Coronavirus (COVID-19) updates from the Australian Government

ASIC-ATO information sharing

This consultation process has now been completed.
Date
-
Consultation Type
Exposure Draft

Key Documents

The Government is proposing to amend subsection 127(2A) of the Australian Securities and Investments Commission Act 2001 to enable the Australian Securities and Investments Commission (ASIC) to share information with the Australian Taxation Office (ATO) without involving the ASIC Chairperson or their delegate. This mirrors the existing arrangements for sharing information between ASIC and the Reserve Bank of Australia and the Australian Prudential Regulatory Authority.

Both ASIC and the ATO’s obligations under the Privacy Act 1988 would remain unchanged as a result of this amendment.

The community’s views are sought on the text of the amendments.

Submissions

No submissions are currently available.