Australian Securities and Investments Commission Act 1989
56Who may be present when hearing takes place in private
Start here
Get a plain-English read of 56
Turn the raw legal text into a practical explanation grounded in Australian Securities and Investments Commission Act 1989.
56 Who may be present when hearing takes place in private
(1) The Commission may give directions about who may be present during a hearing that is to take place in private. (2) A direction under subsection (1) does not prevent: (a) a person whom a national scheme law of this jurisdiction requires to be given the opportunity to appear at a hearing; or (b) a person representing under section 59: (i) a person of a kind referred to in paragraph (a) of this subsection; or (ii) a person who, by virtue of such a direction, is entitled to be present at a hearing; from being present during the hearing. (3) Where the Commission directs that a hearing take place in private, a person shall not be present at the hearing unless he or she: (a) is a member; (b) is a staff member approved by the Commission; or (c) is entitled to be present by virtue of: (i) a direction under subsection (1); or (ii) subsection (2).
Penalty: 10 penalty units or imprisonment for 3 months.