Provision of information and assistance to ASIC

In force

(1)

The Minister is authorised, on his or her own initiative or at the request of ASIC—

(a)

to provide ASIC with the documents and other information in the possession or control of the Minister that are reasonably required by ASIC in connection with the performance or exercise of its functions or powers under the National credit legislation; and

(b)

to provide ASIC with other assistance that is reasonably required by ASIC to perform or exercise a function or power under the National credit legislation.

(2)

Subsection (1) applies despite any other Act or law.

(3)

The Minister is authorised to do an act or thing under this section before the commencement of the National credit legislation.

This Act’s bill:Explanatory memorandum Second reading speech

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28 Provision of information and assistance to ASIC