Footnotes

Chapter 1 - Scrutiny of annual reports

[1]        ASIC Act 2001, s. 243 (b).

[2]        ASIC Act 2001, Parts 2, 9–12.

[3]        The Hon Lionel Bowen MP, Attorney-General, House of Representatives Hansard, Second Reading Speech, Australian Securities Commission Bill 1988, 25 May 1988, p. 2991. The ASIC Act predominantly replicates the administrative structure established in the Australian Securities and Investments Commission Act 1989. Section 261 of the ASIC Act 2001 directs that bodies established under the Australian Securities Commission Act continue in existence as if they had been established under the ASIC Act 2001.

[4]        ASIC Act 2001, s. 235J.

[5]        ASIC Act 2001, s. 236DG.

[6]        The Senate, Standing Orders and other orders of the Senate, June 2009, p. 28.

Chapter 2 - Bodies established under Parts 9–11 of the ASIC Act

[1]        Corporations Act 2001, Part 9.2, Division 3.

[2]        CALDB, Annual report: 2013 –14, p. 3.

[3]        ASIC Act 2001, s. 214.

[4]        CALDB, Annual report: 2013 –14, p. 6.

[5]        CALDB, Annual report: 2013–14, p. 6.

[6]        CALDB, Annual report: 2013–14, pp 6, 9.

[7]        Corporations Act 2001, s, 1317B; Administrative Decisions (Judicial Review) Act 1977, s. 5.

[8]        CALDB, Annual report: 2013–14, p. 8.

[9]        Parliamentary Joint Committee on Corporations and Financial Service, report on the 2012–13 annual reports of bodies established under the ASIC Act, March 2014, p. 8; CALDB, Annual report: 2013–14, pp 6, 8, 11.

[10]      Senate Economics Legislation Committee, Annual report (No. 1 of 2013), March 2013, p. 28; CALDB, Annual report: 2013–14, pp iii, 9, 10.

[11]      Prior to 2001, CAMAC existed as the Companies and Securities Advisory Committee. Section 261 of the ASIC Act directs that bodies established under the Australian Securities Commission Act 1989 continue in existence as if they had been established under the ASIC Act.

[12]      ASIC Act 2001, s. 1(1)(c).

[13]      ASIC Act 2001, s. 148.

[14]      CAMAC, Annual report: 2013–14, p.18.

[15]      CAMAC, Annual report: 2013–14, pp 24–26.

[16]      CAMAC, Annual report: 2013–14, p. 24.

[17]      CAMAC, Annual report: 2013–14, p. 26.

[18]      CAMAC, Annual report: 2013–14, pp 26–27.

[19]      Commission of Audit, Towards Responsible Government: Appendix to the Report of the National Commission of Audit, Volume 3, March 2014, p. 171.

[20]      Budget 2014–15, Budget Measures, Budget Paper No. 2, 2014–15, p. 71.

[21]      Treasury, Cessation of the Corporations and Markets Advisory Committee (CAMAC), exposure draft, http://www.treasury.gov.au/ConsultationsandReviews/Consultations/2014/CAMAC, (accessed 30 March 2015).

[22]      Australian Securities and Investments Commission Amendment (Corporations and markets Advisory Committee Abolition) Bill 2014, http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5386, (accessed 30 March 2015).

[23]      Australian Securities and Investments Commission Amendment (Corporations and markets Advisory Committee Abolition) Bill 2014, Explanatory Memorandum, p. 5.

[24]      Australian Securities and Investments Commission Amendment (Corporations and markets Advisory Committee Abolition) Bill 2014, Explanatory Memorandum, p. 3.

[25]      The Hon Steven Ciobo, House of Representatives Hansard, 4 December 2014, p. 14245.

[26]      The Hon Steven Ciobo, House of Representatives Hansard, 4 December 2014, p. 14246.

[27]      Journals of the Senate, No. 78, 12 February 2015, p. 2156.

[28]      Senate Economics Legislation Committee, Australia Securities and Investments Commission Amendment (Corporations and Markets Advisory Committee Abolition) Bill 2014 [Provisions], March 2015, p. 5.

[29]      Senate Economics Legislation Committee, Australia Securities and Investments Commission Amendment (Corporations and Markets Advisory Committee Abolition) Bill 2014 [Provisions], March 2015, p. 12.

[30]      CAMAC, Annual report: 2013–14, pp 8–9.

[31]      CAMAC, Annual report: 2013–14, pp 4–5.

[32]      CAMAC, Annual report: 2013–14, pp 5–6.

