Section 1023F — Corporations Act 2001 (Cth)

(1) ASIC must not make a product intervention order unless ASIC has:

(a) consulted persons who are reasonably likely to be affected by the proposed order; and

(b) if the proposed order will apply to a body that is regulated by APRA—consulted APRA; and

(c) complied with any other requirements as to consultation prescribed by regulations made for the purposes of this paragraph.

(2) Without limiting paragraph (1)(a), ASIC is taken to comply with that paragraph if ASIC, on its website:

(a) makes the proposed order, or a description of the content of the proposed order, available; and

(b) invites the public to comment on the proposed order.

(3) A failure to comply with subsection (1) does not invalidate a product intervention order.

(4) Section 17 of the Legislation Act 2003 (rule‑makers should consult before making legislative instruments) does not apply to the making of a product intervention order.

Related sections

• s 1023C — Application of product intervention orders
• s 1023D — ASIC may make product intervention orders
• s 1023E — Significant detriment to retail clients
• s 1023G — Commencement and duration of product intervention orders
• s 1023H — Extension of product intervention orders
• s 1023J — Amendment of product intervention orders

Research how courts apply s 1023F

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.