Australian Securities Commission
Amendment Act 1990

No. 41 of 1990

An Act to amend the Australian Securities Commission Act 1989 and the National Companies and Securities Commission Act 1979

[Assented to 16 June 1990]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

1.   This Act may be cited as the Australian Securities Commission Amendment Act 1990.

Commencement

2.   This Act commences on a day to be fixed by Proclamation.

Amendment of Australian Securities Commission Act 1989

3.   (1) In this section, “Principal Act” means the Australian Securities Commission Act 1989¹.

(2) Section 9 of the Principal Act is amended by inserting after subsection (3) the following subsection:

13567/90    Cat. No. 90 4544 7

“(3a) Nothing in this Act or any other law prevents a person appointed as a full-time member from holding an appointment as a full-time member of the National Companies and Securities Commission under the National Companies and Securities Commission Act 1979.”.

Amendment of National Companies and Securities Commission Act 1979

4.   (1) In this section, “Principal Act” means the National Companies and Securities Commission Act 1979².

(2) Section 11 of the Principal Act is amended by inserting after subsection (3) the following subsection:

“(3a) Nothing in this Act or any other law prevents a person appointed as a full-time member from holding an appointment as a full-time member of the Australian Securities Commission under the Australian Securities Commission Act 1989.”.

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NOTES

1.   No. 90, 1989.

2.   No. 173, 1979, as amended. For previous amendments, see Nos. 1 and 153, 1981; No. 108, 1983; No. 63, 1984; No. 192, 1985; No. 74, 1986; Nos. 6 and 141, 1987; and No. 136, 1988.

[Minister’s second reading speech made in—

House of Representatives on 16 May 1990

Senate on 31 May 1990]