Document ID: chunk:federal_register_of_legislation:C2008A00090:clause:1_72
Version: federal_register_of_legislation:C2008A00090
Segment Type: clause
Provision Reference: sch 1 cl 72
Character Range: 17432–18069

72  Transitional—audit committees

(1) This item applies to an audit committee established in accordance with section 46 of the Financial Management and Accountability Act 1997 before the commencement of this item and in existence immediately before that commencement.

(2) The audit committee continues in existence on and after that commencement for the purposes of section 46 of that Act, as amended by this Act.

(3) However, if the audit committee does not comply with section 46 of that Act, as amended by this Act, the Chief Executive concerned must take whatever steps are necessary to ensure that the committee does so comply.