Document ID: chunk:federal_register_of_legislation:C2009A00114:clause:2_4
Version: federal_register_of_legislation:C2009A00114
Segment Type: clause
Provision Reference: sch 2 cl 4
Character Range: 14592–15825

4  Special rule relating to the provision of tax agent services by certain entities
(1) If:
 (a) immediately before commencement, an entity was providing a service that is a tax agent service (other than a BAS service within the meaning of the new law) but was not required to be registered as a tax agent under the old law; and
 (b) during the 3 month period beginning immediately after commencement, the entity notifies the Board that the entity satisfies paragraph (a);
the entity is taken to be a registered tax agent within the meaning of the new law for the 2 year period beginning immediately after commencement.
Note 1: A registered tax agent within the meaning of the new law is registered under section 20‑25 of the new law.
Note 2: Paragraph (b)—for the form of the notification, see item 25 of this Schedule.
(2) To avoid doubt, if an entity is taken to be a registered tax agent under subitem (1), the Board may, in accordance with the new law, do either or both of the following:
 (a) impose conditions to which the entity's registration is subject;
 (b) require the entity to maintain professional indemnity insurance;
as if the entity had applied for registration and the Board had decided to grant the application.