PBS: ASIC - Section 1: Overview, Appropriations and Budget Measures Summary

	Document Index Portfolio Budget Statements Australian Securities and Investments Commission

Section 1: Overview, Appropriations and Budget Measures Summary

Overview
Appropriations
Budget Measures -- Australian Securities and Investments Commission Summary
Administered Captial and Equity Injections and Loans

OVERVIEW

The Australian Securities and Investments Commission (ASIC) is an independent government body that enforces and administers the Corporations Law and consumer protection law for investments, life and general insurance, superannuation and banking (except lending) throughout Australia. The Commission is established under the Australian Securities and Investments Commission Act 1989.

ASIC has the function of monitoring and promoting market integrity and consumer protection in relation to:

the Australian financial system;
the provision of financial services; and
the payments system.

APPROPRIATIONS

Total appropriations for ASIC in the 1999-2000 Budget are $132.1 million (see Table 1.1).

Australian Securities and Investments Commission -- Appropriations 1999-2000

Table 1.1: Appropriations ($'000)

Outcomes	Administered Expenses				Price of Outputs					Total Appropriations^(e)	Total Estimated Expenses
	Special Appropriations ^(a)	Annual Appropriations		Total Administered Appropriations	Total Price of Outputs^(c)	Revenue from Other Sources^(d)	Revenue from Government (Appropriations)
		Bill 1	Bill 2 (SPPs & NAOs)^(b)				Special	Annual Bill 1	Total
	(A)	(B)	(C)	(D=A+B+C)	(E)	(F)	(G)	(H=E-F-G)	(I=G+H)	(J=D+I)	(K=J+F)
Outcome 1 -- A fair and efficient market characterised by integrity and transparency and supporting confident and informed participation of investors and consumers	-				137,163	5,085	-	132,078	132,078	132,078	137,163
Total	-	-	-	-	137,163	5,058	-	132,078	132,078	132,078	137,163
Bill 2 Administered Capital^(b)										-
Bill 2 Agency Equity Injections and Loans^(b)										-
Total Appropriations										-132,078

Estimated expenses from individual Special Appropriations are shown in Appendix 2.
Under the proposed Appropriation Structure, Bill 2 includes Specific Purpose Payments (SPPs), New Agency Outcomes (NAOs), Administered Capital and Agency Capital via Agency Injections and Loans.
Refer to Budget Statement of Revenue and Expenses for Application of Agency Revenue (see Table 3.1).
Other Revenue includes other revenue from Government (eg resources free of charge) and revenue from other sources (eg sales of goods and services).
Links from Appropriations to Budget Financial Statements include Budget Statement of Revenue and Expenses (see Table 3.1) and Capital Budget (see Tables 3.4 and 3.5).

BUDGET MEASURES -- AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION SUMMARY

Table 1.2: Summary of Budget Measures in the 1999-2000 Budget

Measure	Outcome	Output Groups Affected	Appropriations ($'000) 1999-00			Appropriations ($'000) 2000-01			Appropriations ($'000) 2001-02			Appropriations ($'000) 2002-03
			Admin Expenses	Agency Outputs	Total	Admin Expenses	Agency Outputs	Total	Admin Expenses	Agency Outputs	Total	Admin Expenses	Agency Outputs	Total
Corporate Law Economic Reform Program -- Expense	1	1.1	-	2,750	2,750	-	1,978	1,978	-	3,480	3,480	-	936	936

Note: Administered revenue measures are not attributed to agencies and are reported in Budget Paper No. 2.

ADMINISTERED CAPITAL AND EQUITY INJECTIONS AND LOANS

ASIC does not have an appropriation for an equity injection or loan or an appropriation for administered capital in 1999-2000.