CORPORATIONS ACT 2001 - SECT 794B Minister's power to require special report

CORPORATIONS ACT 2001 - SECT 794B

  (1)   The Minister may give a market licensee a written notice requiring the licensee to give ASIC a special report on specified matters. ASIC must give the report to the Minister.

  (2)   The notice may also require the licensee to give ASIC an audit report on the special report. The Minister must nominate to prepare the audit report:

  (a)   ASIC; or

  (b)   a specified person or body that is suitably qualified.

  (3)   The licensee must give the special report, and audit report (if any), to ASIC within the time required by the notice.

Note:   Failure to comply with this subsection is an offence (see subsection   1311(1)).