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SUPERANNUATION FUNDS MANAGEMENT CORPORATION OF SOUTH AUSTRALIA ACT 1995 - SECT 36

36—Power to investigate Corporation's operations

        (1)         The Minister may appoint—

            (a)         the Auditor-General; or

            (b)         some other suitable person,

to make an investigation and report under this section.

        (2)         An investigator so appointed—

            (a)         must investigate such matters relating to the operations and financial position of the Corporation as are determined by the Minister, which matters may include—

                  (i)         any possible conflict of interest or breach of duty or other unlawful, corrupt or improper activity on the part of a director or employee of the Corporation; or

                  (ii)         any possible failure to exercise reasonable care and diligence on the part of a director or employee of the Corporation;

            (b)         may investigate a matter of a kind referred to in subparagraph (i) or (ii) that the investigator has not been required by the Minister to investigate if, in his or her opinion, the matter should be investigated and it is practicable to do so.

        (3)         The investigator must—

            (a)         report to the Minister on the results of an investigation or investigations under subsection (2) and advise the Minister whether, in his or her opinion, any matter should be the subject of further action; and

            (b)         where, in the case of a matter referred to in subsection (2)(b), the investigator decided not to investigate or complete investigation of the matter—report on the matter to the Minister and advise whether, in his or her opinion, the matter should be the subject of any or further investigation or other action.

        (4)         The investigator must comply with any directions of the Minister as to the manner in which the investigation is to be conducted and the manner in which the results of the investigation are to be reported, including any direction requiring reports to be presented to a specified person or body in addition to the Minister.

        (5)         Subject to any directions of the Minister, the investigator may, if he or she sees fit to do so in connection with the investigation, make public statements as to the nature and conduct of the investigation and may invite and receive information or submissions as to any matter relevant to the investigation from such persons as he or she thinks fit.

        (6)         The investigator must, when presenting to the Minister any report that the investigator considers need not remain confidential, also present copies of the report to the President of the Legislative Council and the Speaker of the House of Assembly who must in turn, not later than the first sitting day after receipt of the reports, lay them before their respective Houses.

        (7)         For the purposes of an investigation under this section, the investigator and authorised persons 1 have the same powers as the Auditor-General and authorised officers have under Division 3 of Part 3 of the Public Finance and Audit Act 1987 for an audit or examination under that Act, and the provisions of that Division (including section 34(2) and (3)) apply in relation to the investigation and the exercise of those powers as if the investigator or authorised person were the Auditor-General or an authorised officer exercising those powers under that Division.

        (8)         Without limiting the effect of any other provisions of this section, a magistrate may, on application by the investigator—

            (a)         if satisfied that there are reasonable grounds to believe that a person has information, or possession or control of records, relevant to the investigation, issue a summons requiring the person to appear before the investigator and answer questions or produce the records;

            (b)         if satisfied that a person has been served with such a summons and paid or tendered a reasonable sum for the person's expenses but has failed (without reasonable excuse) to appear or produce records in obedience to the summons, issue a warrant directed to all members of the police force for the person to be apprehended and brought before the investigator.

        (9)         The grounds of an application for a summons or warrant must be verified by affidavit.

        (10)         A person who—

            (a)         is served with a summons under this section and paid or tendered a reasonable sum for the person's expenses; but

            (b)         fails (without reasonable excuse) to obey the summons,

is guilty of an offence.

Penalty: Division 6 fine or division 6 imprisonment.

        (11)         An investigator or authorised person incurs no civil or criminal liability for an honest act or omission in the exercise or purported exercise of a power conferred by this section.

        (12)         A person incurs no civil or criminal liability for anything done honestly in compliance or purported compliance with a requirement of an investigator or authorised person under this section.

        (13)         In this section—

"authorised person" in relation to an investigation under this section, means a person authorised by the investigator to exercise the powers conferred by this section for the purposes of the investigation.

Note—

1         See subsection (13).



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