ASIC Act definition
Examples of ASIC Act in a sentence
Subject to clause 15, where the Issuer reasonably determines that any of the provisions of this clause 6 are not appropriate in any particular circumstances, or that any event which is not dealt with in clause 6 should have been dealt with, it may make any alterations to the effect of this provision or any other Term that it considers to be reasonably appropriate provided that the alteration is not unfair (as defined in section 12BG of the ASIC Act).
The Issuer may transfer its rights and obligations, under these Terms at any time by giving notice to the holder of the Units, provided that the transfer is not to the detriment of the Investor, and is not otherwise unfair (as defined in Section 12BG of the ASIC Act).
The Applicant also relies on section 769C of the Corporations Act, section 12BB of the ASIC Act and section 4 of the ACL.
Consequently, the Insurance Council submits that it is unnecessary to tailor the definition of unfairness in relation to insurance contracts and the generic approach taken in the ASIC Act and Australian Consumer Law should apply.
ASIC Act means the Australian Securities and Investments Commission Act 2001.