Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1291
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1291
Character Range: 5422418–5423014

1291  Immediate suspension or cancellation
  ASIC may cancel or suspend a person's registration as an auditor if:
 (a) the person is liable to pay levy imposed by the ASIC Supervisory Cost Recovery Levy Act 2017; and
 (b) the following have not been paid in full at least 12 months after the due date for payment:
 (i) an amount of levy (if any) payable in respect of the person;
 (ii) an amount of late payment penalty payable (if any) in relation to the levy;
 (iii) an amount of shortfall penalty payable (if any) in relation to the levy.
Note: See section 1298 for the effect of suspension.