Credit (Commonwealth Powers) (Transitional and Consequential Provisions) Act 2010

The Commissioner may make an arrangement with ASIC about any matter connected with the administration of this Act.

In particular, an arrangement may provide —

for the performance of functions and the exercise of powers conferred by subsection (3) by ASIC; or

for the performance of functions or the exercise of powers of the Commissioner under this Act by staff members of ASIC.

Subject to subsection (4), ASIC has the functions and powers of the Commissioner under this Act.

ASIC must not perform a function or exercise a power conferred by subsection (3) except in accordance with an arrangement under this section.