Oversight of ASIC, the Takeovers Panel and the Corporations Legislation
AUSTRALIA, June 28 - Under subsection of 243(a) of the Australian Securities and Investments Commission Act 2001, the committee has an ongoing statutory duty to inquire into the activities of ASIC and the Takeovers Panel, or matters connected with such activities, and the operation of the corporations legislation and related legislation (for a more comprehensive description of these duties, see the Terms of Reference page). This is an ongoing inquiry consistent with those statutory duties, which is expected to continue through the life of the 47th Parliament.
As part of its statutory duties to inquire into the activities of ASIC and the Takeovers Panel, or matters connected with such activities, and the operation of the corporations legislation and related legislation, the Parliamentary Joint Committee on Corporations and Financial Services is currently considering matters relating to the delayed implementation of the ASX CHESS Replacement Project, including the relevant oversight arrangements. This matter has been raised in the public hearings held so far this parliament on 5 December 2022 and 23 February 2023.
The committee is now seeking written submissions on this matter, closing on 4 May 2023.
Public hearing livestreams can be accessed via Watch, Read, Listen.
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