(1) ASIC may, by writing under its common seal, delegate to a person all or any of its functions and powers. (2) ASIC must not, without the Minister's approval, delegate a function or power to a person other than:
(2A) ASIC must not delegate a function or power to an APRA staff member within the meaning of the Australian Prudential Regulation Authority Act 1998 , unless the Chief Executive Officer of APRA has agreed to the delegation in writing. (2B) ASIC must not delegate a function or power to:
(3) In subsections (1) and (2):
(4) In exercising its power under subsection (1), ASIC must seek to ensure that:
(5) In the performance of a function, or the exercise of a power, delegated under this section, the delegate is subject to ASIC's directions. (6) Where a function or power conferred on ASIC by or under a law (including this Act) and delegated under this section is performed or exercised by the delegate, it is, for the purposes of that law and this Act, taken to have been performed or exercised by ASIC.