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Companies and Securities Advisory Committee
Section 1: Overview, Appropriations and Budget Measures Summary
The Companies and Securities Advisory Committee (CASAC) was established in September 1989. Its role, as set out in Section 148 of the Australian Securities and Investments Commission Act 1989 (the ASIC Act), is to advise the Minister on any matters concerning the Corporations Law or improving the efficiency of financial markets. The Committee does not have any statutory role to advise on those insurance or trade practices consumer protection matters that were added to the jurisdiction of ASIC in 1998. ASIC has established a non-statutory Consumer Advisory Panel to advise it on issues affecting consumers.
The Legal Committee was established in September 1991 to provide expert legal analysis, assessment and advice to the Advisory Committee.
The members of the Advisory Committee and Legal Committee are appointed in their personal capacities by the Treasurer.
The total appropriations for the CASAC in the 2000-01 Budget are $0.9 million (see Table 1.1 on the following page).
Companies and Securities Advisory Committee - Appropriations 2000-01
Table 1.1: Appropriations ($'000)
(a) Revenue from Other Sources includes other revenue from government (for example, resources free of charge) and revenue from services other than government (for example, sales of goods and services).
Administered Capital and Agency Capital (Equity Injections and Loans)
CASAC does not have an appropriation for an equity injection or loan or an appropriation for administered capital in 2000-01.