Australian Securities and Investments Commission Act 1989
125Notification of interests to Commission
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125 Notification of interests to Commission
(1) This section has effect where a person, in the course of: (a) performing functions or services as a staff member (otherwise than as a person appointed or engaged under the Public Service Act 1999); (b) performing a function, or exercising a power, as a Commission delegate; or (c) performing functions or services by way of assisting a Commission delegate; is required to consider a matter in which the person has a direct or indirect pecuniary or other interest that could involve a conflict with the proper performance or exercise by the person of those functions, services or powers. (2) The person shall forthwith give to the Commission a written notice: (a) stating that he or she is required to consider the matter and has an interest in it; and (b) setting out particulars of the interest. (3) The person shall do whatever is necessary to avoid the conflict referred to in subsection (1).
Penalty: 50 penalty units or imprisonment for 12 months, or both.