Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) ASIC may, by writing under its common seal, delegate all or any of its functions and powers under the following provisions to an ASIC member or a staff member who is a senior staff member (within the meaning given by subsection 5(1) of the Australian Securities and Investments Commission Act 2001 ):
(a) section 37 (requesting information and correcting the register);
(b) subsection 41(1) (giving notice requiring entity to lodge information);
(c) subsection 47(1) (cancellation for not carrying on a business).
(2) ASIC may, by writing under its common seal, delegate any or all of its functions and powers under this Act or the Transitional Act, other than the functions and powers under the following provisions, to a staff member who has the expertise appropriate to the function or power delegated:
(a) the provisions mentioned in subsection (1);
(b) subsection 41(2) (application to Federal Court to obtain information);
(c) subsection 65(1) (arrangements with States and Territories).
(3) In the performance of a function, or the exercise of a
power, delegated under this section, the delegate must comply with any
directions by ASIC.