(1) The Commissioner
shall have and may perform and exercise such functions and powers as may be
conferred or imposed on the Commissioner by or under this or any other Act or
law or any law of the Commonwealth, a Territory of the Commonwealth or another
State.
(2) The Commissioner
shall, as and when directed by the Minister so to do, report to the Minister
with respect to the policy the Commissioner is pursuing or proposes to pursue
in the performance or exercise of the functions and powers of the Commissioner
or such of them as are specified by the Minister when giving the direction.
(3) Except as to the
contents of a report or recommendation by the Commissioner, the Commissioner
is, in the performance or exercise of functions and powers under this Act or
any other Act or law (other than those performed or exercised as an inspector
pursuant to any law relating to the regulation of companies or the securities
industry) subject to the control and direction of the Minister.
(4) Subject to any
direction of the Minister or of the Commissioner, any function or power which
may be performed or exercised by the Commissioner pursuant to this Act may be
performed or exercised by a person holding or acting in the office of Deputy
or Assistant Commissioner, and anything done or signed pursuant to this
subsection shall be as valid and effectual as if done or signed by the
Commissioner.
(5) The provisions of
this section do not have effect or operation to the extent of any
inconsistency with —
(a) the
Agreement; or
(b) any
delegation conferred upon the Commissioner by the Commission.