New South Wales Consolidated Acts

FINANCIAL SECTOR REFORM (NEW SOUTH WALES) ACT 1999 - SECT 7

7 Conferral of functions and powers on ASIC

(1) ASIC has the functions and powers conferred or expressed to be conferred on it by or under this Act.

(2) ASIC has power to do acts in New South Wales in the performance or exercise of any function or power conferred or expressed to be conferred on ASIC by or under a law of another jurisdiction corresponding to this Act.

(3) Without limiting the operation of section 31 of the Interpretation Act 1987 , this section does not purport to impose a duty on ASIC to perform any function or exercise any power conferred or expressed to be conferred on it by or under this Act if the imposition of the duty would be beyond the legislative power of the Parliament of the State.