CTHRepealedAct
Australian Securities and Investments Commission Act 1989
102Delegation
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#### 102 Delegation
(1) The Commission may, by writing under its common seal, delegate to a person all or any of its functions and powers.
(2) The Commission shall not, without the Minister’s approval, delegate a function or power to a person other than:
(a) a member; or
(b) a staff member; or
(c) a person who, by virtue of the regulations, is a prescribed person in relation to the delegation; or
(d) a person appointed by APRA under section 45 of the Australian Prudential Regulation Authority Act 1998; or
(e) a member of the staff of the Australian Competition and Consumer Commission referred to in subsection 27(1) of the Trade Practices Act 1974.
(2A) The Commission must not delegate a function or power to an APRA staff member within the meaning of the Australian Prudential Regulation Authority Act 1998, unless the Chief Executive Officer of APRA has agreed to the delegation in writing.
(2B) The Commission must not delegate a function or power to:
(a) a person referred to in paragraph (2)(e); or
(b) a person engaged under section 27A of the Trade Practices Act 1974;
unless the Chairperson of the Australian Competition and Consumer Commission has agreed to the delegation in writing.
(3) In subsections (1) and (2):
> person includes a body.
(4) In exercising its power under subsection (1), the Commission shall seek to ensure that:
(a) the persons who make decisions affecting a particular business community are located as close to that community as practicable; and
(b) members of business communities throughout Australia have prompt and convenient access to decision‑making and to the Commission’s facilities.
(5) In the performance of a function, or the exercise of a power, delegated under this section, the delegate is subject to the Commission’s directions.
(6) Where a function or power conferred on the Commission by or under a law (including this Law) and delegated under this section is performed or exercised by the delegate, it shall, for the purposes of that law and this Law, be deemed to have been performed or exercised by the Commission.
(7) Where a body to which a function or power is delegated under this section is not a person, section 109ZF of the Corporations Law applies as if it were.
(8) If this section is being applied as a law of a State, it applies only in relation to functions and powers conferred by a national scheme law.