Victorian Current Acts

FINANCIAL SECTOR REFORM (VICTORIA) ACT 1999 - SECT 7

    (1)     ASIC has the functions and powers conferred or expressed to be conferred on it by or under this Act.

    (2)     ASIC has power to do acts in Victoria in the performance or exercise of any function or power conferred or expressed to be conferred on ASIC by or under a law of another jurisdiction corresponding to this Act.

S. 7(3) inserted by No. 44/2001 s. 3(Sch. item 44.2).

    (3)     Without limiting the operation of section 6 of the Interpretation of Legislation Act 1984 , this section does not purport to impose a duty on ASIC to perform any functions or exercise any powers conferred or expressed to be conferred on it by or under this Act if the imposition of the duty would be beyond the legislative power of the Parliament of the State.

Part 4—Authorised deposit taking institutions and life insurance companies: transfer of business

S. 8 (Heading) amended by No. 38/2012 s. 27(1).