Footnotes

Chapter 1 - Introduction

[1]        ASIC Act 2001, s. 243.

[2]        Parliamentary Joint Committee on Corporations and Financial Services, Report on the 2012–13  annual reports of bodies established under the ASIC Act, March 2014.

Chapter 2 - Oversight of the Takeovers Panel

[1]        The Takeovers Panel, About the Panel, http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=about/about_the_panel.htm, (accessed 21 October 2014).

[2]        The Takeover Panel, Summary of takeover provisions in Australia, http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=panel_process/summary_of_takeover_provisions_in_australia.htm, (accessed 21 October 2014).

[3]        The Takeover Panel, Role of the Takeovers Panel, http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=about/about_the_panel.htm, (accessed 21 October 2014).

[4]        Corporations Act 2001, s. 657A, s. 657D.

[5]        The Takeover Panel, Role of the Takeovers Panel, http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=about/about_the_panel.htm,   (accessed 21 October 2014).

[6]        Takeovers Panel, Annual Report 2012–13, p. 7.  

[7]        Takeovers Panel, Annual Report 2012–13, p. 8.

[8]        The Takeovers Panel, Panel members, http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=about/panel_members.htm, (accessed 19 October 2014); Takeovers Panel, Annual Report 2012–13, p. 1.

[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, pp 11–14.

[10]      Takeovers Panel, Annual Report 2012–13, p. 3.

[11]      Corporations Act 2001, s. 658A.

[12]      Takeovers Panel, Annual Report 2012–13, p. 5.

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

[14]      Mr Allan Bulman, Director, The Takeovers Panel, Committee Hansard, 28 March 2014, p. 1.

[15]      Rodd Levy and Neil Patak, The Takeovers Panel and Takeovers Regulations, edited by Ian Ramsay, Melbourne University Publishing Ltd, 2010, Chapter 7.

[16]      Findlaw Australia, Top 10 Takeovers reforms, http://www.findlaw.com.au/articles/1539/top-10-takeover-reforms.aspx, (accessed 20 March 2014).

[17]      Rodd Levy, Herbert Smith Freehills, Improving efficiencies in takeovers, 7 February 2013, http://www.herbertsmithfreehills.com/insights/legal-briefings/improving-efficiencies-in-takeovers, (accessed 20 March 2014).

[18]      Business Law Section of the Law Council of Australia, Report on the Survey on the Takeovers Panel conducted in May 2010, pp 4–12.

[19]      The Treasury, Takeovers issues – Treasury scoping paper, 2013, pp 1–3.

[20]      The Treasury, Answer to written question on notice 11 April 2014, received on 30 April 2014.

[21]      The Treasury, Answer to written question on notice 11 April 2014, received on 30 April 2014.

[22]      The Treasury, Answer to written question on notice 11 April 2014, received on 30 April 2014.

[23]      Business Law Section of the Law Council of Australia, Submission 2, pp 1–2.

[24]      Financial Services Institute of Australia, Submission 1, p. 1.

[25]      Financial Services Institute of Australia, Submission 1, p. 2.

[26]      Mr Alan Bulman, Takeovers Panel, Committee Hansard, 28 March 2014, p. 3.

[27]      Committee Hansard, 28 March 2014, pp 6–7.

[28]      Committee Hansard, 28 March 2014, p. 2.

[29]      Committee Hansard, 28 March 2014, p. 2.

[30]      Committee Hansard, 28 March 2014, pp 2–3.

[31]      Committee Hansard, 28 March 2014, p. 5.

[32]      Committee Hansard, 28 March 2014, p. 7.

[33]      Committee Hansard, 28 March 2014, p. 7.

[34]      Committee Hansard, 28 March 2014, pp 6, 9–10.

[35]      Committee Hansard, 28 March 2014, p. 10–11.

Chapter 3 - Oversight of ASIC

[1]        Financial System Inquiry, http://fsi.gov.au/, (accessed 22 October 2014).

[2]        Financial System Inquiry, http://fsi.gov.au/, (accessed 22 October 2014).

[3]        Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, recommendation 52, pp xvii–xxii, 485.

[4]        Senate Economics Reference Committee, Media Release, 26 June 2014.

[5]        Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, p. xxxiii.

[6]        Senator the Hon Mathias Cormann, Minister for Finance, Acting Assistant Treasurer, Government response to the Senate inquiry into the performance of ASIC, media release, 24 November 2014; Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, pp xxv, xxviii, xxxi.

[7]        Mr Greg Kirk, Senior Executive Leader, Strategy Group, ASIC, Committee Hansard, 5 September 2014, p. 23.

