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This is a Bill, not an Act. For current law, see the Acts databases.
2002-2003
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
HIH
Royal Commission (Transfer of Records) Bill
2003
No. ,
2003
(Treasury)
A Bill
for an Act to provide for the transfer of custody of certain records of the HIH
Royal Commission to the Australian Securities and Investments Commission, and
for related purposes
Contents
A Bill for an Act to provide for the transfer of custody
of certain records of the HIH Royal Commission to the Australian Securities and
Investments Commission, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the HIH Royal Commission (Transfer of
Records) Act 2003.
This Act commences on the day on which it receives the Royal
Assent.
In this Act:
ASIC means the Australian Securities and Investments
Commission.
HIH Royal Commission means the Royal Commission that was
commissioned, by Letters Patent dated 29 August 2001, to inquire into
certain matters relating to the failure of HIH Insurance Group.
record has the same meaning as in the Archives Act
1983.
transferred record means:
(a) a record that ASIC has custody of:
(i) under subsection 4(1); or
(ii) under regulations made for the purposes of section 6;
or
(b) an electronic copy of a document or thing provided or made available
to ASIC:
(i) under section 5; or
(ii) under regulations made for the purposes of section 6.
(1) ASIC is, by force of this section, entitled to the custody of records
that:
(a) are deemed, by subsection 22(2) of the Archives Act 1983, to be
Commonwealth records for the purposes of that Act; and
(b) are documents or things that were produced to the HIH Royal
Commission;
as if a direction to that effect were in force under subsection 22(3) of
the Archives Act 1983 at all times after the commencement of this
Act.
Note: This subsection applies to documents or things that
were actually produced to the HIH Royal Commission. For the obligation to
provide ASIC with electronic copies of such documents or things, see
section 5.
(2) The Commonwealth must ensure that the records to which
subsection (1) applies are provided or made available to ASIC as soon as
practicable after the commencement of this Act.
If:
(a) the Commonwealth has an electronic version of a document or thing that
was produced to the HIH Royal Commission (whether or not subsection 4(1) applies
to the document or thing itself); and
(b) the electronic version is deemed, by subsection 22(2) of the
Archives Act 1983, to be a Commonwealth record for the purposes of that
Act;
the Commonwealth must ensure that an electronic copy of that electronic
version, and of any associated objective coding data, is provided or made
available to ASIC as soon as practicable after the commencement of this
Act.
The regulations may provide for ASIC to have access to other records of,
or relating to, the HIH Royal Commission, including by:
(a) providing that ASIC is entitled to the custody of such records;
or
(b) requiring such records, or electronic copies of such records (with or
without objective coding data), to be provided or made available to
ASIC.
(1) The transferred records are taken:
(a) to have been disclosed or given to ASIC for the purposes of any of its
functions and powers; and
(b) to have the status of protected information for the
purposes of section 127 of the Australian Securities and Investments
Commission Act 2001.
(2) ASIC may retain possession of a record or thing of which it is
entitled to custody under subsection 4(1) for so long as ASIC considers it
desirable to do so for the purposes of any of its functions and powers, despite
any request from the owner of the document or thing for the return of the
document or thing.
Nothing in this Act affects the operation of section 6DD of the
Royal Commissions Act 1902 in relation to the transferred
records.
Note: Section 6DD limits the admissibility in
proceedings against a person of statements or disclosures made by the person to
a Royal Commission, or of the fact that the person produced a document or thing
to a Royal Commission.
A transferred record, or material in or referred to in a transferred
record, does not cease to be the subject of legal professional privilege merely
because:
(a) ASIC is entitled to the custody of the record under subsection 4(1),
or under regulations made for the purposes of section 6; or
(b) the record, or an electronic copy of the record, is provided or made
available to ASIC under subsection 4(2) or section 5, or under regulations
made for the purposes of section 6.
The Governor-General may make regulations prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving
effect to this Act.