Having regard to a number of high-profile situations where improper practices resulted in share market volatility,losses to individual shareholders,and possible breaches of existing legislation,the Commonwealth government transferred responsibility in 1991 for the administration of Corporations Law to:

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The transfer of responsibility for the administration of Corporations Law to the Australian Securities and Investments Commission (ASIC) was in response to high-profile situations where improper practices resulted in share market volatility, losses to individual shareholders, and possible breaches of existing legislation. ASIC is tasked with enforcing and regulating company and financial services laws to protect consumers, investors and creditors.

Having Regard to a Number of High-Profile Situations Where Improper