Section 908CL — Corporations Act 2001 (Cth)

(1) ASIC must not make a rule under this Division unless ASIC:

(a) has consulted the public about the proposed rule; and

(b) has also consulted any other person or body as required by regulations made for the purposes of this paragraph.

Note: In some situations, consultation is not required (see section 908CN).

(2) Without limiting the ways in which ASIC may comply with the obligation in paragraph (1)(a) to consult the public about a proposed rule, ASIC is taken to comply with that obligation if ASIC, on its website:

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

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

(3) A failure to consult as required by subsection (1) does not invalidate a rule.

Related sections

• s 908CI — Enforceable undertakings
• s 908CJ — Protection from liability for compliance in good faith
• s 908CK — Matters to which ASIC has regard when making rules
• s 908CM — Ministerial consent to rules required
• s 908CN — Emergency rules: consultation and consent not required
• s 908CO — Requirements

Research how courts apply s 908CL

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