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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.
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