What are the powers of ASIC in relation to applying their powers and to make exemptions? Which of the following is an appropriate answer?

Group of answer choices

While ASIC has the power to administer and apply the Corporations Act, it has no power to give exemptions from various sections of the Corporations Act or criminal or civil actions

ASIC has extensive powers to investigate and collect information on offences committed under the Corporations Act

The ASIC Act only gives the power to investigate offences under the Corporations Act, not to exempt an offence or to commence proceedings

No authority can exempt or excuse a company or individual of a criminal offence