Penny Wong (SA, Australian Labor Party, Shadow Minister for Corporate Governance and Responsibility) Share this | Hansard source

My question is to Senator Minchin, the Minister for Finance and Administration. Does the minister agree with Senator Coonan’s statement in question time on Monday about the T3 prospectus, when she said:

ASIC has signed off on the prospectus. Clearly, the prospectus complies with ASIC’s view as to what are appropriate regulatory conclusions.

Is the minister aware that the Corporations Act expressly states that ASIC takes no responsibility for the content of a prospectus? Can the minister clarify whether Senator Coonan is simply ignorant of the law as to ASIC’s role, or can he confirm whether he or any other minister asked ASIC to specifically approve the T3 prospectus? What was the nature of the approval that was sought and, according to Senator Coonan, granted by ASIC for the contents of the T3 prospectus?