Document ID: chunk:federal_register_of_legislation:C2004A01041:clause:1b_332
Version: federal_register_of_legislation:C2004A01041
Segment Type: clause
Provision Reference: sch 1B cl 332
Character Range: 410287–411595

332  Investigations arising from auditor's report

 (1) Subject to subsection (2), a Registrar must:
 (a) where the documents lodged in the Industrial Registry under section 268 include a report of an auditor setting out any:
 (i) defect or irregularity; or
 (ii) deficiency, failure or shortcoming; and
 (b) where for any other reason the Registrar considers that a matter revealed in the documents should be investigated—investigate the matter.

 (2) The Registrar is not required to investigate the matters raised in the report of the auditor if:
 (a) the defect, irregularity, deficiency, failure or shortcoming consists solely of the fact that the organisation concerned has kept financial records for its membership subscriptions separately on a cash basis as provided in subsection 252(4); or
 (b) after consultation with the reporting unit and the auditor, the Registrar is satisfied that the matters are trivial or will be remedied in the following financial year.

 (3) Where, having regard to matters that have been brought to notice in the course of, or because of, an investigation under subsection (1), a Registrar forms the opinion that there are grounds for investigating the finances or the financial administration of the reporting unit, the Registrar may make the further investigation.