Issue Date:  -  Wednesday, 15 September 2004

Information to be shared between state and commonwealth

The way has been cleared for better sharing of information between State and Commonwealth Government agencies.

A new Memorandum of Understanding (MOU) has been signed between the Department of Consumer and Employment Protection (DOCEP) and the Australian Securities and Investments Commission (ASIC) that will formalise the exchange of information between the two agencies.

DOCEP Director General Brian Bradley said today that the new MOU would mean that matters could be referred between the two agencies, allowing for action to be taken on wrongdoings at both State and Commonwealth levels.

“An MOU did previously exist between ASIC and the Consumer Protection Division of DOCEP, but this will now apply to all the Divisions of DOCEP – Consumer Protection, WorkSafe, Labour Relations and Energy Safety,” Mr Bradley said.

“What it effectively means is that, if a company is suspected of breaching legislation covered by DOCEP, further information can be obtained from ASIC and vice versa.

“Similarly, it may mean that investigations may be moved between State to Commonwealth jurisdictions if it is more appropriate.

“The MOU will allow matters to be referred between the agencies so both agencies can discharge their functions and responsibilities more efficiently and effectively.”

The Memorandum of Understanding comes into effect on 16 September 2004.