Victorian Consolidated Legislation

Corporations (Victoria) Act 1990 - SECT 60

Interpretation of some expressions in the ASIC Law, and the ASIC Regulations, of Victoria

60. Interpretation of some expressions in the ASIC Law, and the ASIC
Regulations, of Victoria



(1) In this Part, and in the ASIC Law, and the ASIC Regulations, of Victoria-



Advisory Committee means the Companies and Securities Advisory Committee
established by section 145 of the ASIC Act;



affairs, in relation to a body corporate, has the same meaning as in section
246AA of the Corporations Law;



assist, in relation to a Commission delegate, means-

   (a)  to perform functions-

   (i)  as a member, officer or employee of the Commission delegate; and

   (ii) in connection with the Commission delegate's performance or exercise
        of a function or power delegated under section 102 of the ASIC Law; or

   (b)  to perform services for the Commission delegate in connection with the
        Commission delegate's performance or exercise of a function or power
        delegated under section 102 of the ASIC Law;

Australia includes any external Territory to which the ASIC Act extends;



books includes-

   (a)  a register; and

   (b)  financial reports or financial records, however compiled, recorded or
        stored; and

   (c)  a document; and

   (d)  banker's books; and

   (e)  any other record of information;

Chairperson means-

   (a)  except in Part 11 of the ASIC Law or in relation to the Disciplinary
        Board-the Chairperson of the Commission; and

   (b)  in Part 11 of that Law or in relation to the Disciplinary Board-the
        Chairperson of the Disciplinary Board;

Commission means the Australian Securities and Investments Commission
established by section 7 of the ASIC Act;



Commission delegate means a person to whom, or a body to which, a function or
power is delegated under section 102 of the ASIC Law;

contravention, in relation to a law, includes an ancillary offence relating to
an offence against that law;

court, except in section 248 of the ASIC Law, includes a tribunal having power
to require the production of documents or the answering of questions;

Deputy Chairperson means the Deputy Chairperson of the Commission;

Disciplinary Board means the Companies Auditors and Liquidators Disciplinary
Board established by section 202 of the ASIC Act;



eligible person, in relation to a person, means a person who-

   (a)  if the first-mentioned person is a body corporate-is or has been an
        officer of the body within the meaning of a national scheme law or a
        corresponding previous law; or

   (b)  in any case-

   (i)  is or has been an employee, agent, banker, lawyer or auditor of; or

   (ii) is acting, or has acted, in any other capacity on behalf of- the
        first-mentioned person;

examination means-

   (a)  in this section and Part 3 (other than section 27(2) and Division 9)
        of the ASIC Law-an examination of a person pursuant to a requirement
        made under section 19 of that Law; or

   (b)  in section 27(2) and Division 9 of Part 3 of the ASIC Law-an
        examination of a person pursuant to a requirement made under section
        19 of the ASIC Law or a corresponding provision of the ASIC Law of
        another jurisdiction;

expenses, in relation to an investigation under Division 1 of Part 3 of the
ASIC Law, includes costs and expenses incurred in relation to a proceeding
begun under section 50 of the ASIC Law as a result of the investigation;

fail means refuse or fail;

foreign country means-

   (a)  an external Territory to which the ASIC Act does not extend; or

   (b)  a country outside Australia and the external Territories; or

   (c)  a part of such a country;

give has-

   (a)  in relation to a document-a meaning affected by section 86 of the ASIC
        Law; and

   (b)  in relation to information-a meaning affected by section 61 of this
        Act;

hearing, in this section and Part 3 of the ASIC Law, means a hearing before
the Commission and, in sections 52, 54, 55 and 56 of that Law, includes a part
of such a hearing;

information has a meaning affected by section 61 of this Act;

investigate, in relation to the Commission, means investigate in the course of
performing or exercising any of the Commission's functions and powers;

meeting means-

   (a)  in Part 4 of the ASIC Law-a meeting of the Commission; and

   (b)  in Part 11 of that Law-a meeting of the Disciplinary Board;

member means-

   (a)  except in Division 2 of Part 4, or in Part 10, 11, or 14, of the ASIC
        Law, or in relation to a Division of the Commission, or in relation to
        the Panel or the Disciplinary Board-a member of the Commission;

   (b)  in Part 10 of that Law or in relation to the Panel-a member of the
        Panel;

   (c)  in Part 11 of that Law or in relation to the Disciplinary Board-the
        Chairperson or any other member of the Disciplinary Board;

national scheme law means-

   (a)  the following-

   (i)  the Corporations Law of this jurisdiction;

   (ii) the ASIC Law of this jurisdiction;

   (iii) this Act; or

   (b)  the following-

   (i)  the Corporations Act;

   (ii) the Corporations Law of the Capital Territory;

   (iii) the ASIC Act; or

   (c)  a law of a jurisdiction (other than this jurisdiction or the Capital
        Territory) that corresponds to an Act or Law referred to in paragraph
        (a);

national scheme law of this jurisdiction means-

   (a)  this Act;

   (b)  the Corporations Law of Victoria; or

   (c)  the ASIC Law of Victoria;

officer, in relation to a body corporate, includes-

   (a)  a director, secretary, executive officer or employee of the body;

   (b)  a receiver, or a receiver and manager, of property of the body;

   (c)  an administrator of the body or an administrator of a deed of company
        arrangement executed by the body;

   (d)  a liquidator, or a provisional liquidator, of the body; and

   (e)  a trustee or other person administering a compromise or arrangement
        made between the body and any other person or persons;

Panel means the Corporations and Securities Panel established by section 171
of the ASIC Act;

power includes an authority;

prescribed means prescribed by the ASIC Law or the regulations;



President means the President of the Panel;

proceeding means-

   (a)  a proceeding in a court; or

   (b)  a proceeding or hearing before, or an examination by or before, a
        tribunal- whether the proceeding, hearing or examination is of a
        civil, administrative, criminal, disciplinary or other nature;

produce, except in Part 3 of the ASIC Law, includes permit access to;





property means any legal or equitable estate or interest (whether present or
future and whether vested or contingent) in real or personal property of any
description and includes a thing in action and money;

record, in relation to an examination, means the whole or a part of a record
made under section 24 of the ASIC Law of statements made at the examination;

regulations means the ASIC Regulations of this jurisdiction;



report includes an interim report;

staff member means-

   (a)  a member of the staff referred to in section 120(1) of the ASIC Act or
        a person employed under section 120(3) of that Act;

   (b)  a person engaged under section 121(1) of that Act; or

   (c)  any of the officers, employees and persons who under section 122 of
        that Act are to assist the Commission;

statement, in relation to an examination, includes a question asked, an answer
given, and any other comment or remark made, at the examination;

Territory means-

   (a)  the Capital Territory; or

   (b)  an external Territory to which the ASIC Act extends;

this Act, except in this Part, means the ASIC Law, and includes the
regulations;



this jurisdiction means Victoria;

this Law includes the regulations;

tribunal means-

   (a)  a tribunal in Australia; or

   (b)  any other body, authority or person in Australia having power, by law
        or by consent of parties, to hear, receive or examine evidence;

witness, in relation to a hearing before the Commission or the Panel, means a
person appearing at the hearing to give evidence;

written record, in relation to an examination, means-

   (a)  a record of the examination-

   (i)  that is made in writing; or

   (ii) as reduced to writing; or

   (b)  a part of such a record.

(2) Subject to the ASIC Law of this jurisdiction, an expression has the same
meaning in that Law and in the ASIC Regulations of this jurisdiction as in the
Corporations Law of this jurisdiction.