Document ID: chunk:federal_register_of_legislation:C2007A00074:clause:1_136
Version: federal_register_of_legislation:C2007A00074
Segment Type: clause
Provision Reference: sch 1 cl 136
Character Range: 7453–9673

136  Annual reports

Annual report to be given to Minister

 (1) The Chairperson must, as soon as practicable after 30 June in each financial year, prepare and give to the Minister a report on ASIC's operations during that financial year.

Note: Section 34C of the Acts Interpretation Act 1901 contains provisions relating to annual reports.

Contents of annual report

 (2) A report under subsection (1) must include the following:
 (a) a description of the specific goals ASIC has pursued, and the priorities it has followed, during the year, in performing its functions, exercising its powers and pursuing the objects referred to in subsection 1(2) of this Act;
 (b) a description of the progress ASIC has made during that year towards achieving those goals;
 (c) a description of any matters that, during that year, have adversely affected ASIC's effectiveness or have hindered ASIC in pursuing any of those goals and objectives;
 (d) a description of the performance indicators used by ASIC, and ASIC's performance against those indicators;
 (e) information about the exercise during the year of ASIC's powers under Part 15 of the Retirement Savings Accounts Act 1997 and under Part 29 of the Superannuation Industry (Supervision) Act 1993;
 (f) information about ASIC's monitoring and promotion of market integrity and consumer protection in relation to:
 (i) the Australian financial system; and
 (ii) the provision of financial services;
 (g) in relation to ASIC's functions under subsection 11(14), in relation to each agreement or arrangement entered into by ASIC under that subsection, information about the activities that ASIC has undertaken during the reporting period in accordance with that agreement or arrangement;
 (h) the financial statements required by section 49 of the Financial Management and Accountability Act 1997;
 (i) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1997.

Annual report to be tabled in Parliament

 (3) The Minister must cause a copy of each annual report to be tabled in each House within 15 sitting days of that House after the day on which the Minister receives the report.

Division 3—Liability to taxation