ASIC (Amendment) Instrument 2025/0602

Administered by Department of the Treasury

Legislation au F2025L01381 Not in force Legislative Instrument

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Explanatory Statement

 

ASIC (Amendment) Instrument 2025/0602

This is the Explanatory Statement for ASIC (Amendment) Instrument 2025/0602 (the amending instrument).  

The Explanatory Statement is approved by the Chairperson of the Australian Securities and Investments Commission (ASIC).

Summary

  1.                 This amending instrument amends the definition of ‘senior staff members’ in ASIC Instrument 2019/117 (the principal instrument) by amending the positions determined to be senior staff member positions for all purposes and for the purposes of performing functions and exercising powers in relation to the employment of staff under section 120 of the Australian Securities and Investments Commission Act 2001 (the ASIC Act), and removing positions determined to be senior staff members for the purposes of performing functions and exercising powers in relation to registry matters.  

Purpose of the instrument

  1.              The purpose of the amending instrument is to:
  1.    remove and replace positions determined to be ‘senior staff member’ positions for all purposes, to reflect organisational changes;
  2.    amend position titles determined to be ‘senior staff member’ positions for the purposes of performing functions and exercising powers in relation to the employment of staff under section 120 of the ASIC Act, to reflect recent ASIC organisational changes and a team name change; and
  3.    remove the positions determined to be ‘senior staff members’ for the purposes of performing functions and exercising powers in relation to registry matters to reflect Registry Machinery of Government changes.

Consultation

  1.              Section 17 of the Legislation Act 2003 provides that, before any legislative instrument is made, the rule-maker must be satisfied that there has been undertaken any consultation that is considered by the rule-maker to be appropriate, and reasonably practicable to undertake.
  2.              In determining whether any consultation that was undertaken is appropriate, the rule-maker may have regard to any relevant matter, including the extent to which the consultation drew on the knowledge of persons having expertise in fields relevant to the proposed amending legislative instrument.
  3.              No consultation was undertaken prior to the making of this amending instrument. The reason why no consultation was undertaken is because consultation would be inappropriate given the machinery nature of this amending legislative instrument. This amending instrument deals with the identification of certain staff members in ASIC who are considered appropriate to be delegated certain powers that have been conferred on ASIC, ASIC’s Chairperson and the relevant Minister.

Operation of the instrument

4. Item 1 of Schedule 1 to the amending instrument amends paragraph 5(d) of the principal instrument to remove reference to ‘Chief of Staff’ and replace reference to ‘Commission Counsel’ with ‘Deputy General Counsel’.

5.  Item 2 of Schedule 1 to the amending instrument amends paragraphs 6(3)(a) and (b) of the principal instrument and replaces reference to ‘People and Development’ with ‘People and Culture’.

6. Item 3 of Schedule 1 to the amending instrument removes the section referencing Registry functions and powers.             

Commencement

7. This amending instrument commences on the day after it is registered on the Federal Register of Legislation.

Incorporation by reference

8. This amending instrument does not incorporate any documents by reference.

Retrospective application

10. This amending instrument does not have retrospective application.

Legislative authority

16. This amending instrument is made under section 122A of the ASIC Act.

17.  Subsection 33(3) of the Acts Interpretation Act 1901 states that where an Act confers a power to make an instrument, the power is to be construed as including a power exercisable in the like manner and subject to the like conditions (if any) to amend or vary any such instrument.

Statement of Compatibility with Human Rights 

18.  A Statement of Compatibility with Human Rights is in the Attachment.


Attachment

Statement of Compatibility with Human Rights

This Statement of Compatibility with Human Rights is prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.  

ASIC (Amendment) Instrument 2025/0602

Overview

  1.              This instrument amends the principal instrument by amending:
  1.    the definition of ‘senior staff member’ for all purposes, to remove positions that no longer exist within ASIC;
  2.    the position titles that are determined to be ‘senior staff member’ positions for the purpose of performing functions and exercising powers in relation to the employment of staff under section 120 of the ASIC Act; and
  3.    the positions that are determined to be ‘senior staff members’ for the purposes of performing functions and exercising powers in relation to registry matters. 

