CTHRepealedAct
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.