Commonwealth Consolidated Acts

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 141

  (1)   The Minister may make a written determination specifying persons who are eligible to be appointed to Financial Services and Credit Panels.

  (2)   The Minister must not specify a person for the purposes of subsection   (1) unless:

  (a)   the person is not a member of ASIC; and

  (b)   the person is not a staff member; and

  (c)   the Minister is satisfied that the person has experience or knowledge in at least one of the following fields:

  (i)   business;

  (ii)   administration of companies;

  (iii)   financial markets;

  (iv)   financial products and financial services;

  (v)   law;

  (vi)   economics;

  (vii)   accounting;

  (viii)   taxation;

  (ix)   credit activities and credit services.

  (3)   In specifying a person for the purposes of subsection   (1), the Minister may consult the Tax Practitioners Board.

  (4)   A determination made under subsection   (1) is not a legislative instrument.