Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) An ASIC program for an issuing body sets out the procedures to be followed by the issuing body in the performance of its functions under this Part, and the exercise of its powers under this Part.
(2) The ASIC program must include procedures in relation to the following matters:
(a) accepting applications for ASICs;
(b) applying for background checks under this Part;
(c) verifying identification documents for the purposes of this Part;
(d) determining whether applicants for ASICs have an operational need for an ASIC;
(e) printing and producing ASICs;
(f) issuing ASICs, including considering whether criteria for the issue of ASICs are satisfied and whether ASICs are to be issued with conditions;
(g) distributing ASICs to applicants;
(h) ensuring that holders of ASICs are aware of obligations that apply in relation to holding ASICs;
(i) storing and transporting ASICs;
(j) collecting, storing and destroying information and documents about ASICs and ASIC applications;
(k) storing equipment associated with the production of ASICs;
(l) taking all reasonable steps to recover red ASICs or grey ASICs that are no longer required, including expired or cancelled red ASICs or grey ASICs;
(m) destroying red ASICs or grey ASICs that are no longer required, including expired or cancelled red ASICs or grey ASICs;
(n) cancelling access control arrangements that are related to red ASICs or grey ASICs that are no longer required, including expired or cancelled red ASICs or grey ASICs, and red ASICs or grey ASICs that have been lost, stolen or destroyed;
(o) keeping records of the activities of the issuing body;
(p) if the issuing body proposes to engage other entities to perform activities on its behalf--engaging such other entities to perform such activities;
(q) conducting an ongoing quality assurance process of the procedures in the program and the implementation of the procedures;
(r) conducting an annual audit of the procedures in the program and the implementation of the procedures;
(s) the issuing body ceasing to be an issuing body, including procedures to ensure that information about applications for ASICs, and holders of ASICs, is appropriately handled or preserved.
(3) The procedures must be such as to ensure that the issuing body performs its functions under this Part, and exercises its powers under this Part, in an appropriately secure manner.
(4) The ASIC program must be accompanied by a document that sets out the following details:
(a) the issuing body's name;
(b) the issuing body's ABN, ACN or ARBN (if any);
(c) if the issuing body is a body corporate--the name of its chief executive officer or manager;
(d) the issuing body's postal address;
(e) the issuing body's physical address (if different from the issuing body's postal address);
(f) the issuing body's email address;
(g) the contact telephone number for the issuing body, including an after - hours number;
(h) an alternative contact person and number.
(5) An issuing body commits an offence of strict liability if:
(a) the issuing body becomes aware of a change in a detail referred to in subregulation (4); and
(b) the issuing body does not, within 5 working days after becoming aware of the change, notify the Secretary in writing of the detail as changed.