6AFunctions, &c., of Commissioner

6A Functions, &c., of Commissioner

[Section 6A Inserted by No. 9 of 1982, s. 7 and Sched. 10 ]

(1)  The Commissioner shall have and perform such functions, and may exercise such powers, as may be imposed or conferred on him by or under this Act or by or under any other Act or any law of the Commonwealth, a Territory of the Commonwealth, or another State.

(2)  The Commissioner shall, as and when directed by the Minister to do so, report to the Minister with respect to the policy that the Commissioner is pursuing or proposes to pursue in the performance or exercise of his functions and powers or such of them as are specified by the Minister when giving the direction.

(3)  Except as to the contents of a report or recommendation by the Commissioner, the Commissioner is, in the performance or exercise of functions and powers under this Act or any other Act or law (other than those performed or exercised as an inspector pursuant to any law relating to the regulation of companies or the securities industry) subject to the control and direction of the Minister.

(4)  The Commissioner shall not perform or exercise his functions, powers, or duties in a way that is inconsistent with the Agreement, nor shall the Minister give directions to the Commissioner that are inconsistent with the Agreement.

(5)  In this section, Agreement means the agreement made on 22nd December 1978 between the Commonwealth and the States in relation to a proposed scheme for the co-operative regulation of companies and the securities industry, as amended or affected from time to time by any subsequent agreement.