[8]        Mr Warren Day, Senior Executive Leader, Assessment and Intelligence and Victorian Regional Commissioner, Committee Hansard, 5 September 2014, p. 39.

[9]        Mr Warren Day, Senior Executive Leader, Assessment and Intelligence and Victorian Regional Commissioner, Committee Hansard, 5 September 2014, p. 39.

[10]      Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, recommendation 19, p. xxvii.

[11]      Australian Government, Australian Government response to the Senate Economics References Committee Report: Performance of the Australian Securities and Investments Commission, 24 October 2014, pp 10–11.

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

[13]      Senate Economics Legislation Committee, Annual reports (no. 1 of 2014), March 2014, p. 39.

[14]      ASIC Act, s. 136.

[15]      ASIC, Correspondence to the committee, 22 October 2014.

[16]      Committee Hansard, 28 March 2014, pp 13–14, 16, 17, 26.

[17]      Committee Hansard, 28 March 2014, p. 27.

[18]      ASIC Statement of Expectations and Statement of Intent, http://www.asic.gov.au/asic/asic.nsf/byheadline/Statement+of+expectations+and+statement+of+intent?openDocument, (accessed 11 September 2014).

[19]      Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, recommendation 52, p. 426.

[20]      Australian Government, Statement of Expectations –Australian Securities and Investments Commission, April 2014.

[21]      Mr John Price, Commissioner, ASIC, Committee Hansard, 5 September 2014, pp 9–10.

[22]      Mr Greg Medcraft, Chairman, ASIC, Committee Hansard, 5 September 2014, p. 12.

[23]      ASIC, Answer to question on notice, 5 September 2014, (received 3 October 2014).

[24]      ASIC, Answer to question on notice, 5 September 2014, (received 3 October 2014).

[25]      Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, recommendation 52, p. xxxiii.

[26]      ASIC, Answer to question on notice, 5 September 2014, (received 3 October 2014).

[27]      Pettus, A., Pay for progress: social impact bonds, Harvard Magazine, July August 2013, http://harvardmagazine.com/2013/07/social-impact-bonds (accessed 22 November 2013).

[28]      The Rockefeller Foundation is a philanthropic organisation in the USA devoted to funding impact based innovation around 4 themes: Revalue Ecosystems; Advance Health; Secure Livelihoods; and Transform Cities. For more information see: http://www.rockefellerfoundation.org/

[29]      Joseph, J., 'Social Innovation in Acceleration: Building the Social Impact Bond Ecosystem', Forbes, 4 November 2013, available at http://www.forbes.com/sites/skollworldforum/2013/04/11/building-the-social-impact-bond-ecosystem/ (accessed 22 November 2013).

[30]      Social Finance UK, http://www.socialfinance.org.uk/work/sibs (accessed 25 November 2013).

[31]      Social Finance UK, http://www.socialfinance.org.uk/resources/social-finance/social-impact-bonds-one-service-one-year (accessed 25 November 2013).

[32]      Senate Economics References Committee, Investing for good: the development of a capital market for the not-for-profit sector in Australia, November 2011, p. 150.

[33]      McKinsey and Company, From Potential to Action: Bringing Social Impact Bonds to the U.S. May 2012, http://mckinseyonsociety.com/social-impact-bonds/, (accessed 22 November 2013).

[34]      Productivity Commission, 'Key Points', Contribution of the not-for-profit sector, 11 February 2010.

[35]      Productivity Commission, 'Key Points', Contribution of the not-for-profit sector, 11 February 2010.

[36]      Senate Economics References Committee, Investing for good: the development of a capital market for the not-for-profit sector in Australia, November 2011, p. xix.

[37]      Senate Economics References Committee, Investing for good: the development of a capital market for the not-for-profit sector in Australia, November 2011, p. xix.

[38]      Senate Economics References Committee, Investing for good: the development of a capital market for the not-for-profit sector in Australia, November 2011, p. 132.

[39]      Senate Economics References Committee, Investing for good: the development of a capital market for the not-for-profit sector in Australia, November 2011, p. 132.

[40]      Senate Economics References Committee, Investing for good: the development of a capital market for the not-for-profit sector in Australia, November 2011, pp 157–158.

[41]      Senate Legal and Constitutional Affairs References Committee, Value of a justice reinvestment approach to criminal justice in Australia, June 2013, p. 61.

[42]      NSW Treasury, 'Social benefit bonds trial in NSW', available at http://www.treasury.nsw.gov.au/site_plan/social_benefit_bonds/social_benefit_bonds_trial_in_nsw_FAQs, (accessed 25 November 2013).

