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Duties of the Committee
Section 243 of the Australian Securities and
Investments Commission Act 2001 sets out the Parliamentary Committee's
duties as follows:
(a) to inquire into, and
report to both Houses on:
(i) 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
(ii) 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
(b) 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
(c) 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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