CORPORATIONS ACT 2001 - SECT 601FF Surveillance checks by ASIC
CORPORATIONS ACT 2001 - SECT 601FF
Surveillance checks by ASIC(1) ASIC may, from time to time, check whether the responsible entity of a registered scheme is complying with the scheme's constitution and compliance plan and with this Act.
Note: For this purpose ASIC may exercise the powers set out in Division 3 of Part 3 of the ASIC Act .
(2) The responsible entity and its officers must take all reasonable steps to assist ASIC in carrying out a check under subsection (1).
(3) A person must not intentionally or recklessly fail to comply
with subsection (2).