Australian Securities and Investments Commission Act 1989
12ACDivision extends to some conduct outside Australia
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12AC Division extends to some conduct outside Australia
(1) This Division extends to the engaging in conduct outside Australia by: (a) bodies corporate incorporated or carrying on business within Australia; or (b) Australian citizens; or (c) persons ordinarily resident within Australia. (2) If a claim under section 12GF is made in a proceeding, a person may rely at a hearing in respect of that proceeding on conduct to which a provision of this Division extends because of subsection (1) of this section only if the Minister consents in writing to the reliance. (3) A person other than the Minister or the Commission may apply to the Court for an order under subsection 12GM(1) or (2) in a proceeding in respect of conduct to which a provision of this Division extends because of subsection (1) of this section only if the Minister consents in writing to the application. (4) The Minister must give a consent under subsection (2) or (3) in respect of a proceeding unless, in the Minister’s opinion: (a) the law of the country in which the conduct concerned was engaged in required or specifically authorised the engaging in of the conduct; and (b) it is not in the national interest to give the consent.