13General powers of investigation

#### 13 General powers of investigation (1) ASIC may make such investigation as it thinks expedient for the due administration of the corporations legislation (other than the excluded provisions) where it has reason to suspect that there may have been committed: (a) a contravention of the corporations legislation (other than the excluded provisions); or (b) a contravention of a law of the Commonwealth, or of a State or Territory in this jurisdiction, being a contravention that: (i) concerns the management or affairs of a body corporate or managed investment scheme; or (ii) involves fraud or dishonesty and relates to a body corporate or managed investment scheme or to financial products. (2) Where ASIC has reason to suspect that unacceptable circumstances within the meaning of Subdivision B of Division 2 of Part 6.10 of the Corporations Act have, or may have, occurred, ASIC may make such investigation as it thinks expedient: (a) for the purposes of determining whether or not to make an application under section 657C of that Act; or (b) otherwise for the due administration of the corporations legislation (other than the excluded provisions). (3) If ASIC has reason to suspect that a registered liquidator: (a) has not, or may not have, faithfully performed his or her duties; or (b) is not, or may not be, faithfully performing his or her duties; ASIC may make such investigation as it thinks expedient for the due administration of the corporations legislation (other than the excluded provisions). (6) If ASIC has reason to suspect that a contravention of a provision of Division 2 of Part 2 may have been committed, ASIC may make such investigation as it thinks appropriate. (7) If a consumer contract or a small business contract is: (a) a financial product; or (b) a contract for the supply, or possible supply, of services that are financial services; ASIC may make such investigations as it thinks expedient into the terms of the contract for the purposes of determining whether or not to make an application to the Court under section 12GND. (8) Expressions used in subsection (7) that are defined in Division 2 of Part 2 have the same meaning as in that Division.