Document ID: chunk:federal_register_of_legislation:F2024C00896:reg:25n
Version: federal_register_of_legislation:F2024C00896
Segment Type: reg
Provision Reference: reg 25N
Character Range: 56103–57858

25N  Sufficient number individuals for partnerships and companies
 (1) This section applies if:
 (a) a partnership or company applies under section 20‑20 of the Act for registration (including renewal of registration) as a registered tax agent or BAS agent; and
 (b) in connection with that application, the partnership or company gives the Board details of an individual (a sufficient number individual for the partnership or company) that is a registered tax agent or BAS agent, for the purposes of satisfying the requirement in paragraph 20‑5(2)(c) or (3)(d) of the Act (whichever applies); and
 (c) the Board, under section 20‑25 of the Act, grants the application and determines a period (the registration period) for which the partnership or company is to be registered.
 (2) If an individual is a sufficient number individual for the partnership or company, then:
 (a) the name and registration number of the individual must be entered on the register in respect of the partnership or company; and
 (b) the name and registration number of the partnership or company must be entered on the register in respect of the individual;
for the period that:
 (c) starts at the beginning of the registration period; and
 (d) ends at earliest of the following:
 (i) the end of the registration period;
 (ii) the end of the day when the individual, or the partnership or company, ceases to be a registered tax agent or BAS agent;
 (iii) if the partnership or company gives the Board written notice that the individual is, from a specified day, no longer to be counted for the purposes of determining whether the partnership or company satisfies the requirement in paragraph 20‑5(2)(c) or (3)(d) of the Act (whichever applies)—the start of that specified day.