ASIC was investigating the affairs of Pinesett Ltd.In particular, it wished to ascertain whether Pinesett owned an undisclosed substantial interest in another company, ABC Limited.To this end, ASIC commenced an investigation in relation to the affairs of Pinesett.As part of this investigation, ASIC required the Managing Director, Cloe, to appear before a member of ASIC for an examination to answer questions under oath.

Cloe is concerned about her appearance at the examination.She is particularly concerned because, sometime after her appearance, one of her colleagues gave evidence in other related proceedings which established that Cloe's evidence was false.Also, under a notice issued pursuant to s.30 ASIC Act, ASIC is seeking disclosure of various documents, including letters written by Cloe to her overseas lawyers in relation to the matter which is the subject of the ASIC investigation.

(a)What powers does ASIC have to hold an investigation in relation to Pinesett and an examination of Cloe?

(b)What action may ASIC take against Cloe or Pinesett?

(c)What action may Cloe take (or what action could Sarah have taken) to protect her interests?