Section 1: Agency overview
The Corporations and Markets Advisory Committee (CAMAC) was established in September 1989. Its role, as set out in section 148 of the Australian Securities and Investments Commission Act 2001 (the ASIC Act), is to advise the Minister on any matters concerning the Corporations Act or improving the efficiency of financial markets. CAMAC may undertake reviews on its own initiative, as well as at the request of the Minister.
The Legal Committee was established in September 1991 to provide expert legal analysis, assessment and advice to the Advisory Committee.
The Treasurer appoints the members of the Advisory Committee and Legal Committee in their personal capacities.
Table 1.1: Agency outcomes and output groups