Document ID: chunk:federal_register_of_legislation:C2004C01296:clause:1_332
Version: federal_register_of_legislation:C2004C01296
Segment Type: clause
Provision Reference: sch 1 cl 332
Character Range: 51368–52732

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 accounting records for its membership subscriptions separately on a cash basis as provided in subsection 272(2) of the WR Act as in force immediately before commencement; or
 (b) after consultation with the organisation 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 organisation, the Registrar may make the further investigation.