Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister may, by signed instrument, delegate to:
(a) an ASIC member; or
(b) 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 );
such of the Minister's functions and powers under this Act or the Transitional Act as are prescribed.
(2) In performing functions or exercising powers under a delegation, the delegate must comply with any directions of the Minister.