Document ID: chunk:federal_register_of_legislation:C2025C00185:section:12:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 12 (pt 2/2)
Character Range: 1260637–1261412

revenues, profits or earnings of the audit company; and
 (e) without limiting paragraph (d), has no financial arrangement with the audit company to receive a commission or similar payment in relation to business generated by the person for the accounting and audit practice conducted by the audit company.
In a prosecution for an offence based on subsection (1), (2), (5) or (6), the prosecution must prove that the person did not satisfy the independence test in this subsection in relation to the audit company.
 (12) In applying subsection (11), disregard any rights that the person has against the audit company by way of an indemnity for, or contribution in relation to, liabilities incurred by the person when the person was an officer or employee of the audit company.