Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p45
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 115524–118484

prospectus, within the meaning of this Law as in force before the commencement of item 65 of Schedule 2 to the Amending Act, lodged before that commencement:

     (a) the following provisions of this Law, as in force after that commencement, do not apply:

      (i) section 622;

      (ii) section 1029;

     (iii) section 1033; and

SCHEDULE 5—continued

  (b) the following provisions of this Law, as in force before that commencement, continue to apply:

    (i) section 622;

    (ii) sections 1029 and 1029A;

   (iii) section 1033.".

                         SCHEDULE 6 Section 9

AMENDMENTS OF THE AUSTRALIAN SECURITIES COMMISSION ACT RELATING TO DISCLOSURE OF INFORMATION AND ADVICE ABOUT OPERATION OF CERTAIN PROVISIONS

1. After subsection 127(4):

  Insert:

"(4A) The Chairperson may impose conditions to be complied with in relation to information disclosed under subsection (4).

"(4B) The disclosure of information to a body corporate specified in regulations under subsection (4C) is authorised use and disclosure of the information if:

     (a) the Chairperson is satisfied that the information will enable or assist the body corporate to monitor compliance with, enforce, or perform functions or exercise powers under:

      (i) the Corporations Law of a State or internal Territory; or

        (ii) the business rules, or the listing rules (if any), of the body corporate; and

     (b) the disclosure is by a person authorised by the Chairperson for the purpose.

"(4C) The regulations may specify a body corporate for the purposes of subsection (4B) if, and only if, the body corporate:

  (a) conducts a stock market or a futures market; or

     (b) is the securities clearing house or a clearing house for a futures exchange.

"(4D) The Chairperson may impose conditions to be complied with by a body corporate and its officers, employees and agents in relation to information disclosed to the body corporate under subsection (4B).

"(4E) A person must comply with a condition imposed under subsection (4D).

Penalty: $10,000 or imprisonment for 2 years, or both.

"(4F) If information is disclosed to a body corporate under subsection (4B), the body corporate, or an officer, employee or agent of the body corporate, must not, without the written consent of the Chairperson:

     (a) disclose the information to a person who is not an officer, employee or agent of the body corporate; or

     (b) use the information otherwise than for the purpose of monitoring compliance with, enforcing, or performing functions or exercising powers under:

SCHEDULE 6—continued

      (i) the Corporations Law of a State or internal Territory; or

      (ii) the business rules, or the listing rules (if any), of the body corporate.

Penalty: $10,000 or imprisonment for 2 years, or both.".

2. Subsection 127(5):

  Insert ", (4A), (4B), (4D) or (4F)" after "subsection (4)".

3. Subsection 127(6):

  Omit "and (4)", substitute ", (4)