Australian Securities and Investments Commission Act 2001
56Who may be present when hearing takes place in private
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56 Who may be present when hearing takes place in private
(1) ASIC 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 the corporations legislation (other than the excluded provisions) 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 ASIC directs that a hearing take place in private, a person must not be present at the hearing 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 (2).
Penalty: 30 penalty units.
(4) Subsection (3) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.