Australian Securities Commission
ASC
1 January 1991 – 1 July 1998
Renamed Australian Securities and Investments Commission in 1998.
National corporate regulator that administered the Corporations Law, regulating companies, securities and futures markets and maintaining the national companies register.
Names over time
- Australian Securities Commission1991–1998
- Australian Securities and Investments Commission1998–present
How it came into existence
Established under the Australian Securities Commission Act 1989 and began operating as national regulator on 1 January 1991, when the Corporations Law took effect; it replaced the National Companies and Securities Commission and took over the work of the state and territory Corporate Affairs Commissions.
- National companies and securities regulation
- Takeovers regulation
Legislation: Australian Securities Commission Act 1989
Changes during its life
- 1996Responsibility for corporate regulation, including the Commission, moved from the Attorney-General's portfolio to the Treasury portfolio.
How it ended
Renamed the Australian Securities and Investments Commission on 1 July 1998, when it also gained consumer protection responsibilities for insurance, superannuation and deposit-taking from the Insurance and Superannuation Commission.
- Corporate and securities regulation
Main functions
- Administration of the Corporations Law
- Company registration and public registers
- Regulation of securities and futures markets and intermediaries
- Investigation and enforcement of corporate misconduct
- Regulation of takeovers and fundraising
Where it sits
Last in the portfolio of Department of the Treasury.
Lineage
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Sources
Some dates or links for this organisation are not fully confirmed. Corrections are welcome.