[43]      NSW Treasury, 'Social benefit bonds trial in NSW', available at http://www.treasury.nsw.gov.au/site_plan/social_benefit_bonds/social_benefit_bonds_trial_in_nsw_FAQs

[44]      ASIC, Answer to question on notice, 28 March 2014, (received 9 May 2014).

[45]      Lee Suckling, A Guide to Bitcoin, Sydney Morning Herald, 1 June 2013.

[46]      Daniel Miller, Bitcoin explained: the digital currency making millionaires, ABC News, 13 December 2013.

[47]      Alan L Tyree, Bitcoin, 29 June 2011, http://austlii.edu.au/~alan/bitcoin.html, (accessed 22 October 2014).

[48]      Daniel Miller, Bitcoin explained: the digital currency making millionaires, ABC News, 13 December 2013.

[49]      Alan L Tyree, Bitcoin, 29 June 2011, http://austlii.edu.au/~alan/bitcoin.html, (accessed 22 October 2014).

[50]      Roundtree, D, Champing at the Bitcoin: Bitcoin, Regulators and the Law, Communications Law Bulletin, Vol 32.4, October 2013.

[51]      Australian Taxation Office, Tax treatment of crypto-currencies in Australia – specifically Bitcoin, https://www.ato.gov.au/general/gen/tax-treatment-of-crypto-currencies-in-australia---specifically-bitcoin/, 20 August 2014, (accessed 16 October 2014).

[52]      ASIC, Answer to question on notice, 28 March 2014, (received 9 May 2014).

[53]      Australian Securities and Investments Commission, ASIC supervision of markets and participants: July to December 2012, Report 327, February 2013, p. 4.

[54]      Australian Securities and Investments Commission, Dark liquidity and high-frequency trading Report 331, March 2013, p. 5.

[55]      Australian Securities and Investments Commission, Dark liquidity and high-frequency trading, Report 331, March 2013, p. 12.

[56]      Parliamentary Joint Committee on Corporations and Financial Services, Statutory Oversight of the Australian Securities and Investments Commission, Number 2, May 2013, p. 26.

[57]      Australian Securities and Investments Commission, Dark liquidity and high-frequency trading, Report 331, March 2013, pp 12–13.

[58]      Parliamentary Joint Committee on Corporations and Financial Services, Statutory Oversight of the Australian Securities and Investments Commission, Number 2, May 2013, p. 27.

[59]      ASIC, media release 14-105MR, ASIC reports on dark liquidity rules, 19 May 2014.

[60]      Mr Greg Medcraft, Chairman, ASIC, Opening statement, 28 March 2014, pp 7–8.

[61]      Mr Greg Medcraft, Chairman, ASIC, Committee Hansard, 5 September 2014, p. 34.

[62]      ASIC, Media Release, 14-055MR, ASIC reports on penalties for corporate wrongdoing, 20 March 2014.

[63]      ASIC, Media Release, 14-055MR,  ASIC reports on penalties for corporate wrongdoing, 20 March 2014.

[64]      Mr Greg Medcraft, Chairman, ASIC, Committee Hansard, 28 March 2014, p. 16.

[65]      Mr Greg Medcraft, Chairman, ASIC, Committee Hansard, 5 September 2014, p. 34.

[66]      Mr Sean Hughes, Committee Hansard, 5 September 2015, p. 5.

[67]      Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, p. xxi.

[68]      Senate Economics References Committee, Performance of the Australian Securities and Investments Commission, June 2014, p. xxxi.

[69]      Australian Government, Australian Government response to the Senate Economics References Committee Report: Performances of the Australian Securities and Investments Commission, 24 October 2014, p. 21.

[70]      Financial System Inquiry, Interim Report, July 2014, p. xxxvii.

[71]      Financial System Inquiry, Interim Report, July 2014, p. 3-125.

[72]      Financial System Inquiry, Interim Report, July 2014, p. 3-127.

[73]      Mr Sean Hughes, Committee Hansard, 5 September 2015, p. 6.

[74]      Mr Greg Medcraft, Chairman, ASIC, Committee Hansard, 5 September 2014, p. 34.

[75]      Ms Cathie Armour, Commissioner, ASIC, Committee Hansard, 5 September 2014, p. 34.

[76]      Mr Chris Savundra, Senior Executive Leader, Markets Enforcement, ASIC, Committee Hansard, 5 September 2015, p. 35.

[77]      ASIC, Supplementary submission 45.2 to Submission 45, p. 13.