RG 57 Notification of rights of review
Reissued 9 July 2003
Previous version: see [SPN 57] (issued 15 May 1995 and superseded 9 July 2003) in the ASIC Digest on CD-ROM.
Section 244 of the Australian Securities and Investments Commission Act 2001, s1317B of the Corporations Act 2001, s236(8) of the Life Insurance Act 1995, s189(7) of the Retirement Savings Accounts Act 1997 and s344(8) of the Superannuation Industry (Supervision) Act 1993 confer jurisdiction on the Administrative Appeals Tribunal (AAT) to review certain decisions made by ASIC. There are differing obligations imposed on ASIC with respect to notification of rights of review to the AAT.
Section 656A of the Corporations Act confers jurisdiction on the Takeovers Panel to review certain decisions made by ASIC to grant exemptions or modifications under s655A and s673 of the Corporations Act.
The purpose of this guide is to assist ASIC officers to comply with the obligations imposed with respect to notification of rights of review and the public to better understand the relevant provisions.