Commonwealth Numbered Acts

SECURITIES INDUSTRY ACT 1980 No. 66, 1980 - SECT 15

Division 2-Investigations
15. (1) In this Division, unless the contrary intention appears-



"direction" means a direction given to the Commission in the exercise of a
power under sub-section 16 (1), (2) or (3) in relation to the carrying out of
an investigation into matters relating to dealing in securities;



"inspector" means an inspector appointed under this Division;



"prescribed direction" means a direction given in the exercise of a power
under sub-section 16 (1) or (2) otherwise than in response to a request made
by the Commission under sub-section 16 (4), not being a direction that has
been approved by the Ministerial Council under sub-section 16 (6);



"prescribed person" means a person suspected or believed by an inspector, on
reasonable grounds, to be capable of giving information concerning any matter
being, or to be, investigated by the inspector pursuant to this Division;



"relevant authority", in relation to a direction or in relation to an
investigation that is carried out, or is to be carried out, pursuant to a
direction, means-

   (a)  in the case of a direction given by the Minister other than a
        direction that has been approved by the Ministerial Council under
        sub-section 16 (6)-the Minister; or

   (b)  in the case of a direction given by the Ministerial Council or
        approved by the Ministerial Council under sub-section 16 (6)-the
        Ministerial Council.

(2) Where 2 or more inspectors have been appointed under this Division to
investigate particular matters relating to dealing in securities, each of
those inspectors may exercise his powers or perform his functions under this
Division independently of the other inspector or inspectors.

(3) In relation to an investigation carried out by the Commission into matters
relating to dealing in securities-

   (a)  a reference in section 19, 21, 32 or 35 to an inspector shall be read
        as a reference to a member of the Commission or to an authorized agent
        of the Commission; and

   (b)  the reference in section 34 to an inspector shall be read as a
        reference to the Commission.

(4) The reference in sub-section (3) to an authorized agent of the Commission
shall be read as a reference to-

   (a)  an employee of the Commission;

   (b)  a person whose services are available to the Commission by virtue of
        arrangements made under sub-section 24 (1) or (2) of the
        National Companies  and Securities Commission Act 1979 ; or

   (c)  a person engaged under sub-section 25 (1) of that Act, who is
        authorized by the Commission to act on behalf of the Commission in
        connection with the investigation concerned.

(5) In relation to an investigation carried out pursuant to a prescribed
direction into matters relating to dealing in securities, a reference in
section 21, 30 (other than sub-section (4)) or 35 to the Commission shall be
read as a reference to the relevant authority.