Offences
- Misleading or deceptive conduct
- False or misleading representations
- False or misleading representations in relation to financial products that involve interests in land
- Cash price to be stated in certain circumstances
- Offering rebates, gifts, prizes etc
- Certain misleading conduct in relation to financial services
- Bait advertising
- Referral selling
- Accepting payment without intending or being able to supply as ordered
- Pyramid selling of financial products
- Unsolicited credit cards and debit cards
- Assertion of right to payment for unsolicited financial services etc.
- Assertion of right to payment for unauthorised advertisements
- Power of Court to prohibit payment or transfer of money or other property
- Examination to take place in private
- Examinee’s lawyer may attend
- Record of examination
- Giving to other persons copies of record
- Copies given subject to conditions
- ASIC may inspect books without charge
- Notice to produce books about affairs of body corporate or registered scheme
- Notice to auditors concerning information and books
- Notice to registered liquidators concerning information and books
- Notice to produce books about financial products
- Notice to produce books about financial services
- Notice to produce documents in person’s possession
- ASIC may authorise persons to require production of books, giving of information etc.
- Powers where books produced or seized
- Powers where books not produced
- Power to require person to identify property of body corporate
- ASIC may give copy of book relating to registered scheme to another person
- ASIC may give information and books in relation to Chapter 5 bodies corporate
- Acquisitions and disposals of financial products
- Acquisitions and disposals of trust property by trustee companies
- Exercise of certain powers of ASIC in relation to financial products
- Exercise of certain powers of ASIC in relation to trust property acquired or disposed of by trustee company
- Disclosures to take place in private
- Lawyer of person making disclosure may attend
- ASIC may cause prosecution to be begun
- Who may be present when hearing takes place in private
- Power to summon witnesses and take evidence
- Contempt of ASIC
- Concealing books relevant to investigation
- Legal professional privilege
- Notification of interests to ASIC
- Confidentiality
- Power to summon witnesses and take evidence
- False evidence
- Contempt of Panel
- Hearings
- Hearings
- Contempt of Disciplinary Board
- Financial Reporting Council’s information gathering powers
- Offences committed partly in and partly out of the jurisdiction
- S.12GB Offences against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)
- S.12GBCG Civil proceedings after criminal proceedings
- S.12GC Enforcement and recovery of certain fines against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)
- S.12GI Defences (Unconscionable conduct and consumer protection in relation to financial services)
- 12GLB ASIC Act Punitive orders requiring adverse publicity (Unconscionable conduct and consumer protection in relation to financial services)
- Part 3B Australian Securities and Investments Commission
- ASIC 19 Notice requiring appearance for examination (and the procedure)
- s.68 Australian Securities and Investments Commission
- s.69 Australian Securities and Investments Commission
- s.91 Australian Securities and Investments Commission
- 223 Australian Securities and Investments Commission
- 258 Australian Securities and Investments Commission
Powers where books produced or seized
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Offence title: |
Powers where books produced or seized |
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Act: |
37 Australian Securities and Investments Commission Act |
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Offence: |
(1) This section applies where books are produced: (a) Under this Division; or (b) Under a warrant; or (c) By virtue of the previous application of ss.8; If paragraph (1)(b) applies, ss. (4) – (8) do not. (2) If (1)(a) applies a person may take possession of the books.
(3) The books may be inspected and copied or have extracts taken. (4) The books may be used in a proceeding. (5) The books may be retained for as long as necessary: (a) To exercise a power under this section, other than ss. (7); or (b) Purposes referred to in s. 28(a), (b) and (d), 30A(2)(a) and (b) and (d) or 30B(2)(a), (b) and (d), as the case requires; or (c) except in the case of books required to be produced for a purpose specified in subparagraph 30A(2)(a)(ii) or 30A(2)(b)(ii)—for a decision to be made about whether or not a proceeding to which the books concerned would be relevant should be begun; or (d) for such a proceeding to be begun and carried on. (6) No one is entitled to claim a lien, such a lien is not otherwise prejudiced.
(7) While being held, the holder: (a) Must allow them to be inspected, if they would otherwise be entitled to be inspected; and (b) May allow others to inspect them.
(8) The books may be delivered into the possession of ASIC or a person authorised to receive them.
(9) If (1)(a) or (b) applies or (8) applies, ASIC, or the authorised person, may require the person who delivers up the books or who compiled them to explain any matter related to them. (10) Proceeding includes a contravention of Div. 2 of Part 2 under Commonwealth, State or Territory law or any other proceeding under Commonwealth, State or Territory law. |
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Penalty: |
2 years imprisonment |
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Summary/Indictable/mixed: |
Mixed |
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Jurisdiction: |
Local, District or Supreme Court |
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How committed: |
Having provided the material sought in the Notice, where that material is lawfully caught by the operation of the Notice, failing to explain the material when required to do so. |
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Important note: |
s.63(1) states: A person must not intentionally or recklessly fail to comply with a requirement made under: (a) section 19; or (b) subsection 21(3); or (c) section 30, 30A, 30B, 31, 32A, or 34; or (d) subsection 37(9); or (e) section 38; or (f) section 39. Penalty: 2 years imprisonment. |