Australian Securities and Investments Commission (Standing Acting Arrangements) Appointment 2022

Australian Securities and Investments Commission (Standing Acting Arrangements) Appointment 2022

made under the Australian Securities and Investments Commission Act 2001

Compilation No. 1

Compilation date: 1 June 2026

Includes amendments: Australian Securities and Investments Commission Amendment (Standing Acting Arrangements) Appointment 2026

Prepared by The Treasury

About this compilation

This compilation

This is a compilation of the Australian Securities and Investments Commission (Standing Acting Arrangements) Appointment 2022 that shows the text of the law as amended and in force on 1 June 2026 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary

1  Name 

3  Authority

5  Definitions

Part 2—Standing acting arrangements for ASIC

6  Standing acting arrangements for Chairperson of ASIC

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Part 1—Preliminary

1  Name

  This instrument is the Australian Securities and Investments Commission (Standing Acting Arrangements) Appointment 2022.

3  Authority

  This instrument is made under the Australian Securities and Investments Commission Act 2001.

5  Definitions

Note: Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Australian Securities and Investments Commission Act 2001 as in force from time to time.

  In this instrument:

senior available appointee has the meaning given by subsection 6(2).

the Act means the Australian Securities and Investments Commission Act 2001.

Part 2—Standing acting arrangements for ASIC

6  Standing acting arrangements for Chairperson of ASIC

 (1) Under section 117 of the Act, during all periods when:

 (a) there is a vacancy in the office of Chairperson; or

 (b) the Chairperson is absent from office;

the person determined in accordance with subsections (2), (3), (4) and (5) is appointed to act as Chairperson.

 (2) For the purposes of this instrument, a senior available appointee at a particular time is a person who, at that time, satisfies all of the following:

 (a) is a member of ASIC;

 (b) is not absent from office or from Australia;

 (c) has advised that they are available to act for the Chairperson;

 (d) is one of the following persons:

 (i) Simone Constant;

 (ii) Alan Kirkland;

 (iii) Katherine O’Rourke.

 (3) At the start of each period when the office of the Chairperson is vacant or the Chairperson is absent from office or from Australia, the senior available appointee who has had the greatest number of days since they last acted as Chairperson, is to act as Chairperson during that period.

 (4) However, if a person who is acting as Chairperson during a period (under subsection (3) or a previous application of this subsection) ceases at a particular time to be a senior available appointee, the senior available appointee who has had the greatest number of days since they last acted as Chairperson at that time is to act as Chairperson during the remainder of that period.

 (5) In determining who has had the greatest number of days since they last acted as Chairperson under subsections (3) and (4):

 (a) in relation to a senior available appointee who has not previously acted as Chairperson—use instead the number of days since the senior available appointee became a member of ASIC;

 (b) in relation to where 2 or more senior available appointees have an equal number of days—assume the person highest in the list in paragraph (2)(d) has had the greatest number of days.

 (6) Under subsection 33A(1) of the Acts Interpretation Act 1901, each appointment under subsection (1) is determined to be on the same terms and conditions that apply to the Chairperson under sections 112, 114 and 115 of the Act.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history