Commonwealth Consolidated Regulations

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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION REGULATIONS 2001 - REG 16

Powers of Panel

             (1)  In addition to any other provision of this Part, the Panel may:

                     (a)  direct that 2 or more related matters are to be considered in Panel proceedings; and

                     (b)  identify the issues to be considered by the Panel in its proceedings; and

                     (c)  give directions to a person about:

                              (i)  the manner in which a matter may be presented, either orally or in writing, to the Panel; and

                             (ii)  the duration of the time in which the person may address the Panel or give evidence in Panel proceedings; and

                     (d)  give directions to parties to lodge with the Panel specified documents relating to Panel proceedings; and

                     (e)  give directions to persons about the time at or before which documents must be lodged with the Panel; and

                      (f)  extend the time at or before which documents must be lodged with the Panel; and

                     (g)  invite a person who is not a party to make a submission in relation to Panel proceedings; and

                     (h)  permit a person to amend or withdraw information or evidence given to, or a document lodged with, the Panel for the purposes of Panel proceedings; and

                      (i)  direct that Panel proceedings be suspended for a period determined by the Panel; and

                      (j)  direct that Panel proceedings be deferred until a day determined by the Panel.

             (2)  In the performance of its functions and the exercise of its powers in relation to Panel proceedings, the Panel:

                     (a)  is not bound by the rules of evidence; and

                     (b)  must consider all relevant information contained in:

                              (i)  a submission that is lodged with the Panel; and

                             (ii)  other evidence that is given to the Panel; and

                     (c)  must act:

                              (i)  as fairly and reasonably; and

                             (ii)  with as little formality; and

                            (iii)  having regard to the time available before the decision must be made, in as timely a manner;

                            as the requirements of this Part, and the corporations legislation (other than the excluded provisions), and a proper consideration of the matters before the Panel permit.



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