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AUSTRALIAN SECURITIES COMMISSION ACT 1989 No. 90 of 1989 - SECT 11 Functions and powers

AUSTRALIAN SECURITIES COMMISSION ACT 1989 No. 90 of 1989 - SECT 11

Functions and powers
11. (1) The Commission has such functions as are conferred on it by or under a
law of the Commonwealth of which the Commission has the general administration
and that deals with, or with matters including, any or all of the following:

   (a)  the formation of companies or close corporations;

   (b)  the regulation of bodies corporate;

   (c)  the regulation of acquisitions of shares in bodies corporate;

   (d)  the regulation of the securities industry;

   (e)  the regulation of the futures industry;

   (f)  matters incidental to a matter referred to in a preceding paragraph.

(2) The Commission also has the following functions:

   (a)  to provide such staff and support facilities to the Panel, the
        Disciplinary Board and the Review Board as are necessary or desirable
        for the performance and exercise by the Panel, the Disciplinary Board
        and the Review Board of their respective functions and powers;

   (b)  to advise the Minister about any changes to a national scheme law
        that, in the Commission's opinion, are needed to overcome, or would
        assist in overcoming, any problems that the Commission has encountered
        in the course of performing or exercising any of its functions and
        powers.

(3) The Commission may, on its own initiative or when requested by the
Minister, advise the Minister, and make to the Minister such recommendations
as it thinks fit, about any matter of a kind referred to in section 148.

(4) The Commission has power to do whatever is necessary for or in connection
with, or reasonably incidental to, the performance of its functions.

(5) Without limiting the generality of subsection (3) or (4), the Commission
also has such powers as are conferred on it by or under a national scheme law.

(6) Subject to this Act, the Commission has the general administration of this
Act.