Home | Search | Site Map | Help

Australian Securities and Investments Commission

Section 1: Overview, appropriations and budget measures summary

Overview

The Australian Securities and Investments Commission (ASIC) is an independent government body that enforces and administers the Corporations Law and consumer protection law for investments, life and general insurance, superannuation and banking (except lending) throughout Australia. The Commission is established under the Australian Securities and Investments Commission Act 1989.

ASIC has the function of monitoring and promoting market integrity and consumer protection in relation to:

• the Australian financial system;
• the provision of financial services; and
• the payments system.

Appropriations

The total appropriation for ASIC in the 2001-02 Budget is $159.2 million. Included in this figure is an administered special appropriation amount of $18.0 million to cover payments related to banking unclaimed monies under the Banking Act 1959. Table 1.1 on the following page provides this detail.

Part C: Agency Budget Statements - ASIC

Australian Securities and Investments Commission - appropriations 2001-02

Table 1.1: Appropriations and other revenue

(1) C1, E1 and I1 refer to information provided in Table 2.1. K1 refers to information provided in Table 3.1. K2 refers to information provided in Table 3.6.

(2) Under the appropriation structure, Bill No. 2 includes Specific Purpose Payments (SPP's), New Agency Outcomes (NAO's), administered capital and agency capital via agency injections and loans.

(3) Refer to Table 3.1 for application of agency revenue.

(4) Revenue from other sources includes other revenue from government (for example, resources free of charge) and revenue from other sources (for example, sales of goods and services by agencies). Non-appropriated agency and administered revenues are detailed in Appendix 1.

* Percentage figures indicate the percentage contribution of revenue from government (agency appropriations) to the total price of outputs, by outcome.

Budget Measures - Australian Securities and Investments Commission summary

Table 1.2: Summary of measures in the 2001-02 Budget

Part C: Agency Budget Statements - ASIC

Administered capital and agency equity injections and loans

ASIC does not have an appropriation for an equity injection or loan or an appropriation for administered capital in 2001-02.