(1) ASIC is, by force of this section, entitled to the custody of records that: (a) are deemed, by subsection 22(2) of the Archives Act 1983 , to be Commonwealth records for the purposes of that Act; and (b) are documents or things that were produced to the HIH Royal Commission;
(2) The Commonwealth must ensure that the records to which subsection (1) applies are provided or made available to ASIC as soon as practicable after the commencement of this Act.