Commonwealth Numbered Acts

AUSTRALIAN SECURITIES COMMISSION ACT 1989 No. 90 of 1989 - SECT 12

12. (1) The Minister may give the Commission a written direction about
policies it should pursue, or priorities it should follow, in performing or
exercising any of its functions or powers.

(2) The Minister shall not give a direction under subsection (1) unless he or
she has:

   (a)  notified the Commission in writing that he or she is considering
        giving the direction; and

   (b)  given the Chairperson an adequate opportunity to discuss with the
        Minister the need for the proposed direction.

(3) The Minister shall not give a direction under subsection (1) about a
particular case.

(4) The Commission shall comply with a direction under subsection (1).

(5) The Minister shall cause a copy of an instrument under subsection (1):

   (a)  to be published in the Gazette within 21 days after the instrument is
        made; and

   (b)  to be laid before each House of the Parliament within 15 sitting days
        of that House after the publication; but failure of the Minister to do
        so does not affect the instrument's validity.