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Members of the Committee
Senator Grant Chapman, Chairman
Ms Anna
Burke MP, Deputy Chair
Senator George Brandis
Senator Kate Lundy
Senator Andrew Murray
Senator Penny Wong
Mr Kerry
Bartlett MP
Mr Chris Bowen MP
The Hon Jackie Kelly MP
Mr Stewart
McArthur MP
SECRETARIAT
Dr Sarah Bachelard, Secretary
Dr Anthony
Marinac, Acting Secretary
Ms Julie
Dennett, Principal Research Officer
Ms Loes
Slattery, Senior Research Officer
Ms Laurie Cassidy,
Executive Assistant
Duties of the Committee
Section
243 of the Australian Securities and Investments Commission Act 2001
sets out the duties of the committee as follows:
The
Parliamentary Committee's duties are:
- to inquire into, and
report to both Houses on:
- activities of ASIC or
the Panel, or matters connected with such activities, to which, in the
Parliamentary Committee's opinion, the Parliament's attention should be
directed; or
- the operation of the
corporations legislation (other than the excluded provisions), or of any other
law of the Commonwealth, of a State or Territory or of a foreign country that
appears to the Parliamentary Committee to affect significantly the operation of
the corporations legislation (other than the excluded provisions); and
- to examine each annual report that
is prepared by a body established by this Act and of which a copy has been laid
before a House, and to report to both Houses on matters that appear in, or
arise out of, that annual report and to which, in the Parliamentary Committee's
opinion, the Parliament's attention should be directed; and
- to inquire into any question in
connection with its duties that is referred to it by a House, and to report to
that House on that question
Terms of Reference
On 2 December 2004, the Parliamentary Joint Committee on Corporations and Financial
Services resolved to inquire into the Australian Accounting Standards tabled in
compliance with the Corporations Act 2001 in the Senate on 30 August 2004 and 16
November 2004. The committee
will consider:
- whether the proposed standards are consistent with the Corporations
Act 2001 and its regulations (as required under s. 334(1) of the Act);
- whether the proposed standards will act in furtherance of the objectives
of the Act; and
- any related matter.
The committee will report to both houses of parliament on 8 February 2005.
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