The Australian Securities and Investments Commission ("ASIC") is responsible for the administration of the following Commonwealth legislation- Corporations Act 2001, for laws relating to unconscionable conduct and consumerprotection in relation to financial services (Division 2 of Part 2 of the Australian Securities and Investments Commission Act 2001), and laws relating to insurance and superannuation (subsection 12A(1) of the Australian Securities and Investments Commission Act 2001).
ASIC has a national Enforcement Directorate that has staff located in each region including South Australia. The Enforcement Directorate is responsible for investigating contraventions of the Corporations Act 2001 and the Corporations Law, other offence allegedly committed by directors or promoters of companies and contravention of laws relating to financial services, insurance and superannuation. Complaints by aggrieved members of the public may be made in writing or in person to any office of ASIC, via ASIC's InfoLine 1300 300 630 (toll free number) or via email. For more information, visit ASIC's website at www.asic.gov.au.
The Australian Competition and Consumer Commission ("ACCC") administers the Trade Practices Act 1974 (Cth) which regulates the commercial operations of corporation and in particular such matters as warranties, price fixing, market manipulation and misleading conduct on the part of companies. The ACCC also conducts investigations and receives complaints about corporate type matters directly from members of the public.
The Office of Consumer and Business Affairs is a State Government department that also regulates the activities of companies in relation to fair trading.
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REGULATION OF COMPANIES : Last Revised: Tue May 6th 2008 |
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