Document ID: chunk:federal_register_of_legislation:C2016A00079:clause:2_255b
Version: federal_register_of_legislation:C2016A00079
Segment Type: clause
Provision Reference: sch 2 cl 255B
Character Range: 45365–46544

255B  Registration by Commissioner
 (1) This section applies if a person has made an application under subsection 255A(1) for registration as an auditor.
 (2) If the person is a registered company auditor, the Commissioner must, subject to section 255E, grant the application and register the person as an auditor.
 (3) If the person is not a registered company auditor, the Commissioner must, subject to section 255E, grant the application and register the person as an auditor if the Commissioner is satisfied that:
 (a) the person meets the requirements of subsection 255C(1) or (2) (educational qualifications, or equivalent qualifications and experience); and
 (b) the person has either:
 (i) satisfied all the components of an auditing competency standard approved by the Australian Securities and Investments Commission under section 1280A of the Corporations Act 2001; or
 (ii) had such practical experience in auditing as is prescribed by the regulations for the purposes of this paragraph; and
 (c) the Commissioner is satisfied that the person is capable of performing the duties of an auditor and is otherwise a fit and proper person to be registered as an auditor.