Assessment of human rights implications

2. The determination of certain positions to be ‘senior staff members’ generally, for employment purposes and for registry purposes merely facilitates the delegation of powers by ASIC, ASIC’s Chairperson and/or the relevant Minister to ASIC staff members holding the specified positions. Accordingly, this instrument does not engage any of the applicable rights or freedoms.  

Conclusion

3. This instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

 

Overview

The ASIC (Amendment) Instrument 2025/0602 was enacted to address the need for updating the definitions and roles of 'senior staff members' within the Australian Securities and Investments Commission (ASIC). This instrument was introduced to align the roles with recent organisational changes and ensure the delegation of powers to appropriate staff members is accurately reflected. The amending instrument was enacted by the Australian Securities and Investments Commission, under section 122A of the Australian Securities and Investments Commission Act 2001. The policy objective of this amendment is to ensure that the delegation of powers within ASIC is appropriately managed according to its current organisational structure and functions. The instrument achieves this by updating the titles and definitions of senior staff member positions to reflect current roles, thus facilitating efficient administration and regulatory oversight.

Scope and Application

The ASIC (Amendment) Instrument 2025/0602 pertains to the amendment of ASIC Instrument 2019/117, focusing on the revision of the definition of 'senior staff members' within the Australian Securities and Investments Commission (ASIC). This instrument applies to all staff members within ASIC, specifically those whose roles are designated as 'senior staff members' for the purposes of employment and registry functions. The geographic and jurisdictional reach of this Act is within the Commonwealth, specifically targeting the internal structure and delegation of powers within ASIC. This amending instrument does not apply retroactively and does not incorporate any documents by reference. It is made under section 122A of the ASIC Act and is subject to the conditions outlined in the Acts Interpretation Act 1901. Notably, no consultation was undertaken prior to the making of this instrument, deemed inappropriate due to its machinery nature. The instrument is compatible with human rights as outlined in the Statement of Compatibility with Human Rights attached to the amending instrument.

Key Provisions

The ASIC (Amendment) Instrument 2025/0602 amends the definition of'senior staff members' in ASIC Instrument 2019/117. It removes positions that no longer exist within ASIC, updates the titles of positions determined to be 'senior staff member' for employment purposes under section 120 of the Australian Securities and Investments Commission Act 2001, and eliminates positions designated as 'senior staff members' for registry matters. This is done to align with recent organisational changes within ASIC (paragraphs 4-6). Under the amended instrument, obligations and requirements are placed on the Australian Securities and Investments Commission (ASIC) to ensure that only the specified positions are recognised as 'senior staff members' for the relevant purposes. This involves updating internal records, policies, and procedures to reflect these changes. For instance, ASIC must now recognise the Deputy General Counsel as a senior staff member position instead of the Chief of Staff (Item 1 of Schedule 1). Additionally, ASIC is required to update the title from 'People and Development' to 'People and Culture' in relevant documents (Items 2 of Schedule 1). Furthermore, ASIC must cease recognising any positions as 'senior staff members' for registry purposes as these have been removed (Item 3 of Schedule 1). The amending instrument does not explicitly outline specific offences, penalties, or consequences for non-compliance. However, it is implied that failure to adhere to these amendments could result in operational inefficiencies or improper delegation of powers. Given that the instrument is machinery in nature and deals with the identification of certain staff members for delegation purposes, non-compliance could lead to issues in the execution of ASIC’s functions and powers. ASIC, its Chairperson, and the relevant Minister may face challenges in the effective delegation of authority if these changes are not properly implemented (paragraphs 16-17). The instrument's compatibility with human rights is assured by the Statement of Compatibility with Human Rights, confirming that it does not engage any of the applicable rights or freedoms (paragraph 2).

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Amending Act
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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.