[33]      CAMAC, Annual report: 2013–14, p. 10.

[34]      Corporations Legislation Amendment (Deregulatory and Other Measures) Bill 2014, http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5359, (accessed 31 March 2015).

[35]      Corporations Act 2001, s. 657A. Corporations Act 2001, s. 657A.

[36]      Corporations Act 2001, Part 6.10, Division 2.

[37]      Corporations Act 2001, s. 658C.

[38]      Takeovers Panel, Annual Report 2013–14, p. 7.

[39]      Takeovers Panel, Annual Report 2013–14, p. 4; Takeovers Panel, Annual Report 2012–13, p. 4.

[40]      Australian Securities and Investments Commission Act 2001, s. 172.

[41]      Takeovers Panel, Annual Report 2013–14, p. 23.

[42]      Takeovers Panel, Annual Report 2013–14, p. 3.

[43]      Takeovers Panel, Annual Report 2013–14, p. 5.

[44]      Ian Ramsay, The Takeovers Panel and Takeovers Regulation in Australia, Melbourne University Publishing Ltd, December 2010, p. 25.

[45]      Takeovers Panel, Annual Report 2013–14, p. 5.

[46]      Takeovers Panel, Annual Report 2013–14, pp 5, 20.

[47]      Takeovers Panel, Annual Report 2013–14, p. 21.

[48]      Takeovers Panel, Annual Report 2013–14, p. 5.

[49]      Takeovers Panel, Annual Report 2013–14, p. 4.

[50]      Takeovers Panel, Annual Report 2013–14, pp 8, 23.

[51]      Takeovers Panel, Annual Report 2013–14, pp 25, 31.

[52]      Parliamentary Joint Committee on Corporations and Financial Service, report on the 2012–13 annual reports of bodies established under the ASIC Act, March 2014, p. 14; Senate Economics Legislation Committee, Annual report (No. 1 of 2013)¸March 2013, p. 36; Takeovers Panel, Annual report: 2013–14, pp 31–34.

Chapter 3 - Bodies established under Part 12 of the ASIC Act

[1]        ASIC Act 2001, s. 224.

[2]        ASIC Act 2001, s. 225, s. 227, s. 227B.

[3]        Corporations Legislation Amendment (Audit Enhancement) Act 2012, Schedule 2.

[4]        ASIC, Annual report 2013–14, p. 163.

[5]        ASIC Act 2001, s. 235B.

[6]        ASIC Act 2001, s. 235J, s. 236DG.

[7]        ASIC Act 2001, ss. 225(2–2D).

[8]        ASIC Act 2001, ss. 225(5–8).

[9]        National Commission of Audit, Towards Responsible Government, Appendix volume 2, pp 170, 179.

[10]      FRC, Annual report: 2013–14, p. 10.

[11]      Section 261 of the ASIC Act directs that bodies established under the Australian Securities and Investments Commission Act 1989 continue in existence as if they had been established under the ASIC Act 2001.

[12]      ASIC Act 2001, ss. 225(1).

[13]      Corporations Legislation Amendment (Audit Enhancement) Act 2012, schedule 2.

[14]      ASIC Act 2001, ss. 225 (2B–C).

[15]      ASIC Act 2001, ss. 225(2), ss. 225(2A).

[16]      ASIC Act 2001, paragraph 224(b)(ii).

[17]      ASIC Act 2001, ss. 225(2), ss. 225(2A).

[18]      FRC, Annual report: 2013–14, p. 9.

[19]      FRC, Annual report: 2013–14, pp 2–3.

[20]      FRC, Annual report: 2013–14, pp 1, 4.

[21]      FRC, Annual report: 2013–14, pp. 5–6.

[22]      ASIC Act 2001, s. 224, s. 227A, s. 227B.

[23]      ASIC Act 2001, s. 227B; Corporations Act 2001, s. 336.

[24]      ASIC Act 2001, s. 227B.

[25]      ASIC Act 2001, s. 227AB.

[26]      AUASB, Annual report: 2013–14, p. 18.

[27]      AUASB, Annual report: 2013–14, pp 3–5.

[28]      AUASB, Annual report: 2013–14, pp 11–12.

[29]      AUASB, Annual report: 2013–14, p. 4.

[30]      IAASB, New and Revised Auditor reporting Standards and Related Conforming Amendments, https://www.ifac.org/news-events/2015-01/iaasb-issues-final-standards-improve-auditors-report, (accessed 9 April 2015).

[31]      AUASB, Annual report: 2013–14, pp 4–5.

