Australian Securities and Investments Commission Act 2001
12GLCASIC may issue a public warning notice
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12GLC ASIC may issue a public warning notice
Contraventions (1) ASIC may issue to the public a written notice containing a warning about the conduct of a person if: (a) ASIC has reasonable grounds to suspect that the conduct may constitute a contravention of a provision of Subdivision BA, C or D; and (b) ASIC is satisfied that one or more other persons has suffered, or is likely to suffer, detriment as a result of the conduct; and (c) ASIC is satisfied that it is in the public interest to issue the notice. Substantiation notices (2) Without limiting subsection (1), if: (a) a person refuses to respond to a substantiation notice given to the person, or fails to respond to the notice before the end of the substantiation notice compliance period for the notice; and (b) ASIC is satisfied that it is in the public interest to issue a notice under this subsection; ASIC may issue to the public a written notice containing a warning that the person has refused or failed to respond to the substantiation notice within that period, and specifying the matter to which the substantiation notice related. Notice is not a legislative instrument (3) A notice issued under subsection (1) or (2) is not a legislative instrument.