Australian Securities and Investments Commission Act 2001
47Disclosures to take place in private
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47 Disclosures to take place in private
(1) A disclosure to ASIC pursuant to a requirement made under this Division must take place in private and ASIC may give directions about who may be present during it, or during a part of it. (2) A person must not be present during a disclosure unless he or she: (a) is a member; or (b) is a staff member approved by ASIC; or (c) is entitled to be present by virtue of: (i) a direction under subsection (1); or (ii) subsection 48(1).
Penalty: 30 penalty units.
(3) Subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.