Australian Securities and Investments Commission Act 1989
12Directions by Minister
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12 Directions by Minister
(1) The Minister may give the Commission a written direction about policies it should pursue, or priorities it should follow, in performing or exercising any of its functions or powers under a national scheme law of this jurisdiction. (2) The Minister shall not give a direction under subsection (1) unless he or she has: (a) notified the Commission in writing that he or she is considering giving the direction; and (b) given the Chairperson an adequate opportunity to discuss with the Minister the need for the proposed direction. (3) The Minister shall not give a direction under subsection (1) about a particular case. (4) The Commission shall comply with a direction under subsection (1). (5) The Minister shall cause a copy of an instrument under subsection (1): (a) to be published in the Gazette within 21 days after the instrument is made; and (b) to be laid before each House of the Parliament within 15 sitting days of that House after the publication; but failure of the Minister to do so does not affect the instrument’s validity.