Criminal Code .

  (4)   Subsection   (3) does not apply in relation to:

  (a)   the person referred to in subsection   (1); or

  (b)   a person who is or has been that person's lawyer.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (4), see subsection   13.3(3) of the Criminal Code .

  (5)   Nothing in this section affects the operation of the Director of Public Prosecutions Act 1983 .