Ministerial Powers (ASIC) Amendment Delegations 2022

I, Dr James Edward Chalmers, Treasurer, make the following delegations.

Dated   9 June 2022

Dr James Edward Chalmers

Treasurer

Contents

1  Name 

2  Commencement

3  Authority

4  Schedules

Schedule 1—Amendments

Ministerial Powers (ASIC) Delegations 2021

1  Name

  This instrument is the Ministerial Powers (ASIC) Amendment Delegations 2022.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Life Insurance Act 1995.

4  Schedules

  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Ministerial Powers (ASIC) Delegations 2021

1  Section 3

Repeal the section, substitute:

3  Authority

  This instrument is made under the following:

 (a) the Business Names Registration Act 2011; and

 (b) the Corporations Act 2001; and

 (c) the Life Insurance Act 1995; and

 (c) the Mutual Assistance in Business Regulation Act 1992.

2  After Part 4

Insert:

Part 5—Delegations under the Life Insurance Act 1995

12  Delegation of the Minister’s powers and functions

  Under subsection 216(14B) of the Life Insurance Act 1995, the Minister’s powers and functions under section 216 of that Act are delegated to the persons holding, occupying or performing the duties of each of the following offices and positions in ASIC:

 (a) a member of ASIC;

 (b) a staff member.