Document ID: chunk:federal_register_of_legislation:C2024C00826:section:248
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 248
Character Range: 575285–576455

248  Minister may direct investigations
 (1) If, in the Minister's opinion, it is in the public interest in relation to this jurisdiction for a particular matter to which subsection (2) applies to be investigated, he or she may by writing direct ASIC to investigate that matter.
 (2) This subsection applies to a matter relating to any of the following:
 (a) an alleged or suspected contravention of the Commonwealth credit legislation;
 (b) an alleged or suspected contravention of a law of the Commonwealth, or a law of a referring State or a Territory, being a contravention that:
 (i) concerns the management, conduct or affairs of a licensee, credit representative or other person who engages, or has engaged, in a credit activity; or
 (ii) involves fraud or dishonesty and relates to a credit activity engaged in by a person, or a credit contract, mortgage, guarantee or consumer lease;
 (c) a credit activity engaged in by a person.
 (3) ASIC must comply with a direction under subsection (1).
 (4) A direction under subsection (1) does not prevent ASIC from delegating a function or power.
 (5) A direction under subsection (1) is not a legislative instrument.