AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 58 Power to summon witnesses and take evidence

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 58

  (1)   A member may, by written summons in the prescribed form given to a person:

  (a)   require the person to appear before ASIC at a hearing to give evidence, to produce specified documents, or to do both; and

  (b)   require the person to attend from day to day unless excused, or released from further attendance, by a member.

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

  (2)   At a hearing, ASIC may take evidence on oath or affirmation, and for that purpose a member may:

  (a)   require a witness at the hearing to either take an oath or make an affirmation; and

  (b)   administer an oath or affirmation to a witness at the hearing.

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

  (3)   The oath or affirmation to be taken or made by a person for the purposes of this section is an oath or affirmation that the evidence the person will give will be true.

  (4)   The member presiding at a hearing:

  (a)   may require a witness at the hearing to answer a question put to the witness; and

  (b)   may require a person appearing at the hearing pursuant to a summons issued under this section to produce a document specified in the summons.

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

  (4A)   An offence under subsection   63(3) relating to subsection   (1), (2) or (4) of this section is an offence of strict liability.

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

  (5)   ASIC may permit a witness at a hearing to give evidence by tendering, and if ASIC so requires, verifying by oath or affirmation, a written statement.