43Exercise of certain powers of the Commission in relation to securities

#### 43 Exercise of certain powers of the Commission in relation to securities (1) This section applies where the Commission considers that: (a) it may be necessary to exercise, in relation to securities of a body corporate, a power under section 775 of the Corporations Law of this jurisdiction; (b) a contravention of section 845, or Division 2 of Part 7.11, of the Corporations Law of this jurisdiction may have been committed in relation to securities of a body corporate; (c) a contravention of Chapter 6C of the Corporations Law of this jurisdiction may have been committed in relation to shares in a body corporate; (d) a contravention of a law of this jurisdiction may have been committed, being a contravention that involves fraud or dishonesty and relates to securities of a body corporate; (e) unacceptable circumstances within the meaning of Part 6.9 of the Corporations Law of this jurisdiction have, or may have, occurred: (i) in relation to an acquisition of shares in a body corporate; or (ii) as a result of conduct engaged in by a person in relation to shares in, or the affairs of, a body corporate; or (f) a person has, or may have, contravened section 657F of the Corporations Law of this jurisdiction. (2) The Commission may require a director, secretary or executive officer of the body to disclose to the Commission information of which he or she is aware and that: (a) may have affected a dealing that has taken place; or (b) may affect a dealing that may take place; in securities of the body. (3) If the Commission believes on reasonable grounds that a person can give, information about particular matters, being any or all of the following: (a) a dealing in securities of the body; (b) advice, or an analysis or report, that a dealer, an investment adviser, or a securities representative of a person, has given, issued or published about such securities; (c) the financial position of a business carried on by a person who: (i) is or has been (either alone or together with any other person or persons) a dealer or investment adviser; and (ii) has dealt in, has given advice about, or has issued or published an analysis or report about, such securities; (d) the financial position of a business carried on by a nominee controlled by a person of a kind referred to in paragraph (c) or jointly controlled by 2 or more persons at least one of whom is such a person; (e) an audit of, or a report of an auditor about, accounts or records of a dealer or investment adviser, being accounts or records relating to dealings in such securities; the Commission may require the person to disclose to it the information that the person has about those particular matters. (4) The Commission shall not exercise a power conferred by subsection (2) or (3) except: (a) if paragraph (1)(a) applies—for the purpose of determining whether or not to exercise a power as mentioned in that paragraph; (b) if paragraph (1)(b), (c) or (d) applies—for the purpose of investigating the possible contravention; or (c) if paragraph (1)(e) or (f) applies—for the purpose of determining whether or not to make an application under section 657C or 657G of the Corporations Law.