Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_48
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 48
Character Range: 58322–59373

48  Referring matters to the professional associations for approved auditors and actuaries

 (1) This section applies if APRA:
 (a) revokes under section 42 its approval of a person's appointment as an auditor or actuary of a general insurer; or
 (b) makes a determination under section 44 disqualifying a person from holding an appointment as an auditor or actuary of a general insurer.

 (2) APRA may refer details of the matter to the following:
 (a) the Companies Auditors and Liquidators Disciplinary Board established by Division 1 of Part 11 of the Australian Securities and Investments Commission Act 2001;
 (b) those members of the professional association of the auditor or actuary whom APRA believes will be involved in considering or taking any disciplinary or other action concerning the matter against the auditor or actuary.

 (3) When APRA refers the details of a matter, APRA must also give written notice of the referral, including the nature of the matter, to the auditor or actuary.

Division 2—Provision of information to APRA