40When certain powers may be exercised

40 When certain powers may be exercised

A power conferred by section 41 or 42 may only be exercised: (a) for the purposes of the performance or exercise of any of ASIC’s functions and powers under the corporations legislation (other than the excluded provisions); or (b) for the purposes of ensuring compliance with the corporations legislation (other than the excluded provisions); or (c) in relation to: (i) an alleged or suspected contravention of the corporations legislation (other than the excluded provisions); or (ii) an alleged or suspected contravention of a law of the Commonwealth, or of a State or Territory in this jurisdiction, being a contravention that concerns the management or affairs of a body corporate, or involves fraud or dishonesty and relates to a body corporate or financial products; or (iii) an alleged or suspected contravention, by a trustee company, of a law of the Commonwealth, or of a State or Territory, being a contravention that involves fraud or dishonesty and that relates to trust property; or (d) for the purposes of an investigation under Division 1.