New South Wales Consolidated Acts

CORPORATIONS (NEW SOUTH WALES) ACT 1990 - SECT 60

60 Interpretation of some expressions in the ASIC Law, and the ASIC Regulations, of New South Wales

(1) In this Part, and in the ASIC Law , and the ASIC Regulations , of New South Wales:

"Advisory Committee" means the Companies and Securities Advisory Committee established by section 145 of the ASIC Act.

"affairs" , in relation to a body corporate, has the same meaning as in section 246AA of the Corporations Law .

"assist" , in relation to a Commission delegate, means:

(a) to perform functions:

(i) as a member, officer or employee of the Commission delegate, and

(ii) in connection with the Commission delegate's performance or exercise of a function or power delegated under section 102 of the ASIC Law , or

(b) to perform services for the Commission delegate in connection with the Commission delegate's performance or exercise of a function or power delegated under section 102 of the ASIC Law .

"Australia" includes any external Territory to which the ASIC Act extends.

"books" includes:

(a) a register, and

(b) financial reports or financial records, however compiled, recorded or stored, and

(c) a document, and

(d) banker's books, and

(e) any other record of information.

"Chairperson" means:

(a) except in Part 11 of the ASIC Law or in relation to the Disciplinary Board--the Chairperson of the Commission, and

(b) in Part 11 of that Law or in relation to the Disciplinary Board--the Chairperson of the Disciplinary Board.

"Commission" means the Australian Securities and Investments Commission established by section 7 of the ASIC Act.

"Commission delegate" means a person to whom, or a body to which, a function or power is delegated under section 102 of the ASIC Law .

"contravention" , in relation to a law, includes an ancillary offence relating to an offence against that law.

"court" , except in section 248 of the ASIC Law , includes a tribunal having power to require the production of documents or the answering of questions.

"Deputy Chairperson" means the Deputy Chairperson of the Commission.

"Disciplinary Board" means the Companies Auditors and Liquidators Disciplinary Board established by section 202 of the ASIC Act.

"eligible person" , in relation to a person, means a person who:

(a) if the first-mentioned person is a body corporate--is or has been an officer of the body within the meaning of a national scheme law or a corresponding previous law, or

(b) in any case:

(i) is or has been an employee, agent, banker, solicitor or auditor of, or

(ii) is acting, or has acted, in any other capacity on behalf of,

the first-mentioned person.

"examination" means:

(a) in this section and Part 3 (other than section 27 (2) and Division 9) of the ASIC Law --an examination of a person pursuant to a requirement made under section 19 of that Law, or

(b) in section 27 (2) and Division 9 of Part 3 of the ASIC Law --an examination of a person pursuant to a requirement made under section 19 of the ASIC Law or a corresponding provision of the ASIC Law of another jurisdiction.

"expenses" , in relation to an investigation under Division 1 of Part 3 of the ASIC Law , includes costs and expenses incurred in relation to a proceeding begun under section 50 of the ASIC Law as a result of the investigation.

"fail" means refuse or fail.

"foreign country" means:

(a) an external Territory to which the ASIC Act does not extend, or

(b) a country outside Australia and the external Territories, or

(c) a part of such a country.

"give" has:

(a) in relation to a document--a meaning affected by section 86 of the ASIC Law , and

(b) in relation to information--a meaning affected by section 61 of this Act.

"hearing" , in this section and Part 3 of the ASIC Law , means a hearing before the Commission and, in sections 52, 54, 55 and 56 of that Law, includes a part of such a hearing.

"information" has a meaning affected by section 61 of this Act.

"investigate" , in relation to the Commission, means investigate in the course of performing or exercising any of the Commission's functions and powers.

"meeting" means:

(a) in Part 4 of the ASIC Law --a meeting of the Commission, and

(b) in Part 11 of that Law--a meeting of the Disciplinary Board.

"member" means:

(a) except in Division 2 of Part 4, or in Part 10, 11, or 14, of the ASIC Law , or in relation to a Division of the Commission, or in relation to the Panel or the Disciplinary Board--a member of the Commission,

(b) in Part 10 of that Law or in relation to the Panel--a member of the Panel,

(c) in Part 11 of that Law or in relation to the Disciplinary Board--the Chairperson or any other member of the Disciplinary Board.

"national scheme law" means:

(a) the following:

(i) the Corporations Law of this jurisdiction,

(ii) the ASIC Law of this jurisdiction,

(iii) this Act, or

(b) the following:

(i) the Corporations Act,

(ii) the Corporations Law of the Capital Territory,

(iii) the ASIC Act, or

(c) a law of a jurisdiction (other than this jurisdiction or the Capital Territory) that corresponds to an Act or Law referred to in paragraph (a).

"national scheme law of this jurisdiction" means:

(a) this Act, or

(b) the Corporations Law of New South Wales , or

(c) the ASIC Law of New South Wales .

"officer" , in relation to a body corporate, includes:

(a) a director, secretary, executive officer or employee of the body,

(b) a receiver, or a receiver and manager, of property of the body,

(c) an administrator of the body or an administrator of a deed of company arrangement executed by the body,

(d) a liquidator, or a provisional liquidator, of the body, and

(e) a trustee or other person administering a compromise or arrangement made between the body and any other person or persons.

"Panel" means the Corporations and Securities Panel established by section 171 of the ASIC Act.

"Panel proceedings" means proceedings before the Panel on:

(a) an application made to the Panel under the Corporations Law , or

(b) a reference of a decision to the Panel for review under the Corporations Law .

"power" includes an authority.

"prescribed" means prescribed by the ASIC Law or the regulations.

"President" means the President of the Panel.

"proceeding" means:

(a) a proceeding in a court, or

(b) a proceeding or hearing before, or an examination by or before, a tribunal,

whether the proceeding, hearing or examination is of a civil, administrative, criminal, disciplinary or other nature.

"produce" , except in Part 3 of the ASIC Law , includes permit access to.

"property" means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description and includes a thing in action and money.

"record" , in relation to an examination, means the whole or a part of a record made under section 24 of the ASIC Law of statements made at the examination.

"regulations" means the ASIC Regulations of this jurisdiction.

"report" includes an interim report.

"staff member" means:

(a) a member of the staff referred to in section 120 (1) of the ASIC Act or a person employed under section 120 (3) of that Act,

(b) a person engaged under section 121 (1) of that Act, or

(c) any of the officers, employees and persons who under section 122 of that Act are to assist the Commission.

"statement" , in relation to an examination, includes a question asked, an answer given, and any other comment or remark made, at the examination.

"Territory" means:

(a) the Capital Territory, or

(b) an external Territory to which the ASIC Act extends.

"this Act" , except in this Part, means the ASIC Law , and includes the regulations.

"this jurisdiction" means New South Wales.

"this Law" includes the regulations.

"tribunal" means:

(a) a tribunal in Australia, or

(b) any other body, authority or person in Australia having power, by law or by consent of parties, to hear, receive or examine evidence.

"witness" means:

(a) in relation to a hearing before the Commission--a person appearing at the hearing to give evidence, or

(b) in relation to Panel proceedings--a person appearing in the proceedings to give evidence.

"written record" , in relation to an examination, means:

(a) a record of the examination:

(i) that is made in writing, or

(ii) as reduced to writing, or

(b) a part of such a record.

(2) Subject to the ASIC Law of this jurisdiction, an expression has the same meaning in that Law and in the ASIC Regulations of this jurisdiction as in the Corporations Law of this jurisdiction.