[32]      AUASB, Annual report: 2013–14, pp 5–6.

[33]      AUASB, Annual report: 2013–14, p. 6.

[34]      AUASB, Annual report: 2013–14, pp 7–9.

[35]      Parliamentary Joint Committee on Corporations and Financial Service, report on the 2009–10 annual reports of bodies established under the ASIC Act, February 2011, p. 3.

[36]      AUASB, Annual report: 2013–14, p. 10.

[37]      Parliamentary Joint Committee on Corporations and Financial Service, report on the 2012–13 annual reports of bodies established under the ASIC Act, March 2014, p. 26; Senate Economics Legislation Committee, Annual report (No. 1 of 2013)¸March 2013, p. 21; AUASB, Annual report: 2013–14, pp 39–42, 87–88, 101.

[38]      Section 261 of the ASIC Act directs that bodies established under the Australian Securities and Investments Commission Act 1989 continue in existence as if they had been established under the ASIC Act 2001.

[39]      ASIC Act 2001, s. 227.

[40]      ASIC Act 2001, s. 226A.

[41]      AASB, Annual report: 2013–14, p. 8.

[42]      AASB, Annual report: 2013–14, p. 3.

[43]      AASB, Annual report: 2013–14, pp 3–4.

[44]      AASB, Annual report: 2013–14, p. 3.

[45]      AASB, Annual report: 2013–14, pp 18–30.

[46]      AASB, Annual report: 2013–14, pp 111–115.

[47]      Parliamentary Joint Committee on Corporations and Financial Service, report on the 2012–13 annual reports of bodies established under the ASIC Act, March 2014, p. 29; Senate Economics Legislation Committee, Annual report (No. 1 of 2013)¸March 2013, p. 22; AASB, Annual report: 2013–14, pp 44–46, 89.

Chapter 4 - ASIC's 2013–14 Annual Report

[1]        The Senate, Standing Orders and other orders of the Senate, February 2014, p. 28.

[2]        ASIC, Annual Report 2013–14, pp 4, 7, 24, 42–45; Senate Economics Legislation Committee, Annual reports (No. 1 of 2015), March 2015, pp 32–33.

[3]        Senate Economics Legislation Committee, Annual reports (No. 1 of 2015), March 2015, p. 34.

[4]        ASIC Act, s. 136.

[5]        ASIC , Annual Report 2013 – 14, Letter of Transmittal, p. 1; Journals of the Senate, No. 62, 29 October 2014, p. 1651; House of Representatives, Votes and Proceedings, No. 79, 29 October 2014, p. 945.

[6]        ASIC Act, s. 136.

[7]        ASIC, Correspondence to the committee, 15 April 2015.

[8]        Parliamentary Joint Committee on Corporations and Financial Services, Statutory Oversight of the Australia Securities and Investments Commission, the Takeovers Panel and the Corporations Legislation, Report No.1 of the 44^th Parliament, p. 17.

[9]        ASIC, Annual Report 2013–14, p. 7.

[10]      Mr Peter Kell, Deputy Chairman, Australian Securities and Investments Commission, Committee Hansard, 28 November 2014, p. 30.

[11]      Gr Greg Tanzer, Commissioner, Australian Securities and Investments Commission, Committee Hansard, 20 March 2015, p. 17.

[12]      Mr Warren Day, Senior Executive Leader, Assessment & Intelligence, Australian Securities and Investments Commission, Committee Hansard, 28 November 2014, p. 30.

[13]      ASIC, Annual Report 2013–14, p. 161.

[14]      Ms Cathie Armour, Commissioner, Australian Securities and Investments Commission, Committee Hansard, 20 March 2015, p. 18.

[15]      ASIC, Annual Report 2013–14, p. 5; ASIC Annual Report 2012–13, p. 5.

[16]      Mr Greg Tanzer, Commissioner, Australian Securities and Investments Commission and Mr Warren Day, Senior Executive Leader, Assessment & Intelligence, Australian Securities and Investments Commission, Committee Hansard, 20 March 2015, pp 18–19.

[17]      ASIC, Annual Report 2013–14, p. 55.

[18]      Mr Greg Tanzer, Commissioner, Australian Securities and Investments Commission, Committee Hansard, 20 March 2015, p. 20.

[19]      Parliamentary Joint Committee on Corporations and Financial Services, Statutory Oversight of the Australia Securities and Investments Commission, the Takeovers Panel and the Corporations Legislation, Report No.1 of the 44^th Parliament, p. 17.